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RESOLUTION NO. 2000-09 <br />MOUNDS VIEW <br />CHARTER COMMISSION <br />RESOLUTION RECOMMENDING CITY COUNCIL APPROVAL BY <br />ORDINANCE; AN ORDINANCE AMENDING Chapter 7 <br />OF THE MOUNDS VIEW CITY CHARTER. <br />The Mounds View Charter Commission acting under Minnesota Statutes 410.12 <br />Subdivision 7, hereby recommends amending the Charter of the City of Mounds View <br />under Chapter 7 Section 7.13 Subdivisions 1,2,&3 and is amended by the addition of the <br />bold and underlined language to read as follows; <br />Section 7.13 Tax Increment Financing, Economic Subsidies&Tax Abatement <br />Subdivision 1. The City Council of the City of Mounds View, its Economic <br />Development Authority, or any housing or redevelopment authority, or any other agency <br />or instrumentality of the city, may not approve the creation of a new Tax Increment <br />Financing District, if such approval would cause the aggregate amount of captured net <br />tax capacity for all Tax Increment.Financing Districts located in the City of Mounds View <br />to exceed 15 percent of the total tax capacity of the city. <br />Subdivision 2. The City Council of the City of Mounds View, its Economic <br />Development Authority,or any housing or redevelopment authority, or any other agency <br />or instrumentality of the city,may not approve the geographic expansion of an existing <br />Tax Increment Financing District,the addition of any new projects to an existing Tax <br />Increment Financing District, or the granting of any economic subsidy or the granting of <br />an new tax abatements if such a• •royal would cause the a• •re•ate amount of ca•tured <br />net tax capacity for all Tax Increment Financing Districts located in the City of Mounds <br />View to exceed 10 percent of the total tax capacity of the city. <br />Subdivision 3. Economic Subsidy as used in Subdivision 2 <br />Economic Subsidy"means any grant, contribution of property, infrastructure, or <br />services,any loan at rates below those commercially available to the recipient,any <br />reduction or deferral of any tax or any fee,any guarantee of any payment under any loan, <br />lease, or other obligation, or any preferential use of government facilities given to a <br />business, or the granting of any new tax abatements. <br />BE IT RESOLVED that the Charter Commission directs the commission's chairperson to <br />forward this resolution to the Clerk-Administrator for presentation to the City Council <br />under Minnesota Statutes 410.12 Subdivision 7. If the City Council does not adopt this <br />resolution by an unanimous vote of all its members the Charter Commission hereby <br />requests that the above amendment be placed on the ballot at the next general election in <br />November 2000, under Minnesota Statues 410.12 Subdivision 1. <br />Adopted this 31st day of May, 2000 <br />Ct i <br />ission Chair <br />s4mmission Officer <br />Attest: