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RESOLUTION 2007-16 <br />A RESOLUTION AUTHORIZING REMOVAL AND DECERTIFICATION OF <br />CERTAIN PARCELS FROM THE CITY'S TIF DISTRICT NO. 1-1 <br />It is hereby resolved by the City Council (the "Council') of the City of Hugo, Minnesota <br />(the "City') as follows: <br />1. Recitals. <br />(a) The City has previously established its Tax Increment Financing District <br />No. 1-1 ("TIF District No. 1-1 "). <br />(b) The City proposes to establish Tax Increment Financing District No. 1-2 <br />("TIF District No. 1-2") and have Parcel Nos. 20.031.21.33.0004 and 20.031.21.33.0071 <br />(the "Parcels") removed from TIF District No. 1-1 so they can be included in TIF District <br />No. 1-2. <br />(c) The City has determined that the current net tax capacity of the Parcels <br />proposed to be eliminated from TIF District No. 1-1 ($11,812) equals or exceeds the net <br />tax capacity of the Parcels as originally certified ($4,810) in the original net tax capacity <br />of TIF District No. 1-1; therefore, the City has been advised that the Parcels may be <br />removed from TIF District No. 1-1, pursuant to Minnesota Statutes, Section 469.175 <br />Subd 4(e), by action of the City without the need for public hearing and other notice and <br />processing which would otherwise apply to substantial amendments to tax increment <br />financing districts. <br />2. Decertification and Removal of Parcels. The Council hereby approves and directs <br />that the Parcels be removed and decertified from TIF District No. 1-1. Staff of the City is <br />directed (a) to request in writing the Washington County Auditor to decertify said Parcels from <br />TIF District No. 1-1 in accordance with the provisions of this Resolution and (b) to provide the <br />County Auditor with a certified copy hereof. <br />Adopted on April 16, 2007, by the Hugo City Council. <br />Attest: <br />Mary Creager, City Cl <br />