1f. Call for Public Hearing on the Modification of the Plan for Tax Increment Districti
CITY OF
CHANHASSEN
��
690 COULTER DRIVE • P.O. BOX 147 • CHANHASSEN, MINNESOTA 55317
(612) 937 -1900 * FAX (612) 937 -5739
TO: Don Ashworth, City Manager
FROM: Todd Gerhardt, Asst. City Manager t ''j� G/L
DATE: September 7, 1994
SUBS: Calling for Public Hearing on the Modification of TIF District No. 2 -1
Attached for the City Council's consideration is'ze
September 26, 1994 for the Modification of the.,-,", lan
2 -1 (McGlynn District). The amendment to the.
aggregate amount of $5,350,000 for the financing o
construction. Staff is proposing a bond salefir the I
and the second and final installment of financing for
which will be sought in the spring of 1995, ` This an
for the total expenses associated with the, community
The proposed fall and spring bondingo'osts are as fo
Fall, 1994
olution calling for a public hearing on
for Tax Increment Financing District No.
authorizes the sale of bonds in the
the Community Center and frontage road
oil of 1994 in the amount of $2,240,000
�e community center /frontage road
a ment will authorize the sale of bonds
center and frontage road.
$1
$2,240,000
Spring 1995
Frontage Road
Community Center
Estimated Total
Estimated Costs
$1,942,000
$ 1,118,000
$3,060,000
MEMORANDUM
i
Mr. Don Ashworth
September 7, 1994
Page 2
' RECOMMENDATION
Staff would recommend that the City Council approve the resolution calling for a public
hearing on September 26, 1994 for the Modification of the Plan for Tax Increment Financing
District No. 2 -1 and direct staff to prepare necessary amendments to the plan.
' ATTACHMENT
' 1. Resolution.
n
r
r
CITY OF CHANHASSEN
CARVER AND HENNEPIN COUNTIES, MINNESOTA
RESOLUTION
Resolution No.
Date '
Seconded by
Motion By
RESOLUTION CALLING FOR A PUBLIC HEARING ON THE '
MODIFICATION OF THE PLAN FOR TAX INCREMENT
FINANCING DISTRICT NO. 2-1 '
WHEREAS, on October 10, 1988, the City Council of the City of Chanhassen (the "City")
established Development District No. 2 pursuant to Minnesota S_, §§ 469.124 through
469.134 and created Tax Increment Financing District No. 2 -1 pursuant to Minnesota Statutes,
§§ 467.174 through 469.179; and
WHEREAS, on May 22, 1989, the City modified the program (the "Program ") for
Development District No. 2 and the plan (the "Plan ") for Tax Increment Financing District No.
2 -1 in connection with the expansion of the districts; and
WHEREAS, the City modified the Plan on October 22, 1990, March 9, 1992 and October
11, 1993; and
WHEREAS, the City wishes to modify the Plan again to authorize additional expenditures
for public improvements and the issuance of bonds for payment of said improvements.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Chanhassen,
Minnesota as follows:
1. Holmes & Graven, Chartered is hereby authorized and directed to prepare a
modified Plan for TIF District No. 2 -1.
RHE74850
CH130 -11
0
I
2. The city manager is hereby authorized and directed to submit the modified Plan
to I.S.D. No. 112 and to Carver County for comment.
3. The city manager is hereby authorized and directed to submit the modified Plan
to the Chanhassen planning commission for review and comment.
4. The city manager is authorized and directed to prepare a notice for publication in
the official newspaper setting a public hearing before the city council on the 26th
day of September, 1994, at 7:30 p.m. in the council chambers on the Plan and to
cause such notice be published in the newspaper at least ten (10) but not more
than thirty (30) days prior to the public hearing.
5. City staff and consultants are authorized and directed to take such other actions
as are reasonably necessary to bring the Plan before the city council at the public
hearing.
Passed this 26th day of September, 1994, by the City Council of the City of Chanhassen,
Minnesota.
Donald mie , Mayor
ATTEST:
Donald s wort , City Clerk/Manager
RHB74850
CH130 -11