HomeMy WebLinkAbout6.p. Downtown TIF District Modification CITY OF ROSEMOUNT
EXECUTIVE SUMMARY FOR ACTION
CITY COUNCIL MEETING DATE: August 3, 1999
AGENDA ITEM: Downtown TIF District Modification AGENDA SECTION:
Consent
PREPARED BY: Dan Rogness, Community Development Director AGEN��� ,� � _ �
ATTACHMENTS: Proposed Resolution APPROVED BY:
The Port Authority has been asked on this same day to initiate a process that would amend the Downtown TIF
District in order to increase the allowable expenditures for public improvements (enhancements) and property
acquisition. This amendment would increase the allowable expenditures from$400,000 to $800,000.
A public hearing is a requirement as noted in the proposed resolution.
RECOMMENDED ACTION: MOTION to Approve a Resolution Calling for a Public Hearing by the
City on the Adoption of the Proposed Modification to the Ta�c Increment Financing Plan for the Downtown
Tax Increment Financing District within Development District No. 1.
COUNCIL ACTION:
CITY OF ROSEMOUNT
DAKOTA COUNTY,MINNESOTA
RESOLUTION 1999-
RESOLUTION CALLING FOR A PUBLIC HEARING BY THE CITY ON
THE ADOPTION OF THE PROPOSED MODIFICATION TO THE TAX
INCREMENT FINANCING PLAN FOR THE DOWNTOWN TAX
INCREMENT FINANCING DISTRICT WITHIN DEVELOPMENT DISTRICT NO. 1
BE IT RESOLVED by the City Council (the"Council") for the City of Rosemount,Minnesota
(the"City"), as follows:
Section l. Public Hearine. This Council shall meet on Tuesday, September 7, 1999, at
approximately 7:30 p.m. to hold a public hearing on the proposed adoption of the Modification to
the Tax Increment Financing Plan for powntown Tax Increment Financing District No. 1
pursuant to and in accordance with Minnesota Statutes, Section 469.001 through 469.047,
inclusive, as amended, and Minnesota Statutes, Sections 469.049 through 469.068 and 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 Modifications. City staff is authorized and
directed to work with Ehlers and Associates, Inc. to prepare the Modification to the Ta�c
Increment Financing Plan(the"Modifications") and to forward documents 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 September 7, 1999, 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 3rd day of August, 1999,by the City Council of the City of Rosemount.
ATTEST: Cathy Busho,Mayor
Susan M. Walsh, City Clerk
Motion by: Seconded by:
Voted in favor:
Voted against:
Member absent: