HomeMy WebLinkAbout2002-012 EDAR1
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Member Kay Lasman
moved its adoption:
RESOLUTION APPROVING AMENDMENT NO. 1 TO THE TAX INCREMENT
FINANCING PLAN FOR TAX INCREMENT FINANCING (SOILS CONDITION)
DISTRICT NO. 4
BE IT RESOLVED by the Board of Commissioners of the Economic
Development Authority in and for the City of Brooklyn Center (the "Authority as follows:
Section 1. Recitals.
EDA RESOLUTION NO. 2 0 0 2 -12
introduced the following resolution and
1.01. On March 8, 1999, the Authority approved the creation of Tax Increment
Financing (Soils Condition) District No. 4, and adopted a Tax Increment Financing Plan therefor,
all pursuant to and in accordance with Minnesota Statutes, Sections 469.090 to 469.123, both
inclusive, as amended, and Minnesota Statutes, Sections 469.174 to 469.179, both inclusive, as
amended.
1.02. The Authority has investigated the facts and has determined that it is necessary
and desirable to amend the Tax Increment Financing Plan to unfreeze the original local tax rate
applicable to the Tax Increment District in accordance with Minnesota Statutes, Section
469.1792, and has prepared a document entitled Amendment No. 1 to the Tax Increment
Financing Plan (Amendment No. 1
1.03. The Authority has performed all actions required by law to be performed prior to
the adoption of Amendment No. 1 to the Tax Increment Financing Plan, including, but not
limited to, notification of Hennepin County and Independent School District Number 281, which
have taxing jurisdiction over the property included in Tax Increment Financing (Soils Condition)
District No. 4.
Section 2. Ratification of Findings for the Establishment of Tax Increment Financing
(Soils Condition) District No. 4 and Adoption of a Tax Increment Financing Plan therefor.
The Board of Commissioners hereby ratifies its earlier findings that the creation of Tax
Increment Financing (Soils Condition) District No. 4 and adoption of a Tax Increment Plan
therefor are intended and, in the judgment of the Board of Commissioners, its effect will be, to
provide an impetus for the removal and remediation of hazardous substances to allow
development to proceed on certain polluted land, will increase employment and the tax base, and
otherwise promote certain public purposes and accomplish certain objectives as specified in the
Tax Increment Financing Plan.
Section 3. Amendment No. 1 to Tax Increment Financing Plan.
3.01. Amendment No. 1 to the Tax Increment Financing Plan for Tax Increment
Financing (Soils Condition) District No. 4 is hereby approved and Amendment No. 1 to the Tax
Increment Financing Plan shall be placed on file in the office of the City Clerk.
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RESOLUTION NO. 2002 -12
3.02. The staff of the City and Authority and the City's and Authority's advisors and
legal counsel are authorized and directed to proceed with the implementation of Amendment No.
1 to the Tax Increment Financing Plan.
October 28, 2002
Date i Presiden
The motion for the adoption of the foregoing resolution was duly seconded by commissioner
Bob Peppe and upon vote being taken thereon, the following voted in favor thereof:
Myrna Kragness, Kay Lasman, Ed Nelson, and Bob Peppe;
and the following voted against the same: none
whereupon said resolution was declared duly passed and adopted.