HomeMy Public PortalAbout1992-061y
Member ;4 t i C
moved its adoption:
introduced the following resolution and
City of Medirna
Resolution No. %nZ"
Resolution Requesting Decertification
of Tax Increment Financing District No. 1-7
WHEREAS, the City of Medina, Minnesota (City) has established
city development district No. 1 (Development District) pursuant to
Minnesota Statutes, Section 469.124 through 469.134 in the
commercial and industrial area along T.H. 55; and
WHEREAS, within the Development District, the City has
established seven tax increment financing districts in order to
assist projects which would not have occurred but for public
intervention; and
WHEREAS, pursuant to its policy and consistent with the
program adopted for the Development District, the City established
Tax Increment Financing District No. 1-7 (TIF No. 1-7) on September
18, 1990; and
WHEREAS, Hennepin County certified the original tax capacity
of the properties within TIF No. 1-7 on , 1990; and
WHEREAS, development which the City anticipated would occur
within TIF No. 1-7 has not occurred and is not likely to occur
within the foreseeable future; and
WHEREAS, the City wishes to eliminate all parcels and to
terminate TIF No. 1-7 prior to two years from the date of
certification of the original tax capacity of the parcels within
the district.
NOW, THEREFORE, Be It Resolved by the City Council of the City
of Medina, Minnesota as follows:
1. TIF District No. 1-7 is hereby terminated and the
following two properties eliminated from the district:
12-118-23-41-0009
12-118-23-41-0010
2. The clerk -treasurer is directed to send a copy of this
resolution to Hennepin County with a request that the above parcels
be eliminated and that TIF No. 1-7 be terminated; and
3. The city staff is authorized and directed to take any and
all other actions reasonably necessary to effect the intent of the
City in this matter.
RHB38795
ME230-48
Dated:
Attest:
1992.
Laura L. Monroe,
Acting Clerk -Treasurer
oGar 'cromite, M. or
The motion for ado tion of the foregoing resolution was duly
seconded by memberand upon vote being taken
thereon, the following voted in favor thereof: N I-Ohse 1' , f h i p,s )
n ra rr cbq , to w
and the following voted against the same: [ c` r E_.
bS��1-E > ^ h Prf r
Whereupon said resolution was declared duly passed and adopted.
RHB38795
ME230-48