HomeMy WebLinkAboutResolution - 2011-51 - Rescinding Resolution 2008-71 TIF District 15 Summit Place - 06/14/2011 CITY OF EDEN PRAIRIE
HENNEPIN COUNTY, MINNESOTA
RESOLUTION NO. 2011-51
A RESOLUTION RESCINDING RESOLUTION 2008-71 WHICH GRANTED
APPROVAL OF THE AMENDMENT TO THE TAX INCREMENT FINANCING PLAN
FOR TAX INCREMENT FINANCING DISTRICT NO. 15
BE IT RESOLVED by the City Council of the City of Eden Prairie, Minnesota (the
"City"), as follows:
Section 1. Recitals.
1.01. On December 17, 1996, the City, pursuant to Minnesota Statutes section 469.001
to 469.047, as amended, approved a redevelopment plan, as defined in Minnesota Statutes
Section 469.002, subdivision 16, designated as the Project Plan (the "Project Plan") for
redevelopment Project No. 5 (the "Project Area") and a redevelopment project to be undertaken
pursuant thereto, as defined in Minnesota Statutes Section 469.002, Subdivision 14 (the
"Redevelopment Project").
1.02. Pursuant to the Minnesota Tax Increment Financing Act, Minnesota Statutes
Sections 469.174 to 469.179, as amended (the "Act"), this Council approved establishment of
Tax Increment Financing District No. 15 (the "District") and approved a Tax Increment
Financing Plan therefor(the"Original TIF Plan") on July 20, 1999.
1.03. Pursuant to the Act, the City on July 15, 2008, following approval by the Housing
and Redevelopment Authority in and for the City of Eden Prairie, Minnesota (the "Authority")
adopted Resolution 2008-71 which approved the Amendment to Tax Increment Financing Plan
for Tax Increment Financing ("Qualified Housing"), District No. 15 (Eden Shores Senior
Housing Campus, Phase II Expansion) (the"Amended TIF Plan").
1.04. The Developer determined not to execute an amendment to the Project
Management Agreement which incorporated the terms of the Amendment to the Tax Increment
Financing Plan and accordingly the City did not file the Amended TIF Plan with the
Commissioner of the Minnesota Department of Revenue and the Office of the State Auditor
pursuant to Minnesota Statutes section 469.175, Subd. 4a.
1.05. Pursuant to Act, the Council has before it for consideration and approval a
Modification of the Original TIF Plan, which Modification has been adopted by the Authority.
1.06. The City Council has been advised that it is appropriate to rescind Resolution No
2008 -71 which approved, ratified, established, and adopted the Amended TIF Plan.
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Eden Prairie,
Minnesota, that Resolution 2008-71 is hereby rescinded.
ADOPTED by the Eden Prairie City Council an this 10 day of June, 2011.
c a- ei yor
ATTEST:
thleen Porta, City Clerk
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