2016-33CITY OF CHANHASSEN
CARVER AND HENNEPIN COUNTIES, MINNESOTA
DATE: April 25, 2016 RESOLUTION NO: 2016-33
MOTION BY: McDonald SECONDED BY: Tiornhom
RESOLUTION APPROVING THE DECERTIFICATION OF TAX INCREMENT
FINANCING DISTRICT NO.5 AND NO.9 OF THE CITY OF CHANHASSEN
WHEREAS, on June 24, 1996, the City of Chanhassen (the "City") created its Tax
Increment Financing District No. 5 ('District No.") North Bay ("District Name'); and
WHEREAS, on April 10, 2006, the City of Chanhassen (the "City") created its Tax
Increment Financing District No. 9 ("District No.") North Bay ("District Name'); and
WHEREAS, as of the date hereof, all bonds and obligations to which tax increment from
District No. 5 and No. 9 have been pledged have been paid in full or defeased and all other costs
of the Project have been paid; and
WHEREAS, the City desires by this resolution to cause the decertification of District No.
5 and District No.9 as of December 31, 2016, after which all property taxes generated by
property within the District will be distributed in the same manner as all other property taxes.
NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Chanhassen that
the City staff shall take such action as is necessary to cause the County Auditor of Carver County to
decertify District No. 5 and District No. 9, as a tax increment district and to no longer remit tax
increment to the City effective for taxes payable in 2017.
Passed and adopted by the Chanhassen City Council this 25th day of April, 2016.
ATTEST:
Todd Gerhardt, City Manager
YES NO
Laufenburger None
Campion
McDonald
Ryan
Tjornhom
Denny La burger, Nfayor
ABSENT
None