Laserfiche WebLink
~ity of <br /> <br />ITEM 7. <br /> <br />MEMORANDUM <br /> <br />ver <br /> <br />FROM: <br /> <br />DATE: <br /> <br />Economic Development Authority <br /> <br />Pat Klaers, Executive Direct <br /> <br />April 8, 1996 <br /> <br />SUBJECT: Termination of TIF District No. 12 <br /> <br />Attached is a resolution that staff is recommending that the City Council <br />approve to terminate Tax Increment Financing (TIF) District No. 12. This <br />district was never certified to the county and no increments were ever <br />collected. However, the City Council, as recommended by the EDA did <br />approve a resolution which created TIF No. 12 for Neos, Inc. Therefore, <br />unless this District is officially terminated, the staff would have to report the <br />existence of No. 12 to the state in some fashion. As TIF District No. 14, or <br />Marketech, Inc., is on the same two lots in the McChesney Industrial Park as <br />was the proposal by Neos for TIF No. 12, it is recommended that we officially <br />terminate TIF No. 12 to eliminate any possible confusion. <br /> <br />Action Requested <br /> <br />It is suggested that the EDA recommend to the City Council approval of the <br />attached resolution which terminates TIF District No. 12. <br /> <br />s:\eda\meetings\termno 12.doc <br /> <br />13065 Orono Parkway · P.O. Box 490 · Elk River, MN 55330 · (612) 441-7420 · Fax: (612) 441-7425 <br /> <br /> <br />