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HRA PACKET 03232021
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HRA PACKET 03232021
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4/9/2021 9:26:43 AM
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<br />St. Anthony Housing & Redevelopment Authority <br />Lowry Grove 10 <br /> <br />The probable impact of the District on fire protection is not expected to be significant. <br />Typically, new buildings generate few calls, if any, and are of superior construction <br />and sprinklered. The City does not expect that the proposed development, in and of <br />itself, will necessitate new capital investment in vehicles or facilities. <br /> <br />The impact of the District on public infrastructure is expected to be minimal. The <br />Phase I developer is required to upgrade any utilities and address storm water ponding <br />and runoff for the area. Based on the development plans, there are no additional costs <br />associated with street maintenance, sweeping, plowing, lighting and sidewalks. <br /> <br />The probable impact of any District general obligation tax increment bonds on the <br />ability to issue debt for general fund purposes is expected to be minimal. It is not <br />anticipated that there will be any general obligation debt issued in relation to this <br />project, therefore there will be no impact on the City's ability to issue future debt or on <br />the City's debt limit. <br /> <br />(3) Estimated amount of tax increment attributable to school district levies. It is estimated <br />that the amount of tax increments over the life of the District that would be attributable <br />to school district levies, assuming the school district's share of the total local tax rate <br />for all taxing jurisdictions remained the same, is $11,254,842; <br /> <br />(4) Estimated amount of tax increment attributable to county levies. It is estimated that the <br />amount of tax increments over the life of the District that would be attributable to county <br />levies, assuming the county's share of the total local tax rate for all taxing jurisdictions <br />remained the same, is $13,575,161; <br /> <br />(5) Additional information requested by the county or school district. The City is not aware <br />of any standard questions in a county or school district written policy regarding tax <br />increment districts and impact on county or school district services. The county or school <br />district must request additional information pursuant to M.S. Section 469.175 Subd. 2(b) <br />within 15 days after receipt of the tax increment financing plan. <br /> <br />No requests for additional information from the county or school district regarding the <br />proposed development for the District have been received. <br />Supporting Documentation <br /> <br />Pursuant to M.S. Section 469.175, Subd. 1 (a), clause 7 the TIF Plan must contain identification <br />and description of studies and analyses used to make the determination set forth in M.S. Section <br />469.175, Subd. 3, clause (b)(2) and the findings are required in the resolution approving the <br />District. <br /> <br />(i) In making said determination, reliance has been placed upon (1) written representation <br />made by the developer to such effects, (2) review of the developer’s proforma; and (3) <br />City staff awareness of the feasibility of developing the project site within the District, <br />which is further outlined in the City Council resolution approving the establishment of <br />the TIF District and Appendix C. <br /> <br /> <br />14
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