HomeMy Public PortalAbout2023-92 Reso TIF 1-9 DecertificationResolution No. 2023-92
September 19, 2023
Member Cavanaugh introduced the following resolution and moved its adoption:
CITY OF MEDINA
RESOLUTION NO. 2023-92
BEING A RESOLUTION APPROVING THE DECERTIFICATION OF TAX
INCREMENT FINANCING DISTRICT NO. 1-9 OF THE CITY OF MEDINA.
WHEREAS, on May 18, 2004, the City of Medina (the "City") created its Tax Increment
Financing District No. 1-9, (the "District") within its Development District No. 1 (the "Project"); and
WHEREAS, on February 1, 2024, all tax increment obligations to which tax increment from
the District have been pledged will be paid in full; and
WHEREAS, the City desires by this resolution to cause the decertification of the District
after which all property taxes generated by property within the District will be distributed in the same
manner as all other property taxes.
NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Medina that
the City's staff shall take such action as is necessary to cause the County Auditor of Hennepin County
to decertify and to no longer remit tax increment from the District to the City for taxes payable in
2024.
Dated: September 19, 2023.
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Kathleen Martin, Mayor
ATTEST:
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Caitlyn Walker, City Clerk
The motion for the adoption of the foregoing resolution was duly seconded by member
DesLauriers and upon vote being taken thereon, the following voted in favor thereof:
Albers, Cavanaugh, DesLauriers, Martin
And the following voted against same: (Absent: Reid)
None
Whereupon said resolution was declared duly passed and adopted.