HomeMy WebLinkAbout96-220 CITY OF LAKEVILLE
COUNTY OF DAKOTA
STATE OF~MINNESOTA
RESOLUTION NO. 96-220
BEING A RESOLUTION OF THE GOVERNING BODY OF
THE CITY OF LAKEVILLE ELECTING TO CHANGE THE
METHOD OF CALCULATION OF TAX INCREMENT FOR
ITS TAX INCREMENT DISTRICT NO. 15 (Century)
PURSUANT TO MINNESOTA STATUTES, SECTION
469.177, SUBDIVISION 3(c).
WHEREAS, in 1994, pursuant to a Tax Increment Financing Plan dated September 6, 1994,
there was created within the City of Lakeville (the "City") a Tax Increment Financing District
entitled "Tax Increment Financing District Number 15" (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, at the time of approval of the District, the Council elected to have tax increment
from the District calculated as described in Minnesota Statutes, Section 469.177, Subd. 3(a);
WHEREAS, Minnesota Statutes, Section 469.177, Subd. 3(c) provides that a municipality may
elect to change the method of calculating tax increment within a Tax Increment District from the
method described in Minnesota Statutes, Section 469.177, Subd. 3(a) to the method described in
Subdivision 3(b); and
WHEREAS, the Council has determined that it is desirable to make the change in the method of
calculating tax increment in the District as permitted in Section 469.177, Subd. 3(c).
NOW THEREFORE, BE IT RESOLVED by the City Council of the City as follows:
•
PAGE 1 of 2
Lakeville TIF-15 FISCAL DISPARITIES OPTION
City Council Approval Resolution
s,
1. The Council hereby elects to change the method of calculating tax increment within
the District to the method described in Minnesota Statutes, Section 469.177, Subd.
3(b)
2. Such election is to be effective on January 2, 1997.
3. Staff of the City are hereby authorized and directed to notify the County Auditor of
Dakota County of such change and to take all other actions necessary to implement
such change.
DATED: December 16 , 1996
May
ATTEST:
Clerk
• (SEAL)
PAGE 2 of 2
Lakeville TIF-I S FISCAL DISPARITIES OPTION
City Council Approval Resolution