HomeMy WebLinkAbout12-133 Modify TIF Plan for District No 1-1
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 12 - 133
RESOLUTION APPROVING MODIFICATION OF
THE TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING
(REDEVELOPMENT) DISTRICT NO. 1 - 1
MOTION BY: SECOND BY:
Hedberg Erickson
WHEREAS,
The City of Prior Lake, Minnesota ( the "City") originally established Tax Increment
Financing (Redevelopment) District No. 1 - 1 (the “TIF District”) and approved the Tax
Increment Financing Plan (the “TIF Plan”) therefor under pursuant to Minnesota
Statutes, Sections 469.124 through 469.134 and Minnesota Statutes, Sections
469.174 through 469.1799, both inclusive, as amended (the “Act”) on March 1,
1985; and
WHEREAS,
The City adopted modifications to the TIF District on January 12, 1987 (Resolution
No. 87 - 03) and on July 15, 2002 (Resolution No. 02 - 116) ; and
WHEREAS ,
The City wishes to further modify the TIF Plan to correct inconsistencies with the
provisions of the Act and to amend the TIF Plan to provide for land acquisition and
disposition activities ; and
WHEREAS,
The City Council has investigated the facts and has caused to be prepared a
modification to the adopted TIF District and TIF Plan therein ; and
WHEREAS,
The City has performed all actions required by law to be performed prior to the
modification of the TIF Plan, including, bu t not limited to, notification of Scott County
and Independent School District No. 719 having taxing jurisdiction over the property
included in the TIF District and the holding of a public hearing upon published and
mailed notice as required by law .
NOW T HEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE, MINNESOTA
as
follows:
1. The recitals set forth above are incorporated herein.
2. T he modifications of the TIF District and TIF Plan as described in Attachment 1 of this resolution
are hereby ratified and affirmed .
3. Two more parcel identification numbers sh all be added to the Figure 3 - 1 of the modified plan,
including PID 250010310 and PID 250010320.
The City Finance Director is authorized and directed to transmit a certified copy of this resolution
4.
tog ether with the modified TIF Plan to the Office of the State Auditor, the Minnesota Department of
Revenue and Scott County .
TH
PASSED AND ADOPTED THIS 27 DAY OF AUGUST, 2012.
YES N O
Myser X Myser
Erickson X Erickson
Hedberg X Hedberg
Keeney Keeney X
Soukup X Soukup
Frank Boyles, City Manager
Phone 952.447. 9800 / Fax 952.44 7 . 4245 / www.cityofpriorlake.com
Attachment 1
Modification
Tax Increment Financing District No. 1 - 1 within Development District No. 1
And to
T ax Increment Financing Plan For Tax Increment Financing (Redevelopment) District No. 1 - 1