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<br />
<br />Finance
<br />
<br />City of Ramsey
<br />
<br />Annual Disclosure of Tax Increment Districts for the Year
<br />
<br />Ended December 31, 2005
<br />The city of Ramsey is required to publish the status of its Tax Increment Financing Districts. For additional infor-
<br />mation regarding each district, please contact Sean Sullivan, Economic Development Coordinator, at 763-433-9829.
<br />
<br />TIF District TIF TIF TIF TIF TIF TIF TIF TIF
<br />Name: District 1 District 2 District 4 District 6 District 7 District 8 District 9 District 10
<br /> Rivers Gateway Front Energy B&B, AMCOR ACCAP Sunfish
<br /> Bend Street Park LLC Lake
<br />Current Net Tax 843,852 1,661,515 296,675 535,166 51,944 239,246 3 1 ,043 89,126
<br />Capacity
<br />Original Net Tax 19,615 176,660 39,951 19,844 10,122 17,804 1,772 4,320
<br />Capacity
<br />Captured Net 824,237 1,484,855 256,724 515,322 41,822 221,442 29,271 84,806
<br />Tax Capacity
<br />Principal and In- 556,076 471,456 0 374,632 23,000 287,883 70,000 0
<br />terest Payments
<br />due during cur-
<br />rent year
<br />Tax Increment 822,589 1,478,773 218,056 265,359 34,225 205,450 28,582 123,749
<br />Received
<br />Tax Increment 1,731,053 1,839,068 1,746,108 462,898 23,493 303,670 70,503 93,585
<br />Expended
<br />Month and Year July 1986 July 1988 July 1989 July 1997 July 2002 July 2003 July 2004 July 2004
<br />of First Tax In-
<br />crement Receipt
<br />Date of Re- 12/31/2011 12/31/2012 12/31/2013 09/02/2006 12/31/2015 12/31/2028 12/31/2029 12/31/2011
<br />quired Decertifi-
<br />cation
<br />Increased Prop- 12,798 181 ,219 26,380 37,729 0 33,732 0 0
<br />erty Tax Im-
<br />posed on Other
<br />Properties as a
<br />Result of Fiscal
<br />Disparities Con-
<br />tribution *
<br />
<br />* The fiscal disparity property tax law provides that the growth in commercial-industrial property tax values is
<br />shared throughout the area. In a tax increment financing district, this value can either result in a tax increase for other
<br />properties in the municipality or result in a decrease in tax increment financing district revenue depending on how the tax
<br />increment district is established.
<br />Tax Increment Financing Districts #1, #2, #4, #6 and #8, located in the city of Ramsey do not share their growth
<br />in commercial-industrial property tax values. This results in an increase in property taxes for other properties located
<br />in the city of Ramsey. For taxes payable in 2006, this increase on other properties amounted to $291,858 ($12,798,
<br />$181,219, $26,380, $37,729 and $33,732) respectively, for Tax Increment Financing Districts #1, #2, #4, #6 and #8.
<br />Additional information regarding each district may be obtained from: City of Ramsey, 7550 Sunwood
<br />Drive NW, Ramsey, MN 55303, Attn: Sean Sullivan, 763-427-433-9829.
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<br />www.ci.ramsey.mn.us
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