4.10.
CC Regular Session
- Meeting Date:
- 02/14/2012
- By:
- Aaron Backman, Administrative Services
Information
Title:
Adopt Resolution #12-02-XXX Decertifying Tax Increment Financing District No. 1
Background:
Tax Increment Financing (TIF) District No. 1 (also known as Rivers Bend District) is a redevelopment district created in 1985. At the regular December 13, 2011 meeting the Ramsey City Council approved modifications to increase the budget to reflect actual increment collected to date and restated the use of funds to bring it into conformance with Office of State Auditor (OSA) compliance. The term of TIF District 1 expired on December 31, 2011. Therefore, the City Council needs to adopt a resolution that formally certifies TIF District 1.
Recommendation:
Staff recommends Adopting the Resolution Decertifying Tax Increment Financing District No. 1.
Council Action:
Adopt Resolution Decertifying Tax Increment Financing District No. 1 and Returning Excess Tax Increments to Other Taxing Jurisdictions
Attachments
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Kurt Ulrich | Kurt Ulrich | 02/09/2012 02:50 PM |
- Form Started By:
- abackman
- Started On:
- 02/08/2012 08:03 AM
- Final Approval Date:
- 02/09/2012