HomeMy WebLinkAboutCity Council Resolution 2000-409CITY OF PLYMOUTH, MINNESOTA
RESOLUTION 2000-409
AUTHORIZING THE PREPARATION OF A TAX INCREMENT FINANCING
PLAN AND CALLING OF A PUBLIC HEARING ON SAID PLAN
WHEREAS, the City of Plymouth (the "City") is authorized under Minnesota Statutes,
Sections 469.174 through 469.1791 (the "TIF Act") to establish and create tax increment
financing districts for the purposes set forth in the TIF Act; and
WHEREAS, Continental Property Group, Inc. (the "Developer") has requested that the
City consider the establishment of a redevelopment tax increment financing district (the "TIF
District") covering the property located generally at 2300 Berkshire in the City and the utilization
of tax increment revenues from the TIF District to assist the Developer in acquiring and
redeveloping the site; and
WHEREAS, the initial steps in said process would be to prepare a draft of the Tax
Increment Financing Plan (the "TIF Plan") for the TIF District, schedule the necessary public
hearing on the TIF Plan and provide the required notices to the County, School District and
public.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Plymouth, Minnesota that:
The City Manager and staff of the City are authorized to work with the Developer, the
City's financial consultants and the City's bond counsel to prepare a draft of the TIF Plan for
the TIF District, as well as any required plan or plan amendment for the corresponding
project area.
2. At such time as the City Manager and staff believe appropriate, the City Manager
and staff are authorized to establish a date for the public hearing required under
the TIF Act and to prepare and circulate the notices required to be given pursuant
to the TIF Act prior to the hearing.
The City Manager and staff of the City are further authorized to submit the TIF Plan and
related documents to the Planning Commission prior to the public hearing for a
determination that the TIF Plan is consistent with the City's comprehensive plan.
Resolution 2000-409
Page 2
4. Adoption of this preliminary resolution by the City shall not in any manner commit the City
to the ultimate establishment of the TIF District or the provision of any tax increment
assistance to the Developer.
5. This resolution shall be in full force and effect from and after the date hereof.
Adopted by the City Council on August 22, 2000
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 August 22, 2000 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