Agenda - Council - 07/23/1985 - Laserfiche WebLink

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5. Upon adoption by the Council of the Tax Increment Financing Plan for a Tax Increment Financing District, the Administrator shall file a copy o! the Tax Increment Financ - lng Plan vith the Minnesota Energy and Economic Development Authority. Minnesota Statutes, $2?3.74, subd. 2. The plans should be addressed as follovs: Minnesota Department of Energy. and Economic Development Division of Community Development 9th Floor, American Center Building 150 East Kellogg Boulevard St. Paul, Minnesota 55101 Attention: Michael Auger 6. The Administrator · shall seek modifica~ion of a Tax Increment F~nancing Plan ~or a Tax Increment F~nancing Dis- trict by the process requzred for approval of the original Tax Increment Financing Plan i~ the City seeks to do any of the following: ia) reduce or enlarge the geographic area of Tax Increment Financing District (the geographic can be reduce~ but not enlarged after five (5) following certzfication to the original assessed o~ the Tax Increment Financing Dlstrict)~ the area ~ears value (b) increase the amount of bonded indebtedness to be incurred; assessed I (c) increase the portion oi captured value to be retained by the City; (d) increase the total estimated tax increment expenditUres; or (e) designate additional property to be acquired I by the City. %innesota Statutes $273.74, subd. 4. I 7. On or before July 1 of each year, the AdministratOr shall submit to the Anoka County Board, all affected school boards, and to the Minnesota Energy and Economic Development Authority a report of the status of each Tax Increment Fi- nancing District in Development District No. 1. The in- formation to be included in the report is given in the model form attached hereto as EXHIBIT 1' 8. An annual statement sho~ing the tax increment re- ceived and expended in that yea~, the o~lginal assessed A- 3