HomeMy WebLinkAbout12-195 Decertify TIF 1-1
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 12 - 195
RESOLUTION APPROVING THE DECERTIFICATION OF TAX INCREMENT FINANCING DISTRICT
NO. 1 - 1 OF THE CITY OF PRIOR LAKE
MOTION BY: SECOND BY:
Hedberg Soukup
WHEREAS,
The City of Prior Lake, Minnesota (the "City") originally establis hed Tax Increment
Financing (Redevelopment) District No. 1 - 1 (the “TIF District”) and approved the Tax
Increment Financing Plan (the “TIF Plan”) pursuant to Minnesota Statutes, Sections
469.124 through 469.134 and Minnesota Statutes, Sections 469.174 throu gh
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) ; on July 15, 2002 (Resolution No. 02 - 116) ; and on August 27, 2012
(Resolution No. 12 - 133); and
WHEREAS ,
The City desires by this resolution to cause the decertification of t he TIF District at
the end of its term on December 31, 2012, after which all property taxes generated
by property within the TIF District will be distributed i n same manner as all other
property taxes .
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE, MINNESOTA
as
follows:
1. The recitals set forth above are incorporated herein.
2. The City Manager is authorized and directed to take such action as necessary to cause the Scott
County Auditor to decertify TIF District No. 1 - 1 on December 31, 2012 and to notify the Office of the
State Auditor .
TH
PASSED AND ADOPTED THIS 2 6 DAY OF NOVEMBER , 2012.
YES NO
Myser X Myser
Erickson X Erickson
Hedberg X Hedberg
Keeney X Keeney
Soukup X Soukup
________________________________
Frank Boyles, City Manager
Phone 95 2.447. 9800 / Fax 952.44 7 . 4245 / www.cityofpriorlake.com