2000-23.doc CITY OF CHANHASSEN
CARVER AND HENNEPIN COUNTIES, MINNESOTA
DATE: March 27, 2000 RESOLUTION NO: 2000-23
MOTION BY: Senn SECONDED BY: Labatt
A RESOLUTION ADOPTING FIRST MODIFICATION TO TAX INCREMENT
FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 3-1
Section 1. Recitals
1.01. The City approved the establishment of Tax Increment Financing District No. 3-1 (the
"TIF District") and adopted a Tax Increment Financing Plan related thereto (the "TIF Plan") on May
23, 1994. The TIF Plan authorized the expenditure of up to $2,660,000 in tax increment from the TIF
District for roadway improvements related to CSAH 101 and TH 5.
1.02 The City wishes to clarify the types of improvements which might be funded through
the use of tax increment related to the roadway improvements for CSAH 101 and TH 5 without
increasing or decreasing the total amount of authorized expenditures.
Section 2. Adoption of First Modification to TH)' Plan
2.01 The First Modification to the TIF Plan for TIF District No. 3-1, which is dated of even
date herewith, is hereby adopted. The First Modification contains a clarification of the types of
improvements which may be undertaken by the City through the expenditure of tax increment from
TIF District No. 3-1 as previously authorized in the original TIF Plan. Nothing in the First
Modification is intended to authorize expenditures for project costs or administrative expenses in
addition to those amounts previously authorized in the original TIF Plan.
2.02 Except with regard to the clarification of the budgeted amounts previously authorized,
the TIF Plan remains unchanged. Nothing in this First Modification is intended to enlarge the
geographic area of the TIF District, increase the amount of bonded indebtedness to be incurred,
increase the portion of the captioned tax increment to be retained by the City, increase the total
estimated tax increment expenditures or designate additional property to be acquired by the City in
connection with the project.
Passed and adopted by the Chanhassen City Council this 27th day of March, 2000.
ATTEST:
Scott A. Botcher, City Manager Nancy K. Mancino, Mayor
YES NO ABSENT
Mancino
Engel
Jansen
Labatt
Senn
None
None