Laserfiche WebLink
()- <br />TAXINCREMENTFINANCINGHOUSINGDISTRICTNO.18 <br />– <br />ARTICLEIINTRODUCTIONANDDEFINITIONS <br />SECTION1.01INTRODUCTION <br />involvestheconstructionofanapproximate53unitapartmentbuildingwithasmallretail <br />component,withsurfaceparkingspacesplusdetachedgaragebays.Theproposedsiteforthe <br />buildingisonvacantlandownedbytheCitylocatedatCentervilleRoadbetweenSorelStreet <br />andHeritageStreet. <br />ProgramforDevelopmentDistrictNo.1throughtheestablishmentanduseofTaxIncrement <br />FinancingDistrictNo.1-8withintheDevelopmentDistrict.TheproposedTaxIncrement <br />FinancingPlanfortheDistrictwillauthorizetheuseoftaxincrementstopayforcertaineligible <br />projectcosts. <br />SECTION1.02DEFINITIONS <br />Forthepurposesofthisdocument,thetermsbelowhavethemeaningsgiveninthissection, <br />1.“City”meanstheCityofCenterville,Minnesota. <br />2.“CityCouncil”meanstheCityCounciloftheCity. <br />3.“County”meansAnokaCounty,Minnesota. <br />4.“Developer”meansapartyundertakingconstructionwithintheTIFDistrict. <br />5.“DevelopmentDistrict”meansDevelopmentDistrictNo.1intheCity,createdand <br />6.“DevelopmentDistrictAct”meansMinnesotaStatutes,Sections469.124through469.133,as <br />amendedandsupplementedfromtimetotime. <br />7.“DevelopmentProgram”meanstheDevelopmentProgramfortheDevelopmentDistrict,as <br />amendedandsupplementedfromtimetotime. <br />8.“Project”meansconstructionoftheapproximate53unitapartmentbuildingbythe <br />Developer. <br />9.“ProjectArea”meansthegeographicareaoftheDevelopmentDistrict. <br />10.“ProjectCosts”meansthecostofthedevelopmentactivitiesthatwillorareexpectedto <br />occurwithintheProjectAreaorTIFDistrict. <br />11.“SchoolDistrict”meansCentennialSchoolDistrict(IndependentSchoolDistrictNo.12). <br />12.“State”meanstheStateofMinnesota. <br />13.“TIFAct”meansMinnesotaStatutes,Sections469.174through469.1794,bothinclusive. <br />14.“TIFDistrict”meansTaxIncrementFinancing(Housing)DistrictNo.1-8. <br />15. <br />SECTION1.03PLANPREPARATION <br />ThedocumentwaspreparedfortheCitybyNorthlandSecurities,Inc. <br />DRAFTFORPUBLICHEARINGOCTOBER9,20191 <br />12 <br /> <br />