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Last modified
7/17/2007 9:26:28 AM
Creation date
7/1/2005 1:05:33 PM
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Roseville City Council
Document Type
Council Resolutions
Meeting Date
6/20/2005
Resolution #
10316B
Resolution Title
A RESOLUTION RESTATING THE DEVELOPMENT PROGRAM FOR DEVELOPMENT DISTRICT NO.1, CREATING TAX INCREMENT FINANCING DISTRICT NO. 17 AND HAZARDOUS SUBSTANCE SUBDISTRICT NO. 17 A, AND ADOPTING TAX INCREMENT FINANCING PLANS RELATING THERETO.
Resolution Date Passed
6/20/2005
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<br />a hazardous substance site, it will be developed with the adjacent parcels within the <br />Subdistrict as allowed by Minnesota Statutes, Section 469.175, Subdivision 7. <br /> <br />4. Finding that the Subdistrict is not larger than, and the period of time during <br />which tax increments are elected to be received is not longer than, that which is <br />necessary, in the opinion of the Council, to provide for the additional costs due to <br />the designated hazardous substance site. <br /> <br />The Council has determined that the parcels located within the Subdistrict require <br />remediation and removal actions in order for the redevelopment of the District to proceed <br />as proposed. The Council has also determined that the duration of the Subdistrict will <br />extend only as long as is required to finance the remediation, removal and related <br />activities. <br /> <br />5. Finding that the expenditure of tax increment serves a primarily public <br />purpose. <br /> <br />The expenditure of tax increment is not intended as a private benefit, and any such <br />benefit is incidental. The principal intent for the tax increment expenditures includes the <br />removal and remediation actions needed, and associated costs, for the parcels included <br />in the Subdistrict. See also Exhibit B, Item 4. <br /> <br />10 <br />
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