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<br />ADOPT RESOLUTION DECERTIFYING TAX INCREMENT <br />FINANCING DISTRICT NO.6 <br /> <br />By: Sean M. Sullivan, Economic Development Coordinator <br /> <br />Background: <br /> <br />CASE # ~ <br /> <br />Tax Increment Financing District No.6 was created on August 8, 1995. This district was created to <br />facilitate and assist the redevelopment of the former Gateway Airport site into ABC Energy Park. <br />The funds from this district were used to pay for infrastructure costs and land cost write-downs for <br />development of this industrial park. All of the financial obligations from this district are satisfied <br />and the statutory duration of this district has been reached. <br /> <br />This industrial park includes the following businesses: Connexus Energy, In'tech,Sharp and <br />Associates (multi-tenant), Vision-Ease Lens, Building Fasteners, Anderson-Dahlen, and Class C <br />Components. This park contains approximately 639,000 S.F. of commercial/industrial space with a <br />taxable value of $27,456,900. A resolution has been drafted to officially decertify this district as <br />required by the Minnesota State Auditor. <br /> <br />Recommendation: <br /> <br />Staff recommends adoption of the proposed Resolution. <br /> <br />Council Action: <br /> <br />Motion to adopt Resolution No. 07-07 _ which is an ordinance decertifying Tax Increment <br />Financing District No.6. <br /> <br />Review Checklist: <br /> <br />Community Development Director <br /> <br />CC:07.24.07 <br /> <br />-203- <br />