90-074 RES
.
THE CITY COUNCIL FOR THE CITY OF ELK RIVER, MINNESOTA
RESOLUTION NO. 90- ~
A RESOLUTION REVOKING THE TAX INCREMENT FINANCING PLAN FOR
TAX INCREMENT FINANCING DISTRICT NO.4, ABOLISHING TAX
INCREMENT FINANCING DISTRICT NO.4, AND REQUESTING THE
SHERBURNE COUNTY AUDITOR TO DECERTIFY TAX INCREMENT
FINANCING DISTRICT NO.4.
The City Council for the City of Elk River (the City) acting
pursuant to its authority under the Minnesota Tax Increment
Financing Act (Minnesota Statutes, Sections 469.174, et seq.),
hereby finds, determines, and resolves as follows:
e
e
FINDINGS
1.
That City of Elk River Development District No. 1 was
designated as a municipal development district
pursuant to Minnesota Statutes, Chapter 469.124, ~
~., and that the Development Program for Development
District No. 1 was approved by resolution of the City
Council for the City of Elk River dated April 1, 1985,
and amended by resolutions of the City Council and
Economic Development Authority dated January 27, 1986,
November 3D, 1987, and November 6, 1989.
2. That the Development Program for Development District
No. 1 anticipates and provides for the adoption of Tax
Increment Financing Plans and the establishment of Tax
Increment Financing Districts to assist in the
financing of public improvements necessary to attract
new development to the Development District.
3.
That the City Council of the City of Elk River, on.
November 30, 1987, adopted a resolution approving the
Tax Increment Financing Plan for Tax Increment
Financing District No.4 (TIF District No.4),
establishing TIF District No.4, and directing City
staff and consultants to take the steps necessary to
implement TIF District No.4.
to
4. That the Tax Increment Financing Plan for TIF District
No. 4 was submitted to Sherburne County for
certification of the original assessed value of the
property within TIF District No.4, and TIF District
No. 4 was subsequently certified by Sherburne County.
5.
That the City Council of the City of Elk River has
determined that it is in the best interests of the
City at this time to decertify and abolish TIF
District No.4.
.
e
e
RESOLVED
A.
That the City Council of the City of Elk River hereby
adopts each and everyone of the findings set forth
above.
B. That the City Council of the City of Elk River hereby
revokes the Tax Increment Financing Plan for TIF
District No.4 and abolishes TIF District No.4.
C. That the City Council of the City of Elk River hereby
directs its staff and consultants to proceed to take
the steps necessary to abolish and decertify TIF
District No. 4 and further requests the Sherburne
County Auditor to decertify TIF District No.4.
D. That Development District No. 1 shall remain in place
and the Development Program for Development District
No. 1 shall remain in effect.
The following Resolution was introduced by Councilmember
Kropuenske
and duly seconded by Councilmember
Ho1mgren
The following voted in favor of
the Resolution:
Mayor Tralle, Counci~embers Kropuenske, Holmgren, Schuldt
and Dobel
The following voted against:
None
The following were absent:
None
~
Whereupon the Resolution was adopted.
,
ADOPWED: December 17, 1990
/
James Tralle, Mayor
2 .
.
e
e
ATTEST:
<'Q~
Pa rick D. Klaers, City Administrator
3.
TJK:FH9s
..