HomeMy WebLinkAboutEDA RES 2004-12COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY
CITY OF COLUMBIA HEIGHTS
COUNTY OF ANOKA
STATE OF MINNESOTA
RESOLUTION NO. 2004-12
RESOLUTION APPROVING THE ELIMINATION OF PARCELS FROM THE TIF
4 MULTI USE REDEVELOPMENT PROJECT (MURP) K2 TAX INCREMENT
FINANCING DISTRICT WITHIN TI-W~ CENTRAL BUSINESS DISTRICT
REDEVELOPMENT PROJECT IN THE CITY OF COLUMBIA HEIGHTS.
WHEREAS, on September 28, 1989, the City of Columbia Heights City Council (the "City)
established TIF 4 Multi Use Redevelopment Project (MURP) K2 Tax Increment Financing District (the
"TIF District") within its Central Business District Redevelopment Project; and
WHEREAS, the Columbia Heights Economic Development Authority (the "EDA") is the
administrative authority for the TIF District; and
WHEREAS, the TW District, in part, included the following parcel numbers, which were
previously certified in the TIF District (the "Parcels"):
35-30-24-34-0013
35-30-24-34-0014
35-30-24-34-0040
35-30-24-43-0060
35-30-24-43-0047
35-30-24-34-0035
35-30-24-34-0039
35-30-24-34-0024
35-30-24-34-0041
35-30-24-34-0003
35-30-24-34-0004
35-30-24-34-0002
WHEREAS, the Parcels have been excluded from the original tax capacity of the TIF District
pursuant to Minnesota Statues, Section 469.176, Subd. 6 (the so-called "knock-down rule"); and
WHEREAS, the EDA desires by this resolution to cause the elimination of the Parcels from the
TIF District thereby reducing the size of the TIF District; and
WHEREAS, the City and EDA are authorized to modify the TEF District by eliminating one or
more parcels without the notice and hearing required for approval of an initial plan if they agree that,
notwithstanding Minnesota Statutes, Section 469.177, Subd. 1, the original net tax capacity of the TIF
District w/Il be reduced by no more than the current net tax capacity of the parcels eliminated from the
TIF District; and
WHEREAS, while the Parcels have been "knocked down," their current net tax capacity is less
than the original net tax capacity of those Parcels when originally certified.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE
EDA as follows:
1. The tax increment financing plan ("TIF Plan") for the TIF District is hereby modified to
remove the Parcels from the TIF District, effective for taxes payable in 2005.
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2. In accordance with Minnesota Statutes, Section 469.175, Subd. 4(e)(2)(B), the EDA
elects that the original net tax capacity of the TW District will be reduced by no more than the current net
capacity of the Parcels.
3. Upon approval of a similar resolution by the City, staff are authorized and directed to
attach a copy of this resolution to the TIF Plan for the TIF District in City files, file a copy of this
resolution with the County Auditor of Anoka County along with instructions to adjust the records for the
T[F District accordingly, and file a copy of the resolution with the Minnesota Commissioner of Revenue.
Approved by the Board of Commissioners of the Columbia Heights Economic Development
Authority this 25th day of October, 2004.
Pr[si~jzgn(- Don Mut~ Jr.[~
ATTEST:
Executive D~rector- Walter R. Fehst
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