HomeMy WebLinkAboutCity Council Resolution 1998-157CITY OF PLYMOUTH
Resolution 98-157
AUTHORIZING THE CITY MANAGER TO WORK WITH THE CITY'S STATE
LEGISLATORS TO SPONSOR LEGISLATION THAT WOULD EXEMPT TIF
ASSISTANCE TO THE VILLAGE AT BASSETT CREEK DEVELOPMENT FROM TIF
PENALTIES.
WHEREAS, on September 3, 1997, the City Council of the City of Plymouth Minnesota adopted
Resolution No. 97-520, Establishing Tax Increment Financing Housing District No. 7-5 to provide
financial assistance for the proposed Village At Bassett Creek development; and
WHEREAS, the proposed Village At Bassett Creek will promote the development of affordable
housing within the City in accordance with the Livable Communities Act (1995 Minnesota Laws
Chapter 255) and in excess of the City's housing goals adopted pursuant to said Act; and
WHEREAS, the provisions of Minnesota Statutes 273.1399 establishes a financial penalty that acts
to discourage the City from utilizing tax increment financing to provide the assistance necessary to
make possible the development of significant amounts of affordable housing;
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Plymouth, Minnesota
that the City Manager is hereby authorized to work with the city's state legislators to sponsor
legislation that would exempt TIF assistance provided to the Village At Bassett Creek development
from the penalty provisions of Minnesota Statutes 273.1399.
Adopted by the City Council on March 4, 1998.