Laserfiche WebLink
2.2 The TIF financing plan provides- the statement of purpose for the district and use of funds, an <br />estimate of the costs to carry out the plan, and an estimate of the sources of funds coming <br />into the district. This is a requirement under MN Statutes, Section 469.1 75, For T District <br />No. 12 amendment the financing plan is being modified to clarify the available sources of <br />revenue based upon the development and project costs including the installation of <br />infrastructure and sidewalks inside, outside and adjacent to the district. Also, the <br />amendment clarifies the use of future increment for other ' eligible housing and <br />redevelopment activities within the City's Development District No. 1 (entire cite. A copy <br />of the proposed modifications with an estimated budget is attached. <br />2.3 The amendment must identify the City's increased bonding authority based upon the <br />development. It should be noted that Council did not and is not .directing the use of bonds <br />for any project based upon the Apple wood Pointe development within TIF District No. 12. <br />However, the amendment will provide the City with the ability to bond in the future if <br />needed for a TIF eligible housing or redevelopment project. The MN Statute 469,175 <br />requires that this increased bonding ability be recognized within the finance plan. <br />2.4 The amendment also requires notification to the County Commissioner, Mounds view <br />School District No. 621 and the entire Ramsey County Board which was provided in letters <br />dated October 22 and November 6, 2003 by Krass Monroe on the City's behalf. To date, no <br />comments have been received from the County or the Mounds view School District. In <br />addition, publication of the notice of public hearing was provided by November n� . <br />City of Roseville - TIF District 12 1 <br />s r � �• ��� - •S f re <br />2 r � P-'y., _. _ +,!".. ^.F F "��y_.•,..� r r•,r .r'"N �� <br />aaa: dsr. -� •'�•�v: a• parr.., w•.^r.K... ...c . r. r •iLn <br />..F fix. i•C•� c.... .. 9 •�... ..e <br />• :! "zi �; y- .,lr,.. ..a.--- --+�"Y",�,. .ter � <br />• � ,g��}TJ��r --.- v^�Y'� •y,-r •iti -.,,,i - - ......b... L• "'X'^a..�•,,..- <br />it .-- "'1 �3'.> - : a�,: .:..rr�r-a'r�i�'°nr0.- � "`"•'•'�: �.. .,...yL... '�....R •' r _... �.:. Y <br />• .. .n. n. P...�._.r�... r.... �. ��.," R„- .• - -"� "•�...'F' - __y.`•i -, »ter �� .... �. �GU..v.ry �.. �.•1 • -'-• -- c -: �� r�___ - _ <br />`r <br />-y.J ... ,.." _ _ ". }' ,... �..:�:.sarw�ur,. V _.... _. F r.....� r �p�..�.y.� �v .r, Y•r••.o <br />t7 -'a.'""'? r ETA• .,..... g.. .. r� �i�w - r,��.i - P^" <br />... K + <br />r"r. - +gas +T •� �.�� f�.� <br />C$'y'•wta. 'rr% -r ,r -1 ^va-� -w+ w.a�F..r.aw,+.r�..w.� <br />3.0 Suegnsted Courncrl Action <br />3.1 Open the public hearing and tale comment regarding the TIF District No, 12 financing plan <br />modifications and development program for Development District No. 1. <br />3.2 By resolution, adopt the modifications to the development program and the tax increment <br />financing plan for Development District No. 1 and Tax Increment Financing District No. 12. <br />Attachment: TIF District No. 12 Finance Plan, draft resolution <br />RCA TIF District No. 12 Modification ( 120803) - Page 2 of <br />