1 Cancel Hearing TIF ExpansionCITYOF
90 G~, Center Drive, PO Box i47
Cha;d;assen, 3(i~mesota 55317
Phoebe 612.93Z I900
Gene~td 3kx' 612.937. 5739
E~gi~eering Fax 6129379152
oubhc Sari,0, ~.~c ~12.934(2524
I~'b ~vu,~t~ cl. chm~hasse~. ,~. us
MEMORANDUM
TO:
FROM:
DATE:
SUBJECT:
Mayor
City Council
Bruce M. DeJong, Finance Directo~/kff/,J
December 20, 2000
Cancellation of Public Hearing for Expansion of the Project Area
of TIF District 1
1 have had several discussions with Ron Batty regarding incorporating the TIF
District 2-1 debt into the TIF District 1 since our hastily called special meeting.
His research, and that of the MN Department of Revenue in consultation with the
Office of State Auditor, show that we could expand the project area, but that
would not make the existing bonds debt of TIF District 1. It xvould only allow us
to expend money on new projects.
Since xve have neither money to be spent in TIF District I nor projects authorized
by the current plan, the expansion of the district will accomplish nothing.
Therefore, the city manager has authorized me to cancel the public hearing that
was scheduled for December 27.
'he City qf Chanhassen. A y~rowin~ communit3, with clem~ lakes, qua/it~, schooh, a cham~i~e dou,mou,~, thrivin~ businesses, and beautiful ~arks. A ereat p/ace to live, work, and vial.