HomeMy WebLinkAbout04-090 - ADMIN Resolution - City Council - 2004/08/02RESOLUTION NO. 04-090
RESOLUTION APPROVING THE ELIMINATION OF PARCELS
FROM THE TRUNK HIGHWAY 7
REDEVELOPMENT TAX INCREMENT FINANCING DISTRICT
(HENNEPIN COUNTY TIF DISTRICT NO. 1302),
WITHIN REDEVELOPMENT PROJECT NO. 1,
IN THE CITY OF ST. LOUIS PARK.
WHEREAS, on Apnl 15, 1985, the City of St. Louis Park City Council (the "City)
established the Trunk Highway 7 Redevelopment Tax Increment Financing District (the "TIF
District") within its Redevelopment Project No. 1 (the "Project"); and
WHEREAS, the St. Louis Park Economic Development Authonty (the "EDA") is the
administrative authority for the TIF Distnct; and
WHEREAS, the TIF Distnct, in part, included the following parcel numbers which were
previously certified in the TIF Distnct.
1611721330091
1611721330092
1611721330089*
1611721330094
* "Knocked Down" parcel being removed from the TIF Distnct; and
WHEREAS, the City desires by this resolution to cause the elimination of the parcel
numbers listed above (the "parcels") within the TIF District thereby reducing the size of the TIF
District; and
WHEREAS, because the total current net tax capacity of the parcels to be eliminated
from the TIF Distnct equals or exceeds the net tax capacity of the parcels in the TIF Distnct's
onginal net tax capacity, the holding of a public hearing is not required pursuant to Minnesota
Statutes, Section 469.175, Subd. 4:
NOW THEREFORE, BE IT RESOLVED by the City that the parcels listed in this
resolution are hereby eliminated from the TIF District and the City's staff shall take such action
as is necessary to notify Hennepin County of the reduction in the geographic area of the TIF
istnct • used by the elimination of such parcels.
Reviewed for Administration:
VIM
City Manag
ATTEST.
nthia Reichert, City Clerk
Adop ed by the City Council August 2, 2004
May
(Seal)