HomeMy WebLinkAboutResolution - 2018-08 - Decertificaiton of TIF 13 - 01/02/2018 CITY OF EDEN PRAIRIE
HENNEPIN COUNTY, MINNESOTA
RESOLUTION NO. 2018-08
BEING A RESOLUTION APPROVING THE DECERTIFICATION OF TAX
INCREMENT FINANCING DISTRICT NO. 13 OF THE CITY OF EDEN PRAIRIE
WHEREAS, on December 17, 1996, the City of Eden Prairie (the "City") created its Tax
Increment Financing District No. 13, (the "District") within its Redevelopment Project No. 5 (the
"Project"); and
WHEREAS, on December 31, 2017 the tax increment bonds to which tax increment from
the District have been paid in full; and
WHEREAS, all other costs of the Project have been paid; and
WHEREAS, there are no parcels located in the District which have delinquent taxes when
the District terminated under the duration limits; and
WHEREAS, the nonpayment of property taxes has not caused the outstanding bonds; and
WHEREAS, the City desires by this resolution to cause the decertification of the District
after which all property taxes generated by property within the Districts will be distributed in the
same manner as all other property taxes beginning January 1, 2018.
NOW THEREFORE,BE IT RESOLVED by the City Council of the City of Eden Prairie
that the City's staff shall take such action as is necessary to cause the County Auditor of Hennepin
County to decertify the Districts as tax increment districts and to no longer remit tax increment
from the Districts to the City.
ADOPTED by the Eden Prairie City Council this 2nd day of January, 2018.
anc a-L ens, NTayor
ATTEST:
Kat een Porta, City Clerk