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L � <br /> G1 <br /> Board of <br /> 7arasey C0i9 Gommi:s'sxbners <br /> Presented By Commissioner Schaber Date September 13, 1982 ' No. 82-734 <br /> Attention: <br /> Budget & accounting; L. McKenna, Property Tax; <br /> All Municipality Clerks, Ramsey County; <br /> WHEREAS, Tax increment financing districts are being created in Ramsey <br /> County in increasing numbers and for significant amounts, and <br /> WHEREAS, The lack of availability of alternative financing methods <br /> suggests that reliance on tax increment financing will continue to increase in <br /> the future, and <br /> WHEREAS, Tax increment financing adversely affects the County's tax base <br /> and artificially increases the County's property tax mill rate, and <br /> WHEREAS, The County has no statutory authority to limit the use of tax <br /> increment financing, and <br /> WHEREAS, The County feels that it is necessary to express its concern <br /> to all municipalities in Ramsey County about the use of tax increment financing; <br /> Now, Therefore Be It <br /> RESOLVED, That the Board of Ramsey County Commissioners hereby adopts the <br /> following policy statement which shall be the official County comment for all tax <br /> increment projects proposed in Ramsey County: <br /> The rapid growth in the creation of tax increment financing <br /> districts is of increasing concern to Ramsey County. It should <br /> be noted that all increases in assessed valuation over the base year <br /> would be captured, whether or not they are generated by <br /> economic development activity carried on by the authority. <br /> The County's tax base is. affected adversely at a time when there <br /> is additional reliance on ad valorem property taxes because <br /> of the reduction in state and federal aids. <br /> Also, Ramsey County finds it objectionable, that under present <br /> statutes, provision is made for comment only, rather than <br /> statutory power for counties to limit or control the use of <br /> tax increment financing. <br /> Ramsey County recognizes that tax increment financing is one <br /> of the tools available to encourage development or redevelop- <br /> ment within a municipality. However, cautious and judicious <br /> use of the tax increment financing vehicle is necessary to <br /> insure that it is not abused. The County would like to see <br /> all municipalities who use tax increment financing develop a <br /> strategy which encourages development while protecting the <br /> municipality and its taxpayers from unnecessary expense by <br /> ROBERT J. Oi, Cheri unax By -continued- <br /> Rrr''r ,.f PPAi, — grinner <br /> E d 9Sc9E809cE OPI/81 :81 jS/W 8l bb ,90 g (fxi) Gb99—EGG-6I9 'Invd 'ZS NVOUOW 4 SDD iHS WOH <br />