16-36 - 06-07 - TIF Liberty Crossing Resolution 16-36 June 7, 2016
Member Snope introduced the following resolution and moved its adoption:
RESOLUTION APPROVING AN ADMINISTRATIVE AMENDMENT TO THE TAX
INCREMENT FINANCING PLAN FOR THE TAX INCREMENT FINANCING
(REDEVELOPMENT) DISTRICT WITHIN WINNETKA & MEDICINE LAKE ROAD
REDEVELOPMENT PROJECT AREA
LIBERTY CROSSING PROJECT
WHEREAS, the City of Golden Valley, Minnesota (the "City") has heretofore
established a Tax Increment Financing (Redevelopment) District (the "TIF District") within
the Winnetka & Medicine Lake Road Redevelopment Project Area and adopted a Tax
Increment Financing Plan therefor; and there is a proposal to amend the Tax Increment
Financing Plan for the Tax Increment Financing (Redevelopment) District (the "Tax
Increment Financing Plan") under the provisions of Minnesota Statutes, Sections 469.174
to 469.1799 and Sections 469.124 to 469.134 (the "Act"); and
WHEREAS, the Tax Increment Financing Plan as approved by the City Council on
September 1, 2015, indicated in Section F the City elected to delay receipt of first
increment until 2017.
WHEREAS, the TIF Plan intended to indicate the City elected to delay receipt of the
first increment until 2018, and the City has prepared an Administrative Amendment to the
Tax Increment Financing Plan for the TIF District, to identify 2018 as the year of first
receipt in Section F;
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Golden
Valley, as follows:
1. The City finds, determines and declares that with respect to the Administrative
Amendment:
a) The City is not modifying the boundaries of the TIF District nor increasing the
budget in the Tax Increment Financing Plan therefor, but is, however, making
an administrative amendment thereto.
b) The City reaffirms the findings previously made with respect to the TIF
District.
c) The Administrative Amendment conforms to the general plan of the
development of the City as a whole.
d) The Act does not require a public hearing on the Administrative Amendment.
2. The Administrative Amendment is hereby approved.
Resolution No. 16-36 -2- June 7, 2016
3. The City Manager is authorized and directed to file a copy of the Administrative
Amendment with the Commissioner of Revenue, the Office of the State Auditor and the
Hennepin County Auditor.
Larry Fon a t, Mayor Pro-Tem
ATTEST:
ristine A. Luedke, City Clerk
The motion for the adoption of the foregoing resolution was seconded by Member Clausen
and upon a vote being taken thereon, the following voted in favor thereof: Clausen, Snope
and Fonnest and the following voted against the same: none
whereupon said resolution was declared duly passed and adopted, signed by the Mayor
and his signature attested by the City Clerk.