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CC Regular Session 7. 5. <br />Meeting Date: 01/08/2013 <br />By: Diana Lund, Finance <br />Information <br />Title: <br />Adopt Resolution #12-01-002 Decertifying Tax Increment Financing District #10 <br />Background: <br />Tax Increment Financing (TIF) District # 10 (also known as the Sunfish Lake District) was an economic <br />development district created in 2001. The term of TIF District #10 officially expired on December 31, 2012. <br />The City Council needs to formally adopt a resolution that decertifies the district and forward a copy to Anoka <br />County for their records. Part of the resolution states that "Excess Tax Increments will be returned to Other Taxing <br />Jurisdictions". The city will not be returning any funds to Anoka County for redistribution, as all funds were spent <br />according to the TIF #10 budget. <br />Recommendation: <br />Staff recommends Adopting the Resolution Decertifying Tax Increment Financing District #10. <br />Funding Source: <br />Not Applicable. <br />Council Action: <br />Adopt Resolution #13-01-002 Decertifying Tax Increment Financing District #10 and Returning Excess Increment <br />to Other Taxing Jurisdictions. <br />Attachments <br />Resolution #13-01-002 Resolution Decertifying TIF #10 <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich Kurt Ulrich 01/03/2013 03:35 PM <br />Form Started By: Diana Lund Started On: 12/31/2012 02:06 PM <br />Final Approval Date: 01/03/2013 <br />