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HomeMy WebLinkAbout1997-014 EDAR1 1 1 Commissioner Kathleen Carmody introduced the following resolution and moved its adoption: EDA RESOLUTION NO. 97 -14 RESOLUTION APPROVING MODIFICATIONS NO. 1 AND NO. 2 TO THE TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 03 AND REQUESTING THE APPROVAL OF THE CITY COUNCIL BE IT RESOLVED by the Board of Commissioners (the "Board of the Economic Development Authority in and for the City of Brooklyn Center, Minnesota (the "EDA as follows: 1. Proposed Modification. In order to finance the public redevelopment costs to be incurred by the EDA and the City of Brooklyn Center (the "City in connection with Housing Development and Redevelopment Project No. 1 (the "Redevelopment Project a housing development and redevelopment project established by the EDA pursuant to Minnesota Statutes, Section 469.001 to 469.047, as amended, and Minnesota Statutes, Sections 469.090 to 469.108, as amended, the EDA has approved Tax Increment Financing Plan for Tax Increment Financing District No. 03, pursuant to the provisions of Minnesota Statutes, Section 469.175 (the "Financing Plan which establishes Tax Increment Financing District No. 03 (the "District as a tax increment financing district, as defined in Minnesota Statutes, Section 469.174, Subd. 9. It has been proposed that the EDA approve Modification No. 1 and Modification No. 2 (the "Modifications to the Financing Plan. 2. Approval of Modifications. The Modifications have been presented to this Board and are ordered placed on file in the office of the Executive Director of the EDA, and the Modifications are hereby approved. The Modifications further serve the original goals and purposes of the City and EDA in approving the Redevelopment Projects and the Financing Plan. 3. Presentation to City Council. The Modifications hereby approved shall be presented to the City Council for a public hearing thereon pursuant to Minnesota Statutes, Section 469.029, Subd. 6, and Section 469.175, Subd. 4. April 28, 1997 Date I2li t it Preside The motion for the adoption of the foregoing resolution was duly seconded by commissioner Robert Peppe and upon vote being taken thereon, the following voted in favor thereof: Myrna Kragness, Kathleen Carmody, Kay Lasman, and Robert Peppe; and the following voted against the same: none, whereupon said resolution was declared duly passed and adopted.