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DI AUE FOR COUNCIL ACTION DATE: • 4 Basied, on the timie limitations of' the enactiment of r increment district n 1982, I was necessary to have these improvements completed by October of 1986 or plotentilally lose the incrementsi these properties would develop ovier the 25 year, span of the district. it is principally for this reason that the projects were sichediuled, for immediate The city in the last month heel been notified by Ramsey County that with the redistricting of our tax increment area,, these affected parcels now fall into District No. 4. Ais such, they have a, new four -year time span for improvements to be dome .1 It is y t eref ore q possible for the city to defer the improvements to a later date This would have a dual lenef t . The second benefit would be to delay the expenditures necessary and aid the city's tight cash flow in a tax increment area. These earmarked funds could to el+ t aside and safeguaroded, as, well as accrue interest necessary to offset the anticipated, inflation, It, therefore, would appear very desirable, to continue to move ahead on the right-of-way acquisition,, so thiei improvements could be done when needed but defer the actual construction until at least, 1987 and potentially as 9 r 9 , If' the council concurs, motion +rI rrIcompletion of plans later s sufficient, RIECOMMINDED CO,U'N'CIL Public ACTIONdi Motion instructing the defer Co III • - o of' plans for ProJects P-85-18, ST-85-"19, a d P-84-15i tio, a later date,,