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HomeMy WebLinkAboutEDA RES 2007-03 COLUMBIA HEIGHTS ECOMOMIC DEVELOl'MENT AUTHORITY CITY OF COLUMBIA HEIGHTS COUNTY OF ANOKA STATE OF MINNESOTA RESOLUTION NO. 2007-03 RESOLUTION AI'PROVING THE ELIMINATION OF PARCELS FROM THE HOUSING REDEVELOPMENT TAX INCREMENT FINANCING DISTRICT NO. 1 LOCATED WITHIN THE CENTRAL BUSINESS DISTRICT REDEVELOPMENT PROJECT IN THE CITY OF COLUMBIA HEIGHTS. WHEREAS, on May 27, 1997, the City of Columbia Heights City Council (the "City) established the Housing Redevelopment Tax Increment Financing District No. I, County Identifier 1'3 and 1'4 (the "TIP District"), and on December 17,2001 added parcels to the District, County Idcntifier S7, within the Central Business District Redevelopment Projcct; and WHEREAS, the Columbia Heights Economic Development Authority (the "EDA") is the administrative authority for the TIF District; and WHEREAS, the TIF District, in part, inclnded the following parcel numbers, which were previously certified in the TlF District (thc "Parcels"): R35-30-24-31-0177 (new PIN from R35-30-24-31-0152) (P3) R36-30-24-11-0088 (1'4) I I WHEREAS, the EDA desires by this resolntion to cause the elimination of the Parcels from the TIP District thereby reducing the size of the TIP District; and WHEREAS, because the total currcnt net tax capacity of the parcels to be eliminated from the TIP District equals or excecds the TIF District's original net tax capacity of the pm'cels, the holding of a public hearing is not required pursuant to Minnesota Statutes, Section 469.175, Subd. 4. 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 hcreby modified to remove the Parcels from the TIF District, effective for taxes payable in 2007, if administratively possible, otherwise effective for taxcs payable in 2008. 2. Upon approval of the approval resolntion by the EDA, staff are authorized and directed to file a copy of this resolution with Anoka County along with instructions to adjust the records for the TIP District accordingly, and filc a copy of the rcsolntion with the Minnesota Commissioner of Revenue and Office of the State Auditor. Approved by the Board of Commissioners of thc Columbia Heights Economic Devclopment Anthority thi~ day of January, 2007. ~~i~f! ATTEST: ~~~ Cheryl akken-Secrctary