99-126 - 12-21 - Approve Amendment Tax Increment Financing District Located Within Goldne Hills Redevelopment Area Resolution 99-126 December 21, 1999
Member Johnson introduced the following resolution and moved its adoption:
RESOLUTION APPROVING AMENDMENT OF TAX INCREMENT FINANCING
PLAN FOR THE GOLDEN HILLS TAX INCREMENT FINANCING DISTRICT
LOCATED WITHIN THE GOLDEN HILLS REDEVELOPMENT AREA
WHEREAS, the Housing and Redevelopment Authority in and for the City of Golden
Valley (the "HRA") has prepared an update to the existing tax increment financing plan
(herein, the "TIF Plan") for the Golden Hills Tax Increment Financing District (the "District")
entitled "1999 Administrative Amendment to the Tax Increment Financing Plan for the
Golden Hills TIF District" (herein, "1999 Amendment"), which updates certain activities to
be undertaken within the District and the budget for the District, and has submitted said
1999 Amendment to the City Council for review and approval; and
WHEREAS, pursuant to Minnesota Statutes, Section 469.175, subdivision 4, the
1999 Amendment may be approved and adopted by resolution of the City since the 1999
Amendment does not change the boundaries of the District or the related Project Area,
does not increase the permitted amount of bonded indebtedness, does not increase the
aggregate amount of tax increment expenditures, does not increase the portion of tax
increment to be retained by the Authority and does not designate additional property to be
acquired by the Authority.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
GOLDEN VALLEY, MINNESOTA, as follows:
1. The 1999 Amendment is hereby approved in the form on file with the City as of
this date.
2. The city staff are authorized and directed to take all action on behalf of the City,
subject to such approval of this Council as is required by law, to implement the 1999
Amendment.
3. The City Manager is hereby authorized and directed to file a copy of the 1999
Amendment with the Minnesota Commissioner of Revenue.
Z7alietizelez,/
Mary E. Vderson, Mayor
ATTEST:
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Shirley J. (-I'on, City Clerk
Resolution 99-126 - Continued December 21, 1999
The motion for the adoption of the foregoing resolution was seconded by Member Bakken
and upon a vote being taken thereon, the following voted in favor thereof: Anderson,
Bakken, Johnson, LeSuer, and Micks; and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted, signed by the Mayor
and her signature attested by the City Clerk.