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Home My WebLink About6.d. Call for a Public Hearing for Modification to TIF District No. 1 and Development ProgramCITY OF ROSEMOUNT EXECUTIVE SUMMARY FOR ACTION CITY COUNCIL MEETING DATE: MARCH 21, 2000 AGENDA ITEM: Call For A Public Hearing for Modification to TIF District No. 1 and Development Program AGENDA SECTION: CONSENT PREPARED BY: THOMAS D. BURT, CITY ADMINISTRATOR AGE Nyft-# 6 — D ATTACHMENTS: RESOLUTION APPROVED BY: We continue to move forward with company "W' and find it necessary to issue debt for the final improvements to the Rosemount Business Park. The Tax Increment Financing District will need to be modified to recognize the increase of debt level for the Plan. RECOMMENDED ACTION: MOTION to approve A RESOLUTION CALLING FOR A PUBLIC HEARING BY THE CITY ON THE PROPOSED ADOPTION OF THE MODIFICATION TO THE DEVELOPMENT PROJGRAM FOR DEVELOPEMTN DISTRICT NO. 1, AND THE PROPOSED MODIFICATION OF THE INDUSTRIAL PARK TAX INCREMENT FINANCING DISTRICT THEREIN AND THE ADOPTION OF THE MODIFICAITON TO THE TAX INCREMENT FINANCING PLAN THEREFOR COUNCIL ACTION: CITY OF ROSEMOUNT DAKOTA COUNTY, MINNESOTA RESOLUTION 2000 - A RESOLUTION CALLING FOR A PUBLIC HEARING BY THE CITY ON THE PROPOSED ADOPTION OF THE MODIFICATION TO THE DEVELOPMENT PROGRAM FOR DEVELOPMENT DISTRICT NO. 1, AND THE PROPOSED MODIFICATION OF THE INDUSTRIAL PARK TAX INCREMENT FINANCING DISTRICT THEREIN AND THE ADOPTION OF THE MODIFICATION TO THE TAX INCREMENT FINANCING PLAN THEREFOR BE IT RESOLVED by the City Council for the City of Rosemount, Dakota County, Minnesota, as follows: Section 1. Public Hearing This Council shall meet on Tuesday, May 1, 2000, at approximately 7:30 p.m. to hold a public hearing on the proposed adoption of the Modification to the Development Program for Development District No. 1, the proposed modification of the Industrial Park Tax Increment Financing District, (an economic district), and the proposed adoption of a Modification to the Tax Increment Financing Plan therefor, all pursuant to and accordance with Minnesota Statutes, Sections 469.001 through 469.047, inclusive, as amended, and Minnesota Statutes, Sections 469.174 through 469.179, inclusive, as amended, in an effort to encourage the development and redevelopment of certain designated areas within the City; and Section 2. Notice of Public Hearing, filing of Program and Plan City staff is authorized and directed to work with Ehlers and Associates, Inc. to prepare the Modification to the Development Program to the appropriate taxing jurisdictions including Dakota County and Independent School District No. 196. The City Clerk is authorized and directed to cause notice of the hearing, together with an appropriate map as required by law, to be published at least once in the official newspaper of the City not later than 10, nor more than 30, days prior to May 1, 2000, and to place a copy of the Modifications on file in the City Clerk's office at City Hall and to make such copy available for inspection by the public. ADOPTED this 21st of March, 2000 by the City Council of the City of Rosemount. ATTEST: Cathy Busho, Mayor Linda J. Jentink, City Clerk Motion by: Seconded by: Voted in favor: Voted against: Member (s) absent: