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HomeMy WebLinkAbout96-10K HOUSING AND DEVELOPMENT AUTHORITY IN AND FOR THE CITY OF LAKEVILLE COUNTY OF DAKOTA STATE OF MINNESOTA RESOLUTION NO. 96 -10 BEING A RESOLUTION APPROVING THE DECERTIFICATION BY THE HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF LAKEVILLE OF ITS TAX INCREMENT FINANCING DISTRICT No. 12 (COMMERCE CENTER) WHEREAS, the Housing and Redevelopment Authority in and for the City of Lakeville, Minnesota (the "Authority ") and the City of Lakeville (the "City "), have the legal authority to create Redevelopment Projects pursuant to Minnesota Statutes Section 469.001 to 469.047, inclusive, and to create Tax Increment Financing Districts within such Redevelopment Projects pursuant to Minnesota Statutes Sections 469.174 - 469.179, inclusive. WHEREAS, pursuant to a Redevelopment Plan (the "Redevelopment Plan") and a Tax Increment Financing Plan (the "Tax Increment Plan") dated September 17, 1990, the Authority and the City created Redevelopment Project No. I -35 -1 (the "Project ") and Tax Increment Financing District No. 12 (the "District "); and WHEREAS, all public redevelopment costs contemplated to be paid using tax increment generated from the District have either been paid or the Authority has sufficient funds on hand, including tax increment generated from the District, to pay the remaining public redevelopment costs contemplated by the Redevelopment Plan and Tax Increment District, and the Authority has determined that it is desirable and appropriate to decertify the District at this time. WHEREAS, this resolution clarifies and completes the decertification process initiated by the City on 6/30/95. PAGE 1 of 2 Lakeville TIF -12 Decertification HRA Resolution NOW THEREFORE, BE IT RESOLVED by the Board of Commissioners of the Authority that the District is hereby terminated and the Executive Director of the Authority is hereby directed to furnish the City Council of the City with a copy of this Resolution and to take all other actions, including notifying the County Auditor of Dakota County, necessary to decertify the District. DATE: December 16 1996 ATT Executive Director Chairman PAGE 2 of 2 Lakeville TIF -12 Decertification HRA Resolution