Agenda - Economic Development Authority - 10/09/2025

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6. Space necessary for and related to the activities listed in items (1) to (5); or 7. A workforce housing project that satisfies the requirements of M.S., Section 469.776, Subd. 4c(d). In meeting the statutory criteria the City relies on the following facts and findings: The facilities in the District meet the conditions of Purposes 1, 2, 3 and 6. Pursuant to M.S., Section 469.776, Subd. 7, the District does not contain any parcel or part of a parcel that qualified under the provisions of M.S., Sections 273.111, 273.112, or 273.114 or Chapter 473H for taxes payable in any of the five calendar years before the filing of the request for certification of the District. DURATION & FIRST YEAR OF DISTRICT'S TAX INCREMENT Pursuant to M.S., Section 469.775, Subd. 1, and M.S., Section 469.776, Subd. 1, the duration of the District must be indicated within the TIF Plan. Pursuant to M.S., Section 469.776, Subd. lb., the duration of the District will be 8 years after receipt of the first increment by the City. The date of receipt by the City of the first tax increment is expected to be 2028. Thus, it is estimated that the District, including any modifications of the TIF Plan for subsequent phases or other changes, would terminate after 2036, or when the TIF Plan is satisfied. If increment is received in 2027, the term of the District will be 2035. The City reserves the right to decertify the District prior to the legally required date. ORIGINAL TAX CAPACITY, TAX RATE & ESTIMATED CAPTURED NET TAX CAPACITY VALUE/INCREMENT & NOTIFICATION OF PRIOR PLANNED IMPROVEMENTS Pursuant to M.S., Section 469.774, Subd. 7 and M.S., Section 469.777, Subd. 1, the Original Net Tax Capacity (ONTC) as certified for the District will be based on the market values placed on the property by the assessor in 2025 for taxes payable 2026. City of Ramsey Tax Increment Financing District No. 19 (Zero Zone) 5