HomeMy WebLinkAbout96-06HOUSING AND DEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF LAKEVILLE
COUNTY OF DAKOTA
STATE OF MINNESOTA
RESOLUTION NO. 96 -6
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. 4 (Toro)
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 May, 1984, the Authority and the
City created Airlake Redevelopment Project No. I (the "Project ") and Tax Increment Financing
District No. 4 (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 or other pooled Districts (TIF -1 Despatch) 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.
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
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Lakeville TIF-4 Decertification
HRA Resolution
other actions, including notifying the County Auditor of Dakota County, necessary to decertify
the District.
DATE: December 16 , 1996
ATT
tR J
Executive Director
Chairman
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Lakeville TIF -4 Decertification
HRA Resolution