3.4. SR 10-12-1998ity of
iver
TO:
_~FROM:
DATE:
SUBJECT:
MEMORANDUM
**Item 3.4.**
Mayor & City Council
Paul T. Steinman, Director of Economic
Development
October 12, 1998
Consider Resolution 98-__ Calling a
Public Hearing to Consider a Budget
Modification to TIF District No. 9
(Tescom)
Background
The EDA is considering a resolution on October 12, 1998, asking the City
Council to call a public hearing to consider a budget modification to Tax
Increment Financing Plan for Tax Increment Financing District No. 9. The
purpose of this budget modification is to allow the potential of utilizing
excess tax increment to complete various minor public improvements in the
Elk River Industrial Park. This modification will not affect the length of Tax
Increment Financing District No. 9 - it is proposed to be decertified on
December 31, 1998.
The proposed public hearing is to be held on Monday, December 21, 1998, at
approximately 6 p.m. before the City Council.
Recommendation
Staff recommends approval of Resolution 98- calling for a public hearing
to be scheduled on Monday, December 21, 1998 at 6 p.m., to consider a
budget modification to the Tax Increment Financing Plan for Tax Increment
Financing District No. 9.
13065 Orono Parkway * P.O. Box 490 · Elk River, MN 55330 · TDD & Phone: (612) 441-7420 · Fax: (612) 441-7425
RESOLUTION 98 -
A RESOLUTION FOR THE CITY OF ELK RIVER
A RESOLUTION CALLING FOR A PUBLIC HEARING
BY THE CITY COUNCIL ON THE MODIFICATION OF THE
BUDGET IN THE PLAN FOR
TAX INCREMENT FINANCING DISTRICT NO. 9
BE IT RESOLVED by the City Council (the "Council") for the City of Elk River,
Minnesota (the "City"), as follows:
Section 1. Public Hearing. This Council shall meet on Monday, December 21,
1998, at approximately 6 p.m., to hold a public hearing on the proposed
modification of the budget in Tax Increment Financing Plan for Tax
Increment Financing District No. 9 (an Economic Development District), all
pursuant to and in accordance with Minnesota Statutes, Sections 469.090
through 469.1081, inclusive, as amended, and Minnesota Statutes, Section
469.174 through 469.179, inclusive, as amended; and,
Section 2. Notice of Public Hearing, Filing of Program and Plan. Staff is
authorized and directed to prepare the Modification of the budget to Tax
Increment Financing Plan and to forward documents to the appropriate
taxing jurisdictions including Sherburne County and Independent School
District No. 728. The City Administrator is authorized and directed to cause
notice of the hearing, together with an appropriate map as required by law,
to be published at least once in the official newspaper of the City not later
than 10 nor more than 30 days prior to December 21, 1998, and to place a
copy of the Budget Modification on file in the City Administrator's office at
City Hall and to make such copy available for inspection by the public.
Passed and adopted by the City Council of the City of Elk River this 12th day of
October, 1998.
ATTEST:
Henry A. Duitsman, Mayor
Sandra A. Peine, City Clerk
THE ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY AND
THE ELK RIVER CITY COUNCIL
FOR THE
MODIFICATION OF THE BUDGET IN TAX INCREMENT DISTRICT NO. 9
(TESCOM)
(an economic development districO
Schedule
October 12, 1998
October 12, 1998
November 10, 1998
November 10, 1998
November 24, 1998
December 2, 1998
December 9, 1998
December 14, 1998
December 21, 1998
December 22, 1998
EDA requests City Council to call for a public hearing to be
held on December 21, 1998 to modify the budget in Tax
Increment Financing District No. 9.
City Council calls for a public hearing to be held on
December 21, 1998 to modify the budget in Tax Increment
Financing District No. 9.
Complete budget modification.
Budget modification forwarded to School District and
County Board (at least 30 days prior to public hearing).
Planning Commission reviews budget modification.
Send public hearing notice and map to local paper.
Date of publication of hearing notice and map (at least 10
days but not more than 30 days prior to public hearing).
EDA approves budget modification.
City Council holds public hearing on modification to the
budget in Tax Increment Financing District No. 9 and
passes resolution approving such budget modification.
Send budget modification to County/State.
TI9mod