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87 -03
RESOLUTION ON THE PROPOSAL TO MODIFY A TAX INCREMENT FINANCING DISTRICT
WITHIN DEVELOPMENT DISTRICT NO. 1 AND ADOPT TAX INCREMENT FINANCING PLAN'
MODIFICATIONS AND CALLING FOR CONSULTATION WITH OTHER AFFECTED
JURISDICTIONS AND PUBLIC HEARING
WHfERE4S, a proposal to modify Tax Increment Financing District No l -1
within Development District No. 1 under the provisions of Minnesota Statutes, Section 273.71
to 273.78 and Chapter 472A (collectively the "Act ") has been received by the City Council,
and
WHEREAS, the Act requires that prior to modification of a tax increment financing
plan the City Council shall provide a reasonable opportunity to members of the County
Board of Commissioners of� the County of Scott and the members of the School Board of
Independent School District No.. 719 to meet with the City Council and that the City -
Council shall fully inform the members of the County Board and School Board of the fiscal
and economic implications of the proposed tax increment financing plan modifications, and
WHEREAS, the Act further requires that prior to the modification of a tax
increment financing plan, a public hearing shall be held thereon:
NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Prior Lake
as follows:
1. The,, City Clerk is authorized and directed to make available to the County Board of
Commissioners of Scott County and of the Scht;)ol Board of Independent School District No.
719 a copy of this resolution, together with a copy of the proposed tax increment financing
plan, and to invite board members to meet with the City Council to discuss said proposal on
the 9th day of February, 1987 at 8 :00 p.m. at the City Hall.
2. A public hearing on said plan will be „held at the time and place set forth in the
Notice of Hearing hereto attached and incorporated herein by reference. The City Clerk i -
authorized and directed to cause said Notice of Hearing to be published in the official
new. spaper and, if the official newspaper does: not have general circulation, in a ° newspaper
of, general circulation in the City at least once not less than 10 days nor more than 30 days
prior to the date of hearing and to cause a copy of said notice to be mailed to Scott
County and the School Board of independent School District No. 719.
Adopted by the Prior Lake City Council this 12th day of January, 1987.
I
�
L dia Andren
ATTEST; Mayor
r
Michael A. McGuire
City Manager s
r
(SEAL)
- _MAN
EXTRACT OF MINUTES OF MEETING OF THE
CITY COUNCIL OF THE CITY OF
PRIOR DIKE, MINNESOTA
HELD: ` FEBRUARY 9, 1987
Pursuant- to due call and notice thereof, a regular meeting of the City Council
of -the City of Prior Lake, Minnesota, 'was duly held at the City Hall in said City on
the 9th dy of February, 1987, at 8 :00 p.m. 4
The following members~ were.presentz
and" the following were oosent:
•
Member ri?tiltorald introduced the following resolution and moved its adoption: 1
RESOLUTION MODIFYING TAX INCREMENT-
r FINANCING DISTRICT N0. 14 PLAN AND 1
SETTING FORTH' FINDINGS WITH RESPECT THERETO
WHO RE'AS, the City otelcil of the City of Prior Lake ("Council ") pursuant to a
resolution Gadopted on M�rcn 1�8, •, 1983, app oved the formation of Tax Increment
Financing pm 4istrict 'No. l -1 C'R'edevelopment District"), and in connectiory t rewith,
adopted 'a. tax increMent financing plan ("Plan"); and
i
WHEREAS, the Council has determined that certain modifications to the Plan
are necem - ry and desirable and that, certain- findings must be ma with respect
thereto; and
WHEREAS, the Council pro posts , the modifications pursuant, to Minnesota
Statutes Section 273. (e), the purpose of. said modifications is to allow the City to
acquire property in Municipal 'Developine:ntyDistrict % `No. land to allocate funds for said
acquisition and
WHEREAS, the Board of Commissioners *of Scott County, Minnesota, has been
notified o` the public hearing' forthe review of the proposed modifications= and
WHEREAS, the School Board of Independent . School District No. 719 has been
notified of the public 'heari ft for the reiiiew` 61, the proposed modificationQ and, p
WHEREAS,- the Council has -received ' and .considered tine 'eommeiits of the�<Board
of Commissioners of Scott County' ind. the School • Board. of the independent School y
45istrict •No. 719 respecting the proposed modifications; and
WHEREAS, ~the' Council, on Fefwuary 9, 19, *7, after - shaving provided a notice of ; TM
public hearing in the `official newspaper of ,the, municipilityi co nducted a public hearing r
on the proposed modifications and received public cmwve hu on the same.:
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