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RESOLUTION 96- <br /> <br /> A RESOLUTION OF THE CITY OF ELK RIVER <br /> <br />A RESOLUTION MODIFYING TAX INCREMENT FINANCING <br /> DISTRICTS NO. 2 AND NO. 3 <br /> <br />WHEREAS, The City has previously adopted Tax Increment Financing <br /> Districts No. 2 and No. 3 and various amendments thereto <br /> including modifications dated December 21, 1995; and <br /> <br />WHEREAS, The City intends to modify the activities to be financed by each <br /> district without increasing the captured net tax capacity to be <br /> retained or increasing the estimated tax increment expenditures <br /> therefore eliminating the need for a formal plan modification as <br /> required by Minnesota Statutes Section 469.175, Subd. 4. <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of <br />Elk River that the attached Tax Increment Financing Plan modifications for <br />Tax Increment Financing Districts No. 2 and No. 3 are hereby approved. <br /> <br />Passed and adopted by the City Council of the City of Elk River this 18th day <br />of November, 1996. <br /> <br />Henry A. Duitsman, Mayor <br /> <br />ATTEST: <br /> <br />Sandra Thackeray, City Clerk <br /> <br /> <br />