HomeMy WebLinkAboutResolution - 2003-127 - Terminating TIF District No. 11 - Elim Shores Project 1759 - 08/18/2003 CITY OF EDEN PRAIRIE
HENNEPIN COUNTY,IVIINNESOTA
RESOLUTION NO. 2003-127
RESOLUTION TERMINATING TAX INCREMENT FINANCING DISTRICT NO. 11
(PROJECT 1759)AND DIRECTING DECERTIFICATION
THEREOF BY THE COUNTY AUDITOR
WHEREAS,by adoption of a resolution on April 4, 1989,the City Council of the City of
Eden Prairie, Minnesota has heretofore created Tax Increment Financing District No. 11 (Project
1759) (the"District") and has approved a Tax Increment Financing Plan(the"TIF Plan") for the
District to provide a housing facility and related common recreation and support facilities for
rental to elderly persons of low and moderate income; and
WHEREAS, the County Auditor of Hennepin County has certified the original net tax
capacity and the original tax rate of the District pursuant to the provisions of Minnesota Statutes,
Section 469.177; and
WHEREAS, as of the date hereof, all obligations to which tax increment from the
District has been pledged have been paid in full or defeased and the City had determined that it is
in the best interests of the City to terminate and decertify the District.
NOW, THEREFORE BE IT RESOLVED by the City Council of the City of Eden
Prairie,Minnesota that(i) the District is hereby terminated effective December 31, 2002 and(ii)
the Finance Director shall provide a certified copy of this resolution to the County Auditor so
that the District may be decertified on the books and records of the County Auditor with no
further tax increment from the District being remitted to the City.
ADOPTED by the City Council of the City of Eden Prairie on this 19th day of August,
2003.
anc a- cen or
ATTEST:
C�
Ka hleen Porta, City Clerk