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• • Mr. David M. Childs June 2, 1982 Page 5 of the parcel(s) bounded by Kenzie Terrace to the North, Wilson Street to the East and Lowrey Avenue to the South. (4) Please describe how the Tax Increment District will be formed. (Who will do it and RPP. the Ongtq inniudod in vnur nnnnneol9 With the May, 1981 redevelopment plan already adopted and tax increment financing having been identified as Rn essential public financing mechanism, the creation of the tax increment financing district is the final element of the planning phase. According to state statute, the tax increment financing district must be located in a project or empowering area. The procedure for establishing the tax increment financing district is presented below. 1. Designation of the redevelopment empowering area and the tax increment finance district. 2. Upon determination of the feasibility of individual projects, preparation of the tax increment finance plan. 3. Review and approval of the plan by the HRA and city council and submission of plan to the County and School District for review and comment. 4. Adoption of the tax increment finance plan at a public hearing and authorization by the city council for the city staff and/or HRA to administer the implementation of projects in the revitalization area. As a result of Phase III, the City will have established a tax increment finance district and a finance plan in accordance with Minnesota sictrites, Sections 273.71-78. This tax increment finance district wiprovide an essential financing mechanism for redevelopment. Members of the firm will attend any meetings at the request of the City of St. Anthony for the purpose of presenting the contents of the plan and addressing concerns expressed by those present at the meetings or hearings. Mr. Hartman and Mr. Winter will be the primary contact person. The cost is included in the proposal. (5) Please describe how condemnation activities (if necessary) will be handled and how costs are addressed. - For properties authorized by the City for acquisition, appraisals and review appraisals would be obtained. Based on these appraisals, a proposed offering price would be recommended to the City. With approval of the offering price by the City, .an offer on the City's behalf would be made to the property owner in an attempt to get a negotiated purchase. If a negotiated • purchase is not. possible, after City approval, the property owner would be notified of the City's intention to proceed with condemnation.