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HomeMy WebLinkAbout2017-003 EDARCommissioner Dan Ryan introduced the following resolution and moved its adoption: EDA RESOLUTION NO. 201 7-03 RESOLUTION APPROVING THE REMOVAL OF A PARCEL FROM TAX INCREMENT FINANCING DISTRICT NO. 3 WITHIN HOUSING DEVELOPMENT AND REDEVELOPMENT PROJECT NO. 1. (2500 CO. RD. 10— FORMER BROOKDALE FORD SITE) WHEREAS, the Economic Development Authority of the City of Brooklyn Center, Minnesota (the "EDA") and the City of Brooklyn Center, Minnesota (the "City") have heretofore created Tax Increment Financing District No. 3 (the "TIF District") within Housing Development and Redevelopment Project No. 1 (the "Project") and approved a tax increment financing plan (the "TIF Plan") for the TIF District, pursuant to Minnesota Statutes, Sections 469.174 to 469.1794, as amended (the "TIF Act"); and WHEREAS, the following parcel (the "Property") was included in the TIF District: Parcel Identification No. 0211821240019 WHEREAS, the EDA desires by this resolution to amend the TIF Plan to remove the Property from the TIF District, thereby reducing the size thereof, and WHEREAS, the Property was acquired by the EDA after certification of the TIF District and is owned by the EDA and therefore, pursuant to Section 469.177, Subdivision 1(a) of the TIF Act the net tax capacity of the Property is excluded from the net tax capacity of the TIF District; therefore, the current net tax capacity of the Property equals the original net tax capacity of the Property in the TIF District's original net tax capacity and, consequently, this amendment to the TIF Plan may be accomplished without notice or hearing pursuant to Section 469.175, Subdivision 4(e)(2)(A) of the TIF Act. NOW THEREFORE, BE IT RESOLVED by the Economic Development Authority of Brooklyn Center, Minnesota, that the TIF District and the TIF Plan for the TIF District are hereby amended to remove the Property. The EDA Secretary is authorized and directed to notify the County Auditor of this modification pursuant to Section 469.175, Subdivision 4(e) of the TIF Act. EDA RESOLUTION NO. 2017 February 13, 2017 Date President The motion for the adoption of the foregoing resolution was duly seconded by Commissioner Kris Lawrence-Anderson and upon vote being taken thereon, the following voted in favor thereof: Tim Wilson, Marguita Butler, April Graves, Kris LawrenceAnderson, Dan Ryan and the following voted against the same: whereupon said resolution was declared duly passed and adopted.