HomeMy WebLinkAbout14-195 Decertification of TIF 4-1
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 14-195
RESOLUTION APPROVING THE DECERTIFICATION OF TAX INCREMENT FINANCING DISTRICT NO. 4-1
Motion By: KEENEY Second By: SOUKUP
WHEREAS, The City of Prior Lake, Minnesota (the "City") established Tax Increment Financing (Economic
Development) District No. 4-1 (the “TIF District”) and approved the Tax Increment Financing
Plan (the “TIF Plan”) pursuant to Minnesota Statutes by Resolution No. 05-85 on May 16, 2005;
and
WHEREAS, The Tax Increment Financing Plan for the TIF District established 2014 as the last year for tax
increments based upon a start year of 2006 for the first increment received; and
WHEREAS, The City desires by this resolution to cause the decertification of the TIF District at the end of its
term on December 31, 2014, after which all property taxes generated by property within the TIF
District will be distributed in 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. 4-1 on December 31, 2014 and to notify the Office of the State Auditor.
PASSED AND ADOPTED THIS 22 DAY OF DECEMBER, 2014.
nd
VOTE Hedberg Keeney McGuire Morton Soukup
Aye
☒☒☒☒☒
Nay
☐☐☐☐☐
Abstain
☐☐☐☐☐
Absent
☐☐☐☐☐
______________________________
Frank Boyles, City Manager