HomeMy WebLinkAboutCity Council Resolution 2023-119
C ITY OF P LYMOUTH
R ESOLUTION N O. 2023-119
R ESOLUTION A PPROVING THE D ECERTIFICATION OF
T AX I NCREMENT F INANCING D ISTRICT N O. 1-1
WHEREAS, on November 23, 2004, the City of Plymouth (the "city") and its Housing and
Redevelopment Authority created its Tax Increment Financing District No. 1 (the “district") within its
Redevelopment Project Area No. 1 (the "project"); and
WHEREAS, as of the date hereof all bonds and obligations to which tax increment from the district
have been pledged and have been paid in full or defeased and all other costs of the Project have been paid;
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 District will be distributed in the same manner as all other
property taxes.
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH,
MINNESOTA that city staff shall take such action as is necessary to cause the county auditor of Hennepin
County to decertify the district as a tax increment district and to no longer remit tax increment from the
district to the city.
APPROVED by the City Council on this 11th day of April, 2023.