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10-13-1997 EDA Packet
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10-13-1997 EDA Packet
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EDA
EDA Document Type
EDA Packet
Meeting Date
10/13/1997
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AGENDA ITEM 8 <br />STAFF ORIGINATOR: Brian Wessel <br />DATE: 10/13/97 <br />TOPIC: Resolution No. 97-16 requesting Anoka County to <br />decertify Tax Increment Financing District No. 1-2 <br />(Sunrise Meadows) <br />BACKGROUND: <br />The TIF District established in 1988 was originally for the authorization of the <br />sale of bonds for sanitary sewer improvements within Sunrise Meadows. As with <br />Rice Lake Estates, the improvements were ultimately financed by the developer, <br />so city did not sell bonds as previously authorized. The city later constructed the <br />West Central Trunk project with funds from the service area fund, and in 1995 <br />the city reimbursed the service area fund $630,000 from the TIF District. <br />Tonight's modification was for use in construction of public improvements in the <br />Village. The objectives for which TIF District No. 1-2 was established have been <br />accomplished and this resolution asks Anoka County to decertify the district <br />effective December 31, 1997. <br />OPTIONS: <br />1. Adopt Resolution No. 97-16 requesting Anoka County to decertify Tax <br />Increment Financing District No. 1-2 <br />2. Return to staff for further consideration <br />RECOMMENDATION: <br />Option 1 <br />
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