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Motion by Councilmember Olson, seconded by Councilmember Strommen, to approve the <br />preliminary plat and preliminary site plan of Ramsey Town Center 6 th Addition subject to <br />compliance with the City Staff Review Letter dated July 3, 2007, revised July 19, 2007, with the <br />elevation changes recommended by staff. <br />Motion carried. Voting Yes: Mayor Gamec, Councilmembers Olson, Strommen, Dehen, <br />Jeffrey, and Look. Voting No: None. Absent: Councilmember Elvig. <br />Case #4: Adopt Resolution Decertifying Tax Increment Financing District No. 6 <br />Community Development Director Trudgeon indicated Tax Increment Financing District No. 6 <br />was created on August 8, 1995. This district was created to facilitate and assist the <br />redevelopment of the former Gateway Airport site plan into AEC Energy Park. The funds from <br />this district were used to pay for infrastructure costs and land cost write -downs for development <br />of this industrial park. All of the financial obligations from this district are satisfied and the <br />statutory duration of this district has been reached. This industrial park includes the following <br />businesses: Connexus Energy, In'tech, Sharp and Associates, Vision -Ease Lens, Building <br />Fasteners, Anderson - Dahlen, and Class C Components. This park contains approximately <br />639,000 square feet of commercial /industrial space. When this TIF District was created the <br />market value of the land was approximately $600,000. Today the land holds a taxable value of <br />$27,456,900. A resolution has been drafted to officially decertify this district as required by the <br />Minnesota State Auditor. <br />Councilmember Look asked how the $27 million taxable value is distributed. <br />Community Development Director Trudgeon replied that is the taxable value, not the taxes paid. <br />The point is that the taxes are now paid to the School District and County as part of the general <br />levy, whereas before it was segregated out and none of those entities saw those taxes that helped <br />the TIF project. The general taxpayers will now receive that additional tax base. <br />Councilmember Look asked if the additional tax base will be included in the budget proposal. <br />Community Development Director Trudgeon replied it has been included for the 2007 budget; <br />this resolution is a formality. <br />Motion by Councilmember Strommen, seconded by Councilmember Jeffrey, to adopt Resolution <br />No. 07 -07 -175 decertifying Tax Increment Financing District No. 6. <br />Motion carried. Voting Yes: Mayor Gamec, Councilmembers Strommen, Jeffrey, Dehen, Look, <br />and Olson. Voting No: None. Absent: Councilmember Elvig. <br />City Council / July 24, 2007 <br />Page 15 of 19 <br />