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. .. CITY OF CENTERVILLE STATE OF MINNESOTA RESOLUTION 97-12 RESOLUTION REMOVING CERTAIN PARCELS FROM TAX INCREMENT FINANCING DISTRICT NO. 1-4 BE IT RESOLVED BY the City Council ("Council") of the City of Centerville, Minnesota (the "City") as follows: Section 1. Recitals 1.01. The City has heretofore approved the establishment of Tax Increment Financing District No. 1-4 (the "TIF District") within Development District NO.1 (''Project''), and has adopted a tax increment financing plan ("TIF Plan") for the purpose of financing certain improvements within the Project, all in accordance with Minnesota Statutes, Section 469.174 to 469.176 (the ''TIF Act"). 1.02 Under Section 469.175, subd. 4, the City may modify the TIF Plan without the notice, public hearing and findings required for approval of the initial plan if the only modification is elimination of parcels from the TIF District and the current tax capacity of the parcels eliminated exceeds the net tax capacity of those parcels in the district's original net tax capacity. 1.03. The City has determined a need to eliminate the parcels described in Exhibit A attached hereto from the TIF District, and has found that the current net tax capacity of those parcels exceeds their original net tax capacity. Section 2. Parcels Eliminated: Other Proceedings. 2.01. The parcels listed in Exhibit A are hereby eliminated from TIF District No. 1-4 and TIF Plan for that district is modified to reflect that change. 2.02. City staff are directed to attach a copy of this resolution to the TIF Plan for the TIF District maintained in City Files, and to file a copy with the County Auditor and the State Commissioner of Revenue, in accordance with the TIF Act. Adopted this 25 day of June, 1997. . .... ~2'" /' -' ...,....~... ....~......-- t .- /./ /')" ,... l,<'. 1 "- .,.........." ~ Tom Wilharber, Mayor '----- 1!itT: IJrumtad ('ALl Ry- el Gaustad, City Clerk