HomeMy WebLinkAboutCity Council Resolution 2000-595CITY OF PLYMOUTH
RESOLUTION NO. 2000-595
RESOLUTION ESTABLISHING THE PLYMOUTH TAX INCREMENT
HOUSING ASSISTANCE PROGRAM (TIHAP)
WHEREAS, the Plymouth Housing and Redevelopment Authority has proposed -recommended
that the City Council (the "Council") for the City of Plymouth, Minnesota, approve the adoption
establishment of the Plymouth Tax Increment Housing Assistance Program, pursuant to Minnesota
Statutes, Sections 469.176, subd. 4k, and 469.1763, subd. 2, to authorize the use of tax increments
generated from tax increment financing districts located within the City of Plymouth toro�vide
assistance forwith affordable housing located any where within the City; and
WHEREAS, the City Council ablished-created Tax Increment Financing District No. 7-6
(CPG), adopted the Tax Increment Financing Plan therefor and-authorizinged the pooling of tax
increments torop vide assistance for -with affordable housing on October 25, 2000; and
WHEREAS, the City Council established Tax Increment Financing District No. 7-2 (Olympic
Steel) and approved the Tax Increment Financing Plan therefor on September 12, 1994 and on
DeeeniboFon December 19, 2000, will be considering an Amendment to the Tax Increment Financing
Plan to modify the budget to authorize the pooling of tax increments torop vide assistance for -with
affordable housing located elsewhere in the City. and
WHEREAS the Council wishes to establish a program for the efficient use of pooled tax
increments to provide assistance for affordable housing in the City in accordance with Minnesota
Statutes Sections 469.176, subd. 4k and 469 1763 subd 2
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA, as follows:
1. The Council hereby finds that it is necessary and desirable to encourage and support the construction,
rehabilitation, and preservation of low- and moderate -income housing within the City and to facilitate
public improvements related to such housing and.
2. The Council hereby apres establishes the Plymouth Tax Increment Housing Assistance
Program TIHAP)-attached hereto in order to provide such assistance for affordable tie -oyel e
housing within the City of Plymouth.
Adopted -this -4 9 -day-o-
Adopted by the Plymouth City Council on December 19 2000.
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