2004-63B
CITY OF CHANHASSEN
CARVER AND HENNEPIN COUNTIES, MINNESOTA
.
DATE:
SevteDlber13.2004
RESOLUTION NO:
2004-63B
MOTION BY: A votte
SECONDED BY:
LundQuist
RESOLUTION APPROVING DECERTIFICATION
OF THE DOWNTOWN TIF DISTRICT
A. WHEREAS, on December 19, 1977, the City of Chanhassen (the "City")
created its Tax Increment Financing District No.1, (the "District") within its
Development District No.1 (the "Project"); 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
2005, and;
e
D. WHEREAS, as of December 31,2004 all bonds 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 2004 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 Downtown District
No. 1 (County District No. 25) as a tax increment district and to no longer remit tax increment
from the District to the City as of December 31, 2004.
d and adopted this 13th day of September, 2004.
Thomas A. Furlong, Mayor
YES
NO
ABSENT
e
Furlong
, Ayotte
Peterson
Lundquist
None
Labatt