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05/08/00 MON 14:55 FAX 16123402644 DORSEY WHITNEY 20 'Agreement, so it will not be necessary to obtain the consent of the Ramsey County Board and the St. Anthony School Board to terminate the assessment agreement. 3. Process for Establishing New TIF District. A number of steps must be followed to establish a new TEF district and eliminate parcels for the existing TIF district. The City Council must hold a public hearing on the new TIF plan and elimination of the parcels from the existing TIF district. Notice of hearing is required to be published once not less than 10 nor more than 30 days prior to the date of the hearing and not less than 30 days prior to the date of publication of the notice the HRA must deliver written notice of proposed district to the Ramsey County Commissioner who represents the area to be included in the district. At least 30 days prior to the hearing an estimate of the fiscal and economic implications of the tax increment financing plan must be provided to the County and School District. The HRA also needs to obtain the written opinion of the Planning Commission as to the proposed redevelopment. 4. Use of TIF for Public Space, Minnesota Statutes, Section 469.176,subdivision 4g, was amended in 1999 to provide that no revenue derived from tax increment from any district may be used fora facility used for social,recreational or conference purposes. Consequently,tax increment may not be used to acquire,construct or improve public space to be owned or leased by the City. If the City desires to have some public space in Apache Plaza the costs of such space will need to be paid from funds that are not derived from tax increment . JPG:cmn _3_ .. ... .. .. ..., n •.r.• • -r ► wr r r n