HomeMy WebLinkAboutCity Council Resolution 1993-667•
CITY OF PLYMOUTH
RESOLUTION NO. 93- 667
PRELIMINARILY APPROVING THE REVISED APPLICATION OF AMERIDATA
FOR TAX INCREMENT FINANCING
WHEREAS, on August 2, 1993 the City Council of the City of Plymouth adopted
Resolution No. 93-449, preliminarily approving the application of Ameridata for tax
increment financing in an existing district; and
WHEREAS, the approval was for a 50-50 sharing of increments between the applicant
and the City; and
WHEREAS, a further evaluation has shown that the amount of increment to be
generated by the proposed proles is expected to be much less than originally
anticipated when preliminary approval was given; and
WHEREAS, the applicant has revised its application to request that they be provided
assistance equal to the first $75,000 of increment plus 50 percent of any amount over
that, or about $84,075 in total; and
WHEREAS, the revised request is approximately equal to the amount initially
approved;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF PLYMOUTH, MINNESOTA, that the revised application of Ameridata for tax
increment financing assistant be preliminarily approved, and that staff be directed to
eater into negotiations for a formal agreement to be presented to the City Council for
final approval.
Adopted by the City Council on October 18, 1993.
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