HomeMy Public PortalAbout1985-019Member /Ae[`'e`r
moved its adoption:
introduced the following resolution and
CITY OF MEDINA
RESOLUTION NO. �-3 --
RESOLUTION APPROVING A MODIFIED DEVELOPMENT PROGRAM
AND TAX INCREMENT FINANCING PLANS FOR
DEVELOPMENT DISTRICT NO. 1 AND
TIF DISTRICTS NOS. 1-1 and 1-2
WHEREAS, the city council desires to modify the development
program and TIF plans for development district No. 1 and TIF
districts Nos. 1-1 and 1-2 which were originally approved on
January 29, 1985; and
WHEREAS, modification of said programs and plans has been
accomplished pursuant to Minnesota Statutes, Section 273.74,
subd. 4, including submission of the modified program and plans
to the school district and to Hennepin county for comment; and
WHEREAS, the modified development program and TIF plans are
contained in a document entitled "Development District No. 1 and
Tax Increment Financing Plan for Tax Increment District No. 1-1
an Tax Increment District No. 1-2", dated January 11, 1985 and
modified March 5, 1985, now on file with the city clerk; and
WHEREAS, the city council has this date conducted the
required public hearing on the modification of the development
program and TIF plans, at which the views of all interested
parties were heard.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Medina, Minnesota as follows:
1. The modified development program is approved.
2. The modified TIF plans are approved.
3. All of the findings set forth in Resolution No. 8.5- `/
adopted on January 29, 1985 establishing development district No.
1 and TIF districts Nos. 1-1 and 1-2 are hereby adopted by
reference in regard to the modified program and plans.
4. The city clerk is authorized and directed to transmit a
certified copy of this resolution together with a certified copy
of the modified development program and TIF plans to the county
auditor of Hennepin county with a request that the original
assessed valuation of the TIF districts be certified to the city
pursuant to Section 273.76, subd. 1 of the TIF Act and to file a
copy of the modified development program and TIF plans with the
Minnesota commissioner of energy and economic development.
5. The city council shall at the appropriate time take
action to issue and sell its general obligation bonds pursuant to
the TIF Act to finance the public costs identified in the mod-
ified TIF plans.
DATED: 7/44, r, A ) /qc
ATTEST:
Donna Roehl, Clerk/Treasurer
The motion for the adoption of the
seconded by member /l e /da r)-,et r
thereon, thevoted in fa /L/
and the following voted against the same:
foregoing resolution was duly
and upon vote being taken
o4 thereof,-
/ 7 e.//; /Ceirev
/Jorge
Whereupon said resolution was declared duly passed and adopted.
,11
.1,