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1d Stipulation for TIF 2-1CTFYOF CHAN E 7700 Market Boulevard PO Box 147 Chanhassen. MN 55317 Administration Phone: 952.227.1100 Fax: 952.227.1110 Bulldlnll Inspections Phone: 952.227.1180 Fax: 952.227.1190 Englnesrinli Phone: 952227.1160 Fax:. 952.227.1170 Finance Phone: 952.227.1140 Fax: 952.227.1110 Pa~ & Resraatlon Phone: 952.227.1120 Fax:. 952.227.1110 Recreation Center 2310 Coulter Boulevard Phone: 952.227.1400 Fax: 952.227.1404 Plannlnll & Natural Resources Phone: 952.227.1130 Fax: 952.227.1110 Public Works 1591 Park Road Phone: 952.227.1300 Fax: 952.227.1310 Senior Center Phone: 952.227.1125 Fax: 952.227.1110 Web Site ,,v.,:w. ci.chan~sen.m n.us TO: Mayor & City Council FROM: Todd Gerh~, City Manager DATE: June 3, 2003 SUB J: Approve Stipulation of Selllement and Order for Judgment Regarding Tax Increment Financing District 2-1 Attached you will find a Stipulation of Settlement and Order for ~udgment in response to the State Auditor's Notice of Non-Compliance concerning Tax Increment Financing District No. 2-1. This settlement resolves the State Auditor's alleged violations and is a com?romise of the disputed claims that the City and EDA should not have ~c.~ved a TIF payment for this district in 1998. The settlement allows the city to keep the first half TIF payment and requires that we repay the county its share of the second half taxes, plus interest, totaling $144,553.87. Staff recommends approval of this settlement as a fair and reasonable compromise to the claims against the city/EDA. 1. Stipulation of Settlement and Order for Jodgment The City of Chanhaesen, A growing comrnur, it:,, v,,iin c'5.~r, ,a.,<es. q,..a!,?,, s:hools, a charming do;','ntown, thriving businesses, winding trails, and beautiful parks. A g~t plac~ to live. ,,,ark,. and play. STATE OF MINNESOTA DISTRICT COURT COUNTY OF CARVER FIRST JUDICIAL DISTRICT CASE TYPE: OTHRR CIVIL In the Matt~ of the County of Carver a Minnesota Political Subdivision, Plaintiff, The City of Chanhassen, et al., Court File No. STIPIKATION OF SE'ITL~ZMENT AND ORDER FOR ,HJDGMENT The County of Carver ("County"), the City of Chanhassen ('~ity") and the Chanhassen Economic Development Authority ("Authority") hereby stipulate and agree as follows: WI4HRF_.AS, pursuant to Minnesota Statutes Section 469.1771, subd. l(c), hhe Office of the State Auditor (the "OSA") issa~ a Pinal Notice of Noncomp~ dared March 21, 2000 regarding the Authority's Tax In~t l~ancing District 2-1 (the 'T)isttiet'); and ~, pursuant to Section 469.1771, subd. l(b) of the Act, the OSA notified the County Attorney of its findings of viohtions of the Tax Increment Fnumeing Act ("Act") regarding the District; and · WI-IRREAS, the County AtWmey initial~l this action under Section 469.1771, subd. l(b) of the Act; and. ~S, this settlement shall constitute a full and complete resolution of the OSA's alleged violations set forth above and asserted in ttiese proceedings under Section 469.1771, subcC l(b) of the Act. WHEREAS, it is undemood and agreed that this Settlement is a compromise of disputed claims, not to be construed as an admis~on of '.liability on the part of the City or the Authority, and the City and the Authority deny liability for the claims being asserted. NOW, THRREFORE, the parties agree as follows: 1. This settl~t resolves aU disputes arising out of the trmal Notice of Noncompliance from the OSA dated March 21, 2000 asserted in these proceedings concerning the Dislxict. 2. The City of Chanhassen shall pay to the Carver County Auditor within ten (10) days of the execution of this Stipulation and entry of Judgment the amount of $144,553.87, togeflu~ with inl~r~ in the,amount of g26,311.82 through March 14, 2003 and per diem inteaz~ ~ based upon the most recent average monthly one-year T-bill rate (1.27%) until d_a~e of payment. 3. The Carver County Auditor shall distribute the funds to Carver County to the exclusion of the City of Chanhassem · 4. Each party shall pay their own costs and disbursements inctm~ in these proceedings COUNTY OF CARVER Dated: ,2002. B~.. CITY OF ~ Dated: ,2002 By:. ECONOMIC DEVELOPM~.NT AUTHORITY IN AND FOR ~ CITY OF CHANHA~EN Dated: Based upon the above Stipulation~ IT IS Ia ~.~ ~.sY ORDERRD, 1. Thc City of Chantmssen shall pay to the Carver Cormty Auditor within ten (10) days of the execution of this Stipulation and entry of Judgment the amount of $144,553.87, together with interest in the amount of $26,311.82 through March 14, 2003 and per diem interest thereafter bssed upon the most recent average monthly one-year T-bill rate (1.27%) until da~ of payment. 2. The Carver County Auditor shall distribt~ the funds m Carver Cotmt~ to th~ exclusion of the City of Chan~sea. 3. E~h tmrty shall be n~xmsible for its own costs and disbursements incurred in these proceedings. BY THE COURT: 103643 3