HomeMy WebLinkAbout04-190
16200 Eagle Creek Avenue S.E.
Prior Lake, MN 55372-1714
RESOLUTION 04-190
A RESOLUTION APPROVING THE DECERTIFICATION OF
TAX INCREMENT FINANCING DISTRICT NO. 2.2 (BECKER ICE ARENA PRODUCTS)
OF THE CITY OF PRIOR LAKE.
Motion By: PETERSEN
Second By: BLOMBERG
WHEREAS, on March 8, 1994, the City of Prior Lake (the "City") created its Tax Increment Financing
District No. 2-2 ("District No. 1-2") within its Project Area No. 2 (the "Project Area"); and
WHEREAS, as of the date hereof, all bonds and obligations to which tax increment from District No. 2-
2 have been pledged (with the exception of $4,688.70) have been paid in full or defeased
and all other costs of the Project have been paid; and
WHEREAS, the development agreement expires on December 31, 2004; and
WHEREAS, the developer has confirmed their commitment to pay the City in full the outstanding
$4,688.70 by December 31, 2004; and
WHEREAS, the City desires by this resolution to cause the decertification of District 2-2 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 COUNCIL OF PRIOR LAKE, MINNESOTA
that:
1. The recitals set forth above are incorporated herein.
2. City staff shall take such action as is necessary to cause the County Auditor of Scott County to
decertify the District No. 2-2 as a tax increment district and to no longer remit tax increment from
District 2-2 to the City.
PASSED AND ADOPTED THIS 20TH DAY OF DECEMBER, 2004.
Haugen X Haugen
Blomberg X Blomberg
LeMair X LeMair
Petersen X Petersen
Zieska X Zieska
YES
NO
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