7.0. SR 01-27-1997 - Laserfiche WebLink

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RESOLUTION 97 -__ A RESOLUTION FOR THE CITY OF ELK RIVER, MINNESOTA A RESOLUTION FOR THE CITY OF ELK RIVER RELATING TO MODIFICATION OF THE DEVELOPMENT PROGRAM FOR DEVELOPMENT DISTRICT NO. 1 AND THE TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 16 BE IT RESOLVED by the City Council (the Council) of the City of Elk River, Minnesota (the City), as follows: Section 1. - Recitals. 1.01. It has been proposed and adopted by the Housing and Redevelopment Authority for the City of Elk River, Minnesota (the HRA) that the HRA establish Tax Increment Financing District No. 16 within Development District No. 1 pursuant to and in accordance with Minnesota Statutes. 1.02. The HRA has caused to be prepared, and the Council has investigated the facts with respect thereto, a proposed Tax Increment Financing Plan for Tax Increment Financing District No. 16 (the Plan). 1.03. The HRA and the City have performed all actions required by law to be performed prior to the establishment of Tax Increment Financing District No. 16 and the adoption of the Plan relating thereto. 1.04. The Council hereby determines that it is necessary and in the best interest of the City at this time to establish Tax Increment Financing District No. 16 and the adoption of the Plan relating thereto. Section 2. - Findings for the Establishment of Tax Increment Financing District No. 16. 2.01. The Council hereby finds, determines, and declares that the establishment of Tax Increment Financing District No. 16 located within Development District No. 1 is intended and, in the judgment of this Council, its effects will be, to provide an impetus for commercial development, increase employment, and otherwise promote certain public purposes and accomplish certain objectives as specified in the Plan for Tax Increment Financing District No. 16.