Agenda - Economic Development Authority - 10/09/2025

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Appendix D: Findings Including But/For Qualifications The reasons and facts supporting the findings for the adoption of the Tax Increment Financing Plan for Tax Increment Financing District No. 19 (Zero Zone) as required pursuant to Minnesota Statutes (M.S.), Section 469.775, Subd. 3 are as follows: 1. Finding that Tax Increment Financing District No. 19 (Zero Zone) is an economic development district as defined in M.S., Section 469.774, Subd. 12. Tax Increment Financing District No. 19 (Zero Zone) is a contiguous geographic area within the City's Development District No. 1, delineated in the TIF Plan, for the purpose of financing economic development in the City through the use of tax increment. The District is in the public interest because it will facilitate the expansion of Zero Zone's manufacturing facility in the City which will increase employment in the State and preserve and enhance the tax base of the State. 2. Finding that the proposed development, in the opinion of the City Council, would not reasonably be expected to occur solely through private investment within the reasonably foreseeable future and that the increased market value of the site that could reasonably be expected to occur without the use of tax increment financing would be less than the increase in the market value estimated to result from the proposed development after subtracting the present value of the projected tax increments for the maximum duration of Tax Increment Financing District No. 19 (Zero Zone) permitted by the TIF Plan. The proposed development, in the opinion of the City, would not reasonably be expected to occur solely through private investment within the reasonably foreseeable future: This finding is supported by the fact that the development proposed in this plan is an expansion of a manufacturing facility that meets the City's objectives for economic development. The cost of land acquisition, and related site improvements necessary to maximize development potential, makes development of the facility infeasible without City assistance. The business was asked for and provided project cost detail and out of state alternative investment options as justification that the developer would not have gone forward without tax increment assistance. The increased market value of the site that could reasonably be expected to occur without the use of tax increment financing would be less than the increase in market value estimated to result from the proposed City of Ramsey Tax Increment Financing District No. 19 (Zero Zone)