My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
CC PACKET 08282001
StAnthony
>
City Council
>
City Council Packets
>
2001
>
CC PACKET 08282001
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
12/30/2015 7:53:22 PM
Creation date
12/30/2015 7:53:08 PM
Metadata
Fields
SP Box #
29
SP Folder Name
CC PACKETS 2001-2004
SP Name
CC PACKET 08282001
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
97
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
The property which the HRA intends to acquire with tax increment revenue from <br /> the Chandler District is the Custom Liquidators property located at 2654 Kenzie Terrace in the <br /> City of St. Anthony (the "Custom Liquidators Property"). The Custom Liquidators Property is <br /> presently included in the area subject to the Redevelopment Plans pursuant to the Master <br /> Modification. <br /> II. STATEMENT OF NEED AND OBJECTIVES <br /> The acquisition of the Custom Liquidators Property will aid in the redevelopment <br /> of the Custom Liquidators Property in a manner beneficial to the residents of the City and <br /> consistent with the objectives of the HRA as stated in Redevelopment Plans and which will meet <br /> the needs specified in Redevelopment Plans. <br /> III. ADDITIONAL EXPENDITURE OF TAX INCREMENT <br /> Additional expenditures of tax increment authorized by this 2001 Amendment <br /> include costs associated with acquisition of the Custom Liquidators Property. At this time the <br /> HRA has identified the Property as property to be acquired by the HRA and amends the budget <br /> for-the Ctiaridler District to auihorize-the'expenditure of tax increment revenuefromAhe <br /> Chandler District in the amount of up to $800,000 to acquire and improve'the Custom - -, <br /> Liquidators Property. Such authorization represents a net increase of$600,000 in-authorized <br /> expenditures of tax increments from the Chandler District. <br /> ® The use of tax increment derived from the Chandler District to pay the costs of <br /> acquisition of the Custom Liquidators Property is hereby authorized. Such costs may be paid <br /> directly from tax increment derived from the Chandler District, or may be paid indirectly from <br /> tax increment derived from the Chandler District, by the payment of debt service on a loan or <br /> loans made by the City to the HRA or by the HRA to finance such cost. Any such loan made by <br /> the City or HRA will be repaid, with interest, from the tax increment derived from the Chandler <br /> District. Other than the loan or loans from the City or the HRA, it is not expected that any <br /> obligations will be issued by the City or HRA to finance such costs. <br /> IV. FISCAL AND ECONOMIC IMPLICATIONS OF ADDITIONAL <br /> EXPENDITURES <br /> It is estimated fiscal and economic implications of the additional expenditures of <br /> tax increment revenue derived from the Chandler District authorized by this 2001 Amendment <br /> will be as follows: <br /> The local governmental units other than the City which are authorized by law to <br /> levy ad valorem property taxes in the area where the Chandler District are located are <br /> Independent School District No. 282, Ramsey County, the HRA, and various metropolitan area <br /> authorities, including the Metropolitan Council, the Metropolitan Transit Commission, the <br /> • -2- . <br />
The URL can be used to link to this page
Your browser does not support the video tag.