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<br /> <br />, REQUEST FOR CITY COUNCIL ACTION <br /> <br />DATE: 10/13/03 <br />ITEM: <br /> <br />Department Approval: <br />CB\DW <br /> <br />Agenda Section <br />CONSENT <br />CONSIDERATION OF A RESOLUTION CALLING FOR A PUBLIC <br />HEARING ON THE MODIFICATION OF THE DEVELOPMENT <br />PROGRAM FOR DEVELOPMENT DISTRICT NO.1 AND THE <br />MODIFICATION OF THE TAX INCREMENT FINANCING PLAN FOR <br />TAX INCREMENT FINANCING DISTRICT NO. 12 (ARONA) <br /> <br />Manager Approval: <br /> <br />Description: <br /> <br />1.0 Summarv of Request: <br /> <br />1.1 As part ofthe process to modify the aronasite tax increment district (TIP District No. 12), <br />the City Council must hold a public hearing which will outline the modification to the TIP <br />District No 12 financing plan (Arona site) and Development Program for Development <br />District No 1 (entire city boundary). The attached resolution sets the date for the public <br />hearing for Monday, December 15,2003. <br /> <br />2.0 Summary of Process <br /> <br />2.1 Several steps are required to occur prior to the public hearing and subsequent approval of a <br />modification of both the Development Program for Development District No.1 and <br />Financing Plan for TIP District No. 12. The process requires notification to Ramsey County <br />and Mounds View School District No. 621 and the publication ofthe notice of public <br />hearing not less than 10 days nor more than 30 days prior to the public hearing. In addition, <br />staffis suggesting that the Council discuss the proposed modifications on November 17, <br />2003. (Attached Proposed Chronology). <br /> <br />3.0 SU22ested Council Action <br /> <br />3.1 Adopt resolution calling for a public hearing on the modification of the Development <br />Program for Development District No.1 and the modification of the Tax Increment <br />Financing plan for Tax Increment Financing District No. 12 to adequately direct revenues <br />generated from the Applewood Pointe Project to TIP eligible costs. <br /> <br />\\Victoria\CommDev\Economic Development\TIF District Plan\DIST #I2\IO_13_03 TIF district 12 public hearing notice.doc <br />\\Victoria\CommDev\Planning Files\3500-3549\3536_TIF Dist.12\IO_13_03 TIF district 12 public hearing notice.doc <br /> <br />ReA TIF District No. 12 Modification (101303) - Page 1 of 1 <br />