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PL PACKET 02212006
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PL PACKET 02212006
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Last modified
4/19/2016 4:26:49 PM
Creation date
4/19/2016 4:26:31 PM
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SP Box #
33
SP Folder Name
PL PACKETS 2005-2011
SP Name
PL PACKET 02212006
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Subsection 2-16.Supporting Documentation <br /> Pursuant to M.S. Section 469.175 Subd la, clause 7 the TIF Plan must contain identification and <br /> description of studies and analyses used to make the determination set forth in M.S. Section 469.175 Subd <br /> 3, clause(2)and the findings are required in the resolution approving the TIF district.. Following is a list of <br /> reports and studies on file at the City that support the Authority's findings: <br /> • Tax Increment Financing Application <br /> • Summary of Environmental -Related Redevelopment Issues; Apache Plaza Mall; St. Anthony, <br /> Minnesota. Braun Intertec. July 9, 2003. <br /> • Asbestos-Related Costs for the Re-Occupancy of the Apache Plaza, St. Anthony, MN. Braun <br /> Intertec July 9,2003. <br /> Subsection 2-17.Definition of Tax Increment Revenues <br /> Pursuant to M.S., Section 469.174, Subd. 25, tax increment revenues derived from a tax increment <br /> financing district include all of the following potential revenue sources: <br /> 1. Taxes paid by the captured net tax capacity,but excluding any excess taxes, as computed under <br /> M.S., Section 469.177; <br /> 2. The proceeds from the sale or lease of property,tangible or intangible,purchased by the Authority <br /> with tax increments; <br /> 3. Repayments of loans or other advances made by the Authority with tax increments; and <br /> 4. Interest or other investment earnings on or from tax increments. <br /> Subsection 2-18.Modifications to the District <br /> In accordance with M.S., Section 469.175, Subd. 4,any: <br /> 1. Reduction or enlargement of the geographic area of Redevelopment Project Area No. 3 or the <br /> District; <br /> 2. Increase in amount of bonded indebtedness to be incurred,including a determination to capitalize <br /> interest on debt if that determination was not a part of the original plan,or to increase or decrease <br /> the amount of interest on the debt to be capitalized; <br /> 3. Increase in the portion of the captured net tax capacity to be retained by the HRA or City; <br /> 4. Increase in total estimated tax increment expenditures; or <br /> 5. Designation of additional property to be acquired by the HRA or City, <br /> shall be approved upon the notice and after the discussion,public hearing and findings required for approval <br /> of the original TIF Plan. <br /> Pursuant to M.S. Section 469.175 Subd. 4(b),the geographic area of the District may be reduced,but shall <br /> not be enlarged after five years following the date of certification of the original net tax capacity by the county <br /> auditor. If a redevelopment district is enlarged,the reasons and supporting facts for the determination that <br /> the addition to the district meets the criteria of M.S., Section 469.174,Subd. 10,paragraph(a),clauses(1) <br /> to(5),must be documented in writing and retained. The requirements of this paragraph do not apply if(1) <br /> the only modification is elimination ofparcel(s)from Redevelopment Project Area No.3 or the District and <br /> (2)(A)the current net tax capacity of the parcel(s)eliminated from the District equals or exceeds the net <br /> Housing and Redevelopment Authority of St Anthony Tax Increment Financing Plan for Tax Increment Financing District No23-3 <br />
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