Laserfiche WebLink
<br />- <br /> <br />RESOLUTION 95-2L- <br />CITY COUNCIL <br />CITY OF ELK RIVER <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ELK RIVER <br />TERMINATING TAX INCREMENT FINANCING DISTRICT NO.2 <br /> <br />The City Council of the City of Elk River (the City), acting pursuant to its authority <br />under the Minnesota Tax Increment Financing Act (Minn. Stat. 469.174 to 469- <br />179), hereby finds, determines and resolves as follows: <br /> <br />WHEREAS, <br /> <br />the City created Tax Increment Financing District No.2 (TIF <br />No.2) in July 1985; and, <br /> <br />WHEREAS, <br /> <br />the purposes of TIF No.2 included financing the necessary <br />public improvements to make possible the development of a 36- <br />unit apartment complex for moderate income elderly persons; <br />and, <br /> <br />TIF No.2 has generated sufficient tax increment to meet the <br />purposes set forth in the TIF Plan fOl' TIF No.2; <br /> <br />e NOW, THEREFORE, BE IT RESOLVED by the City Council ofthe.City of Elk <br />River as follows: <br /> <br />WHEREAS, <br /> <br />1. That Tax Increment Financing District No.2 shall be <br />terminated effective December 31, 1995. <br /> <br />2. That the City Council of the City of Elk River hereby <br />directs staff to proceed to take those steps necessary to <br />terminate TIF No.2. <br /> <br />This Resolution adopted this 21st day of December, 1995. <br /> <br />ATTEST: <br /> <br /> <br /> <br />Sandra A. Thackeray, City Clerk <br /> <br />- <br /> <br />s:cocument/resoluti/tifno2 <br />