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AGENDA ITEM 6 <br />STAFF ORIGINATOR: Brian Wessel <br />DATE: 10/13/97 <br />TOPIC: <br />BACKGROUND: <br />Resolution No. 97-14 adopting modified plans for Tax <br />Increment Financing District Nos. 1-2 (Rice Lake <br />Estates) and 1-2 (Sunrise Meadows) <br />On August 25, 1997 the EDA authorized preparation of a modification of the <br />plans for TIF District Nos. 1-1 and 1-2. This plan modification will authorize the <br />transfer of $630,000 from TIF District 1-1 and $370,000 from TIF District 1-2 for <br />public improvements within The Village. <br />The plan was sent to School District #12 and Anoka County for review. Later <br />tonight the City Council will hold a public hearing on the modification of the plans <br />and will then decertify the two districts. <br />OPTIONS: <br />1. Adopt Resolution No. 97-14 to modify tax increment financing plans for TIF <br />District Nos. 1-1 and 1-2. <br />2. Return to staff for further consideration. <br />RECOMMENDATION: <br />Option 1 <br />