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• <br />• <br />• <br />AGENDA ITEM 4 <br />STAFF ORIGINATOR: Mary Alice Divine <br />DATE: 4/08/02 <br />TOPIC: Consideration of Resolution No. 02 -01 approving the <br />Elimination of a Parcel from TIF District No. 1 -9 within <br />Development District No. 1 <br />Vote Required: Simple Majority <br />BACKGROUND: <br />In 1998, the Economic Development Authority created Tax Increment Financing <br />District No. 1 -9 for the purpose of providing TIF assistance to industrial prospects <br />in the Apollo Business Park and the Lakes Business Park. At that time the <br />landowner had interest in developing Lakes Business Park on Lake Drive as a <br />light industrial park. <br />Since that time the landowner has sold a piece of the site to Centennial School <br />District for its new elementary school and the city approved a minor subdivision <br />for the school parcel. The school district wishes to combine the elementary <br />school and the adjacent middle school into one tax exempt parcel. To do so, <br />Anoka County requires the parcel be removed from the TIF District. <br />OPTIONS: <br />1. Adopt Resolution No. 02 -01 Approving the Elimination of a Parcel from TIF <br />District No. 1 -9. <br />2. Do not adopt Resolution No. 02 -01. <br />3. Return to staff for further consideration <br />RECOMMENDATION: <br />Option 1. <br />