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CITY OF ARDEN HILLS
RAMSEY COUNTY
STATE OF MINNESOTA
RESOLUTION NO. 99-11
A RESOLUTION ACKNOWLEDGING THE EXPIRATION OF
TAX INCREMENT FINANCING DISTRICT NO.1
OF THE CITY OF ARDEN HILLS
WHEREAS, on June 26, 1989, the City of Arden Hills, (the "City") approved its Tax Increment
Financing District No. I, (the "District") within its Development District No. I, (the "Project");
and
WHEREAS, the Tax Increment Financing Plan for Tax Increment Financing District No. I
requires, pursuant to M.S. 469.176, Subd. I, that the duration of the Tax Increment Financing
District No.1 will be eight (8) years after the date of receipt by the City of the first tax increment
or ten (10) years from approval of the tax increment financing plan, whichever is less; and
WHEREAS, the receipt of the first tax increment was approximately June of 1993; and
WHEREAS, June 26, 1999 will be ten (10) years from the approval of the tax increment
. financing plan, which is the lesser of the duration limits; and
WHEREAS, the City desires, by this resolution, to acknowledge the decertification of the
District due to its expiration, after which all property taxes generated by property within the
District have been and will continue to be distributed in the same manner as all other property
taxes beginning with the second half of taxes payable in 1999; and
WHEREAS, the remaining tax increment in the account for the District is budgeted to be
expended on current and future tax increment eligible costs in Development District No. I and/or
to be transferred to other Tax Increment Financing Districts.
NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Arden Hills,
Minnesota that it acknowledges such action was taken by the County Auditor of Ramsey County
to decertifY the District as a tax increment district and to no longer remit tax increment from the
District to the City.
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ATT~r
BRIAN FRITSINGER, CITY ADMINISTRATOR
F ARDEN HILLS
PASSED AND ADOPTED BY THE CITY COUNCIL OF
THIS 8th DAY OF MARCH, 1999.
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