HomeMy WebLinkAbout2011-002 EDAR Commissioner Dan Ryan introduced the following resolution and moved
its adoption:
EDA RESOLUTION NO. 2011 -02
RESOLUTION APPROVING MODIFICATION OF TAX INCREMENT
FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 3
WHEREAS, by a resolution approved December 19, 1994, the City Council of the
City of Brooklyn Center (the "City ") approved the Tax Increment Financing Plan (the "Plan ") for
Tax Increment Financing District No. 3 (the "TIF District "), pursuant to and in conformity with
Minnesota Statutes, Sections 469.090 through 469.1081 (the "EDA Act ") and Sections 469.174 to
469.179 (the "TIF Act "); and
WHEREAS, the TIF District and TIF Plan were initiated and approved by the
Economic Development Authority in and for the City of Brooklyn Center (the "Authority "), which
administers and controls the TIF District: and
WHEREAS, the City and Authority have determined a need to remove parcels from
the TIF; and
WHEREAS, under Section 469.175, subd. 4 of the TIF Act, the Authority may
modify the Plan for the TIF District without the notice and hearings required for a new district, if the
changes are not those described in Section 469.175, subdivision 4(b), clauses (1) through (6); and
WHEREAS, the proposed modifications to the TIF Plan include revised line items
of expenditures, but do not increase the total estimated cost of the project or the total amount of
bonded indebtedness; and
WHEREAS, the City Council of the City approved the TIF Plan modification on
January 24, 2011.
NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority
in and for the City of Brooklyn Center as follows:
1. The modification to the Plan removing 13 parcels from the District is hereby approved in
substantially the form on file in City Hall.
2. The City Manager is authorized to forward a copy of the modified Plan to the Department
of Revenue and the State Auditor pursuant to Minnesota Statutes 469.175, subd.4a.
3. The City Manager is authorized and directed to forward a copy of the Plan to Hennepin
County for information purposes.
EDA RESOLUTION NO. 2011 -02
January 24, 2011
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Date President
The motion for the adoption of the foregoing resolution was duly seconded by Commissioner
Kay Lasman
and upon vote being taken thereon, the following voted in favor thereof:
Tim Willson, Carol Kleven, Kay Lasman, Tim Roche, and Dan Ryan;
and the following voted against the same: none;
whereupon said resolution was declared duly passed and adopted.
Tax Increment Financing District No. 03
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