HomeMy WebLinkAbout18-005CITY OF LAKEVILLE
RESOLUTION NO. 18-05
RESOLUTION AUTHORIZING FUNDING FOR TAX INCREMENT FINANCE DISTRICT
NO. 20 ADMINISTRATIVE COSTS
WHEREAS, the tax increment for TIF district No. 20 received from Dakota County in
2017 must be returned to the County for redistribution due to decertification of the district; and
WHEREAS, administrative costs have been incurred in the set up and administration of
the tax increment financing district to date, which are ineligible for funding from tax increment;
and
WHEREAS, the estimated administrative costs of TIF District No. 20 are $6,072.35 and
the General Fund is the anticipated funding source.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lakeville,
Minnesota, staff is hereby authorized to amend the 2017 budgets and make the appropriate
transfers between funds with respect to the funding sources sufficient to close the TIF District
No. 20 fund as of December 31, 2017.
ADOPTED by the Lakeville City Council this 2nd day of January 2018
IF-
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WI 'Anderson,
Charlene Friedges, City Cl