DISCLAIMER

 

07-0066R


RESOLUTION APPROVING THE DECERTIFICATION OF PARCELS FROM TAX INCREMENT FINANCING DISTRICT NOS. 2 AND 19 WITHIN DEVELOPMENT DISTRICT NO. 17 OF THE CITY OF DULUTH.

BY COUNCILOR STAUBER:

     The city council of the city of Duluth (the city) hereby finds the following:

     (a)  The city created its tax increment financing district Nos. 2 and 19 (district Nos. 2 and 19) within its Development District No. 17 (the project);

     (b)  The city desires by this resolution to cause the decertification of parcel numbers 010-0410-00150 and 010-0410-00180 from Tax Increment Financing District No. 2 (TIF District No. 2), therefore reducing the size of TIF District No. 2;

     (c)  The city desires by this resolution to cause the decertification of parcel numbers 010-0410-00340, 010-0410-00350, 010-0410-00370, 010-0410-00380 and 010-0410-00390 from Tax Increment Financing District No. 19 (TIF District No. 19), therefore reducing the size of TIF District No. 19;

     (d)  Since the current net tax capacity of the parcels to be eliminated from TIF District No. 2 equals or exceeds the net tax capacity of the parcels in TIF District No. 2's original net tax capacity, the holding of a public hearing is not required pursuant to Minnesota Statutes, Section 469.175, Subd. 4;

     (e)  Since the current net tax capacity of the parcels to be eliminated from TIF District No. 19 equals or exceeds the net tax capacity of the parcels in TIF District No. 19's original net tax capacity, the holding of a public hearing is not required pursuant to Minnesota Statutes, Section 469.175, Subd. 4.

     NOW, THEREFORE, BE IT RESOLVED, by the city council of the city of Duluth that parcel numbers 010-0410-00150, 010-0410-00180, 010-0410-00340, 010-0410-00350, 010-0410-00370, 010-0410-00380 and 010-0410-00390 are hereby eliminated from district Nos. 2 and 19 and the city's staff shall take such action as is necessary to notify the county auditor of the reduction in the geographic area of district Nos. 2 and 19 caused by the elimination of such parcels.


STATEMENT OF PURPOSE:  The purpose of this resolution is to remove parcels from tax increment financing district Nos. 2 and 19 so that they may be included in Tax Increment Financing District No. 24, the Duluth renaissance project.