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AGENDA ITEM 7 <br />STAFF ORIGINATOR: Brian Wessel <br />DATE: 10/13/97 <br />TOPIC: Resolution No. 97-15 requesting Anoka County to <br />decertify Tax Increment Financing District No. 1-1 <br />(Rice Lake Estates) <br />BACKGROUND: <br />The TIF District established in 1987 was originally for the authorization of the <br />sale of bonds for sanitary sewer improvements within Rice Lake Estates. After <br />adoption of the TIF plan, the developer of the subdivision financed these <br />improvements, so city did not sell bonds as previously authorized. In 1995 the <br />city reimbursed the service area fund $1.47 million from the TIF District for the <br />construction of the West Central Trunk sewer. Tonight's modification was for use <br />in construction of public improvements in the Village. The objectives for which <br />TIF District No. 1-1 was established have been accomplished and this resolution <br />asks Anoka County to decertify the district effective December 31, 1997. <br />OPTIONS: <br />1. Adopt Resolution No. 97-15 requesting Anoka County to decertify Tax <br />Increment Financing District No. 1-1 <br />2. Return to staff for further consideration <br />RECOMMENDATION: <br />Option 1 <br />