HomeMy WebLinkAboutEDA RES 2020-112003, the RESOLUTION NO. 2020 -11
COLUMBIA HEIGHTS ECOMOMIC DEVELOPMENT AUTHORITY
COUNTY OF ANOKA
STATE OF MINNESOTA
A RESOLUTION DECERTIFYING
TAX INCREMENT FINANCING DISTRICT KMART- CENTRAL AVE (COUNTY NO. T4)
OF THE CITY OF COLUMBIA HEIGHTS
WHEREAS, on September 22, 2003, the City (the "City ") and Economic Development Authority
(the "Authority") created its Tax Increment Financing District Kmart- Central Ave (County No.T4), (the
"District ") within its Central Business District Redevelopment Project (the "Project "); and
WHEREAS, Minnesota Statutes, Section 469.174 to 469.179 authorizes the Authority to decertify
a tax increment financing district on any date after all bonds and other obligations have been satisfied; and
WHEREAS, as of the decertification date all bonds to which tax increment from the District have
been pledged are paid in full; and
WHEREAS, the Authority desires by this resolution to decertify the District effective September 8,
2020, by which all taxing jurisdictions will benefit from an increased tax base effective for taxes payable in
2020; and
WHEREAS, the excess tax increment in the account for the District, if any, will be returned to the
County Auditor for redistribution to the regular taxing jurisdictions;
NOW THEREFORE, BE IT RESOLVED by the Board of Economic Development Authority of the
City of Columbia Heights that it acknowledges such action was taken by the County Auditor of Anoka
County to decertify the District as a tax increment district and to no longer remit tax increment from the
District to the City.
DATED: September 8, 2020
ATTEST:
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(Seal)
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