Laserfiche WebLink
CC Regular Session <br />Meeting Date: <br />07/22/2025 <br />Primary Strategic Plan Initiative: Promote economic growth and development. <br />5. 8. <br />Title: <br />Adopt Resolution #25-162 Approving Minnesota Laws, 2025 1st Special Session Chapter 13, Article 5, Section 2 <br />Purpose/Background: <br />The purpose of this case is to consider City approval of Special legislation approving the ability to adopt <br />Interfund Loan Resolutions for expenses previously incurred in TIF District 14 (COR) as follows: <br />• Eligible expenditures within the district include but are not limited to (1) the city's share of the costs <br />necessary to provide for the construction of the Northstar Transit Station and related infrastructure, <br />including structured parking, a pedestrian overpass, and roadway improvements, (2) the cost of land <br />acquired by the city or the housing and redevelopment authority in and for the city of Ramsey within the <br />district prior to the establishment of the district, and (3) the cost of public improvements installed within the <br />tax increment financing district prior to the establishment of the district. <br />Approval of this Special legislation will keep the City in compliance for TIF eligible expenditures previously <br />incurred and allow the City to reimburse itself for those expenditures through TIF revenue generated from TIF <br />District 14 (COR) <br />Notification: <br />Not required <br />Time Frame/Observations/Alternatives: <br />The City is required by Minnesota Statutes, sections 645.02 and 645.021 to formally approve the Special <br />Legislation via resolution. <br />Alternatives: <br />1) Motion to adopt Resolution #25-162 Approving Minnesota Laws, 2025 1st Special Session Chapter <br />13, Article 5, Section 2 (as presented). <br />2) Motion to adopt Resolution #25-162 Approving Minnesota Laws, 2025 1st Special Session Chapter 13, <br />Article 5, Section 2 (with changes). <br />3) Something else. <br />Interfund Loan Resolutions will be presented to City Council for formal approval prior to December 31, <br />2025, as authorized by the approved Special Legislation. <br />Funding Source: <br />Costs associated with the filing of the attached Resolution #25-162 and subsequent IFL Resolutions can be funded <br />through TIF 14 (9214.6315). <br />Recommendation: <br />Staff recommends adoption of Resolution #25-162 Approving Minnesota Laws, 2025 1st Special Session <br />Chapter 13, Article 5, Section 2 (as presented). <br />Outcome/Action: <br />