Agenda - Council - 09/13/1988 - Laserfiche WebLink

Home

Couneilmember introduced the following Resolution, the reading of whieh was dispensed with by unanimous consent, and moved as adoption: CITY OF COUNTY OF STATE OF MINNESOTA RESOLUTION NO. RESOLUTION TRANSFERRING CONTROL, AUTHORITY AND OPERATION OF HOUSING AND REDEVELOPMENT PROJECT NO. -- AND TAX INCREMENT FINANCING DISTRICTS NOS. THROUGH FROM CITY OF TO THE ECONOMIC DEVELOPMENT AUTHORITY IN AND FOR THE CITY OF WHEREAS, the City of , Minnesota (the "City") has control, authority and operation of Housing and Redevelopment Project No. __ which was established under the authority of Minnesota Statutes., Sections 469.001 to 469.047 (the "Project"); and WHEREAS, the City has control, authority and operation of Tax Increment Financing Districts Nos. through __ within the Project which was established under the authority of Minnesota Statutes, Sections 469.174 to 469.179 ("Tax Increment Financing Districts"); and WHEREAS, the City has adopted an enabling Resolution establishing an' Economic Development Authority (the "EDA") under the authority of Minnesota Statutes, Sections 469.090 to 469.108 in Resolution No. dated , 19 ; and WHEREAS, Minnesota Statutes, Section 469.094, subd. 2 authorizes the City, by Resolution, to transfer the control, authority and operation of the Project and the Tax Increment Financing Districts to the EDA. NOW, THEREFORE, be it resolved by the City Council of the City as follows: The City hereby transfers to the EDA the control, authority and responsibility of operation for the Project and the Tax Increment Financing Districts. Pursuant to Minnesota Statutes, Section 469.094, subd. 2, the EDA may exercise all of the powers that the City would have with respect to the Project and the Tax Increment Financing Districts. The motion for the adoption of the foregoing Resolution was duly seconded by Councilmember , and upon vote being taken thereon, the following voted in favor thereof;