HomeMy WebLinkAbout9B1 - Amoco Gas TIF
16200 Eagle Creek Avenue S.E.
Prior Lake, MN 55372-1714
MEETING DATE:
AGENDA #:
PREPARED BY:
AGENDA ITEM:
BACKGROUND:
ISSUES:
STAFF AGENDA REPORT
December 20, 2004
9-B1
JOHN SULLIVAN, COMMUNITY DEVELOPMENT
DIRECTOR
CONSIDER APPROVAL OF RESOLUTION AUTHORIZING
THE DECERTIFICATION OF TIF DISTRICT 1-2 (AMOCO
GAS)
The purpose of this item is to consider the decertification of Tax
Increment Finance District (TIP) #1-2 (Amoco Gas). Development
District No.1 was established on March 1, 1985 in order to promote
redevelopment of the downtown and commercial properties along
Highway 13. On March 23, 1988, the City Council approved
establishment of TIP District 1-2, which was an approximately one
acre parcel, which included Lots 1, 2, 3 and the west 70 feet of Lot 4,
Block 3, Original Town and all adjacent public right of ways,
including vacated Walker Avenue Right of Way.
TIP District 1-2 was modified on October 7, 1996, and was modified
in conjunction with Municipal Development Districts No.1 and No.2,
along with TIF Districts 1-1 and 2-4. TIF District No. 1-2 is a
Redevelopment District, as is the Development District No.1,
meaning they have up to a 25 year duration. On July 15, 2002, it was
again modified by the City Council along with TIP 1-1.
The City has met all goals and the budget plan for TIP District 1-2,
and it should be decertified. The District is now completed. The Scott
County Auditor and staff are recommending the City Council
decertify TIP District 1-2.
There do not appear to be any outstanding issues with respect to the
decertification of TIP District 2-1. This decertification means that the
property taxes generated by this property will now be distributed to the
taxing jurisdictions of Scott County, School District 719, and
miscellaneous taxing districts. The format of the resolution is in
accordance with the decertification process and is consistent with
previous decertification actions by the City of Prior Lake.
c:\documents and settings\kellym\local settings\temporary internet files\olklfa\tif 1-2 decertification report 12-20-04 for amoco gas.doc
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Phone 952.447.4230 / Fax 952.447.4245
ALTERNATIVES:
The City Council has three alternatives:
1. Adopt the Resolution as presented, or with amendments.
2. Further review the Resolution and direct staff to provide additional
information to the City Council.
3. Do not approve the Resolution as presented.
RECOMMENDATION: Adopt Alternative #1.
ACTION REQUIRED: A motion and a second to adopt the proposed resolution.
ATTACHMENTS: 1. Resolution #04-XXX
REVIEWED BY:
c:\documents and settings\kellym\local settings\temporary internet files\olklfa\tif 1-2 decertification report 12-20-04 for amoco gas. doc
2
16200 Eagle Creek Avenue S.E.
Prior Lake, MN 55372-1714
RESOLUTION 04-xxx
RESOLUTION APPROVING THE DECERTIFICATION OF TAX
INCREMENT FINANCING DISTRICT NO. 1-2 OF THE CITY OF
PRIOR LAKE.
MOTION BY:
SECOND BY:
WHEREAS: On March 23, 1988, the City of Prior Lake (the "City") created its Tax Increment
Financing District No. 1-2 ("District No. 1-2") within its Project Area No.1, which was
established March 1, 1985 in order to promote redevelopment of the downtown and
commercial properties along TH 13 (the "Project Area"); and
WHEREAS: As of the date hereof all bonds and obligations to which tax increment from District No.
1-2 have been pledged have been paid in full or defeased and all other costs of the Project
have been paid; and
WHEREAS: The City desires by this resolution to cause the decertification of District No. 1-2 after
which all property taxes generated by property within the District will be distributed in
the same manner as all other property taxes.
NOW THEREFORE, BE IT RESOLVED BY THE CITY OF PRIOR LAKE, MINNESOTA:
1. The above recitals are incorporated herein as if fully set forth.
2. The City's staff shall take such action as is necessary to cause the County Auditor of Scott
County to decertify the District No. 1-2 as a tax increment district and to no longer remit tax
increment from the District No. l-2 to the City.
Passed and adopted this 20th day of December, 2004
Yes
No
Haugen Haugen
Blomberg Blomberg
LeMair LeMair
Petersen Petersen
Zieska Zieska
Frank Boyles, City Manager
12-20-04 TIP 1-2 (Amoco) RESOLUTION to Decertify
www.cityofpriorlake.com
Phone 952.447.4230 / Fax 952.447.4245