Laserfiche WebLink
<br />f. ' <br /> <br />.,---) <br /> <br />~'-."".'~. <br />,.....~.'...~ <br /> <br />, ~) <br /> <br />.. <br /> <br />~ttcu:1\S -to f!J6t *2- <br /> <br />Councilmember Cox introduced the following resolution and moved <br />for its adoption: <br /> <br />R!SOLUTION #87-213 <br /> <br />RESOLUTION ADOPTING A STATEMENT OF POLICY REGARDING TAX INCREMENT <br />FINANCING <br /> <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: <br /> <br />Section 1. Purpose. In order to provide a framework in <br />which the City of Ramsey may review requests from developers for <br />tax increment financing (TIF) assistance, the City Council seeks <br />to adopt TIF guidelines. It i. the purpose of the guidelines to <br />state in gen~ral terms the policies of the City regarding T~F <br />assistance for private development, including the type of <br />development the City wishes to encourage, the location of such <br />development and the types of assistance which the City is <br />inclined to support. <br /> <br />Section 2. Criteria for Evaluation of Request for TIF <br />Assistance. The following criteria shall be utilized by the <br />City Council in evaluating requests for TIF assistance: <br /> <br />A. Location of Development. The City shall be classified <br />into the following six ~reas: <br /> <br /> Residential Commercial/Industrial <br />Rur al - without 0% 25% <br /> utilities <br />Urban - without 15% 40% <br /> utilities <br />Urban - with 45% 70% <br /> utilities <br /> <br />The above figures represent the percentage of the <br />increment produced by a property within the designated <br />area which may be made available for assistance to that <br />site. <br /> <br />It is the intent of the City that each parcel for which <br />TIF ~ssistance is requested "pay for itself" by <br />generating increment greater than the amount of <br />requested assistance. 'Increment generated in excess of <br />the above figures would be available for public improve- <br />ments of benefit to the TIF District or Development Dis- <br />trict as a whole. <br /> <br />B. Number of Jobs Created. In recognition of the goals of <br />the Municipal Development District Act and Tax Increment <br />Financing Act that jobs be created or preserved through <br />TIF, it is the policy of the City to favor labor- <br />intensive developments over those seeking a similar <br />Resolution #87-213 <br /> <br />Page 1 of 4 <br />