01/26/1987 Council Minutes (2) - Laserfiche WebLink

Home Search

COUNCIL MEETING January 26, 1987 E '1 3.04. The Council further finds Tax withnthemsoundlneedsng Plan will afford maximum opportunity consistent of the City as a whole, for the development of Development District No. 1 by private enterprise. The specific basis for such finding being: As previously stated, the development activities, consisting of public improvements to be financed by tax increment finningnareprise necessary so that additional housing development by private can occur within Development District No. 1. Section 4. A••roval of the Df° Development District No lnandment Financin: Plan and Establishment o Housing District No. 1 -1. 4.01. The Development Program for DevelopmentDistrict No. tare and the Tax Increment Financing Plan for Housing District hereby approved and adopted and shall be placed on file in the office opment of the City Administrator. eseof hichr abe setafortheanDthelDevelop District No. 1, the boundari ment Program adopted for Development District No. 1. iis heerebyl' created within the Development tD�oT�hcinNo. thelTaxulncrement Financing the boundaries of which aDistrict No. 1 -1. Plan adopted for Housing 4.02. The staff of the City, the City's advisors and legal counsel are authorized and directed to proceed with the implementation of the Development Program and the Tx Increment Financing l a noandil this purpose to negotiate, draft, prepare a n documents and for its consideration all further plans, resolutions, contracts necessary for this purpose. Section 5. Certification. The Auditor of Anoka County is requested to certify the original assessed value of Housing District No. 1 -1 as described in the Tax Increment Financing Plan relating thereto, and to certify in each. year thereafter the amount by which the original assessed value has in- creased or decreased in accordance with the Act; and the City Admin- istrator is authorized and directed to forthwith transmit this request to the County Auditor in such form and content as the Auditor may specify, together with a list of all properties within Housing Dis- trict No. 1 -1 for which building permits have been issued during the 18 months immediately preceeding the adoption of this Resolution. Section 6. Filing. The City Administrator is further authorized and directed ttoofilel a copy of the Tax Increment Financing Plan for Housing Distric. with the Minnesota Energy and Economic Development Authority. 1 1