HomeMy WebLinkAbout96-230 CITY OF LAKEVILLE
COUNTY OF DAKOTA
STATE OF MINNESOTA
RESOLUTION NO. 96-230
BEING A RESOLUTION OF THE GOVERNING BODY OF
THE CITY OF LAKEVILLE ELECTING TO MAKE A
LOCAL CONTRIBUTION UNDER MINNESOTA
STATUTES, SECTION 273.1399 WITH RESPECT TO TAX
INCREMENT DISTRICT NO. 14 PURSUANT TO LAWS OF
MINNESOTA, CHAPTER 471, ARTICLE 7, SECTION 27.
WHEREAS, in 1994, pursuant to a Tax Increment Financing Plan dated July 18, 1994, there
was created within the City of Lakeville (the "City") a Tax Increment Financing District entitled
"Tax Increment Financing District No. 14" (the "District"), all pursuant to Minnesota Statutes,
Section 469.174 - 469.179; and
WHEREAS, the City Council of the City (the "Council") approved the creation of the District as
required pursuant to Minnesota Statutes, Section 469.175, Subd. 3; and
WHEREAS, changes in Minnesota Statutes, Section 273.1399, by the 1995 Minnesota
Legislature allowed cities to make a qualifying local contribution in lieu of the state reduction in
tax increment financing aids;
WHEREAS, in 1996, the Legislature enacted Laws of Minnesota, Chapter 471, Article 7,
Section 27, which allows a city to elect to make the local contribution for districts that were
certified after Apri130, 1994; and
WHEREAS, the District was requested for certification on October 18, 1994, and the Council
has determined that it is desirable to make the election to make local contributions in lieu of the
state aid reduction under Section 273.1399.
NOW THEREFORE, BE IT RESOLVED by the City Council of the City as follows:
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Lakeville TIF-14 LGA/HACA Alternate Local Contribution Election
City Council Resolution
1. The Council hereby elects to make local contributions with respect to the District as
described in Minnesota Statutes, Section 273.1399, Subd. 6(d).
2. Such election is to be effective on Janu 2 1997.
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3. The Council agrees that the District will be decertified at least three years before the
expiration of the District under Minnesota Statutes, Section 469.176, Subd. 1(b).
4. The Authority is hereby requested to notify the Commissioner of Revenue of such
election prior to January 31, 1997.
DATED: December 16 , 1996
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May
ATTEST:
J
Clerk
•
(SEAL)
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Lakeville TIF-14 LGA/HACA Alternate Local Contribution Election
City Council Resolution