HomeMy WebLinkAbout2007.04.16 RESO 2007-0016RESOLUTION 2007-16
A RESOLUTION AUTHORIZING REMOVAL AND DECERTIFICATION OF
CERTAIN PARCELS FROM THE CITY'S TIF DISTRICT NO. 1-1
It is hereby resolved by the City Council (the "Council') of the City of Hugo, Minnesota
(the "City') as follows:
1. Recitals.
(a) The City has previously established its Tax Increment Financing District
No. 1-1 ("TIF District No. 1-1 ").
(b) The City proposes to establish Tax Increment Financing District No. 1-2
("TIF District No. 1-2") and have Parcel Nos. 20.031.21.33.0004 and 20.031.21.33.0071
(the "Parcels") removed from TIF District No. 1-1 so they can be included in TIF District
No. 1-2.
(c) The City has determined that the current net tax capacity of the Parcels
proposed to be eliminated from TIF District No. 1-1 ($11,812) equals or exceeds the net
tax capacity of the Parcels as originally certified ($4,810) in the original net tax capacity
of TIF District No. 1-1; therefore, the City has been advised that the Parcels may be
removed from TIF District No. 1-1, pursuant to Minnesota Statutes, Section 469.175
Subd 4(e), by action of the City without the need for public hearing and other notice and
processing which would otherwise apply to substantial amendments to tax increment
financing districts.
2. Decertification and Removal of Parcels. The Council hereby approves and directs
that the Parcels be removed and decertified from TIF District No. 1-1. Staff of the City is
directed (a) to request in writing the Washington County Auditor to decertify said Parcels from
TIF District No. 1-1 in accordance with the provisions of this Resolution and (b) to provide the
County Auditor with a certified copy hereof.
Adopted on April 16, 2007, by the Hugo City Council.
Attest:
Mary Creager, City Cl