7.5.
CC Regular Session
- Meeting Date:
- 01/08/2013
- By:
- Diana Lund, Finance
Information
Title:
Adopt Resolution #12-01-002 Decertifying Tax Increment Financing District #10
Background:
Tax Increment Financing (TIF) District # 10 (also known as the Sunfish Lake District) was an economic development district created in 2001. The term of TIF District #10 officially expired on December 31, 2012.
The City Council needs to formally adopt a resolution that decertifies the district and forward a copy to Anoka County for their records. Part of the resolution states that "Excess Tax Increments will be returned to Other Taxing Jurisdictions". The city will not be returning any funds to Anoka County for redistribution, as all funds were spent according to the TIF #10 budget.
The City Council needs to formally adopt a resolution that decertifies the district and forward a copy to Anoka County for their records. Part of the resolution states that "Excess Tax Increments will be returned to Other Taxing Jurisdictions". The city will not be returning any funds to Anoka County for redistribution, as all funds were spent according to the TIF #10 budget.
Recommendation:
Staff recommends Adopting the Resolution Decertifying Tax Increment Financing District #10.
Funding Source:
Not Applicable.
Council Action:
Adopt Resolution #13-01-002 Decertifying Tax Increment Financing District #10 and Returning Excess Increment to Other Taxing Jurisdictions.
Attachments
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Kurt Ulrich | Kurt Ulrich | 01/03/2013 03:35 PM |
- Form Started By:
- Diana Lund
- Started On:
- 12/31/2012 02:06 PM
- Final Approval Date:
- 01/03/2013