HomeMy WebLinkAboutCity Council Resolution 1994-388ATO: Allm Nrrlhrt
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Resolution 9b. 94-388A
OIVIilO PR=LM=y APPROVAL TO A PROPOSAL. YOR TM USS OF TAX
rill.'�T 7I3NCINO AND AUMRIEINO TM PRNPARATION OF A TAX
INCR�IT
713 112 tq MAN AND PUBLICATIC11 OF PMBLIC LQARINO
NOTICES '190MMR.
NMRRM, the City of Plymouth (the "City) is authorised
under Kinnesota Statutes, sections 469.178 to 469.179 (the "Tax
Increment Act") to establish and create tax increment districts
in order to pay all or a portion of certain public redevelopment
costs; and
"URnm, the City has received a proposal from Olympic steel
(the "Developer`) that the City establish a tax increment
district in order to assist the Developer in the financing of an
additional manufacturing facility in the City by alleviating
certain unusual site conditions and providing necessary
transportation infrastructure; and
WEREAS, the City has determined that the purposes and
policies of the Tax Increment Act would be served by the
establishment and creation of a tax increment district to assist
the Developer's proposed project in the City:
NON, THFORt, BB IT RMLVED by the City Council of the
City of Plymouth, Minnesota thatz
1. The City hereby preliminarily approves the creation of
a tax increment district to assist the Developer's proposed
project, subject in all events to compliance with the notice and
public hearing requirements of the Tax Increment Act and to the
final approval by the City, in its discretion, of the teres and
conditions of the proposed tax increment district and of all
documents or agreements to be entered into between the City and
the Developer is connection therewith.
9. The City Manager and staff of the City, City Attorney
and financial advisor to the City are hereby authorized to
prepare a tax increment financing plan and all necessary
agreements for the establishment of a tax increment district for
the Developer's proposed project, and to give such notices to
other governmental bodies, establish dates for public meetings
and publish public hearing notices as are required under the Tax
Increment Act.
To AM wrlbwt Fent Maid R. Mm M =9 7-7-N lblm P. t of 1
9. ThLe Resolution shall be in full fora, and effect from
and after the date hereof.
Dated: July Ile 1994.
Attest:
City Clerk
CnT OF PLYMMMS MMOOM
by:
liyor
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