1g Resolution Decertifying Gateway TIF District 6
CITY OF
CHANHASSEN
7700 Market Boulevard
PO Box 147
Chanhassen, MN 55317
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-!J-
MEMORANDUM
TO:
Todd Gerhardt, City Manager
FROM:
Justin Miller, Assistant City Manager--:-..#' ~,p
j O~
August 24, 2005
DATE:
RE:
De-Certification of the Gateway TIP District #6
BACKGROUND
The City of Chanhassen has established Tax Increment Districts to assist in the
economic development of the City. One of these districts, the Gateway District
#6 has reached a point where it needs to be decertified and placed on the general
tax rolls.
Gatewav TIP District #6 (Countv District #24)
This district was originally created on May 27, 1997. Several officelindustrial
buildings have been built in this district, along with other uses such as Lifetime
Fitness and Holiday Inn Express. All obligations for this district will have been
met by the end of 2005, so decertification of this district is now recommended.
Minnesota state statute requires cities to notify the State and Carver County of the
City's desire to decertify TIP districts. While staff is recommending that the
district actually be decertified effective December 31, 2005, giving Carver County
this advance notice will allow them to produce more accurate Truth- In-Taxation
notices that will go out this fall.
RECOMMENDA TION
Staff recommends the City Council approve the attached resolution decertifying
the Gateway TIP District #6 effective December 31,2005. A simple majority of
the council is required for approval of this action.
The City of Chanhassen · A growing community with clean lakes, quality schools, a charming downtown, thriving businesses, winding trails, and beautiful parks A great place to live, work, and play.
CITY OF CHANHASSEN
CARVER AND HENNEPIN COUNTIES, MINNESOTA
DATE:
September 12. 2005
RESOLUTION NO:
2005-
MOTION BY:
SECONDED BY:
RESOLUTION APPROVING DECERTIFICATION
OF THE GA TEW A Y TIF DISTRICT
A. WHEREAS, on May 27, 1997, the City of Chanhassen (the "City") created its
Tax Increment Financing District No.6, (the "District"); and;
B. WHEREAS, Minnesota Statutes, Section 469.174 to 469.179 requires that the
Tax Increment Financing District be terminated when all obligations within
the district have been met;
C. WHEREAS, the City desires by this resolution to acknowledge the
decertification of the District, after which all property taxes generated by
property within the District have been and will continue to be distributed in
the same manner as all other property taxes beginning with taxes payable in
2006, and;
D. WHEREAS, as of December 31,2005 all obligations to which tax increment
from the District have been pledged have been paid in full; and;
E. WHEREAS, the remaining tax increment in the account for the District will
be returned after the books for 2005 are closed to the County Auditor for
redistribution to the regular taxing jurisdictions;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Chanhassen, Minnesota, as follows:
That the Carver County Auditor is authorized and requested to decertify the Gateway TIP
District No.6 (County District No. 24) as a tax increment district and to no longer remit tax
increment from the District to the City as of December 31, 2005.
Passed and adopted this Ith day of September, 2005.
ATTEST:
Todd Gerhardt, City Manager
Thomas A. Furlong, Mayor
YES
NO
ABSENT