HomeMy WebLinkAboutCity Council Resolution 2019-180
C ITY OF P LYMOUTH
R ESOLUTION N O. 2019-180
RESOLUTION APPROVING AN ADMINISTRATIVE AMENDMENT TO THE TAX
INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT
NO. 7-4
WHEREAS, the City of Plymouth, Minnesota (the "City") has heretofore established Tax Increment Financing
District No. 7-4 (the "TIF District"), within Development District No. 7 and has adopted a Tax Increment Financing Plan
for the TIF District (the "TIF Plan"); and the City proposes to administratively amend the TIF Plan for the TIF District
under the provisions of Minnesota Statutes, Sections 469.174 to 469.1794, as amended, and Sections 469.124 to
469.133, as amended (the "Act"); and
WHEREAS, an administrative amendment to the TIF Plan for the TIF District has been prepared to reallocate line
items in the budget in order to increase the amount of administrative costs to be spent from tax increments derived
from the TIF District to a maximum of $691,000 (the "Administrative Amendment"). The Administrative Amendment
does not increase the overall size of the of the budget. The Administrative Amendment makes no other modification to
the TIF Plan.
NOW, THEREFORE, BE IT HEREBY RESOLVED by the City Council of the City of Plymouth, as follows:
(1) The City finds, determines and declares that with respect to the Administrative Amendment:
(a) The City is not modifying the boundaries of the TIF District nor increasing the budget in the TIF
Plan therefor, but is, however, making an administrative amendment to the TIF Plan for the TIF
District.
(b) The City reaffirms the findings previously made with respect to the TIF District.
(c) The Administrative Amendment conforms to the general plan of the development of the City as
a whole.
(d) The Act does not require a public hearing on the Administrative Amendment.
(2) The Administrative Amendment is hereby approved.
(3) The City Manager is authorized and directed to file a copy of the Administrative Amendment with the
Commissioner of Revenue and the Office of the State Auditor.
The motion for the adoption of the foregoing resolution was made by Councilmember Prom and duly seconded by
councilmember McGregor and upon vote being taken thereon, the following voted in favor thereof, all members voted
in favor.
APPROVED by the City Council on this 25th day of June, 2019.
STATE OF MINNESOTA)
COUNTY OF HENNEPIN) SS.
The undersigned, being the duly qualified and appointed City Clerk of the City of Plymouth, Minnesota, certifies that I
compared the foregoing resolution adopted at a meeting of the Plymouth City Council on June 25, 2019 with the original
thereof on file in my office, and the same is a correct transcription thereof.
WITNESS my hand officially as such City Clerk and the Corporate seal of the City this ___________day of
__________________, __________.
____________________________________
City Clerk