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Policy Implications <br />Tax increment policy has limited the future use to Pay-As-You-Go. District termination is in line with <br />the Council's current policy and fulfills the purpose of improving the tax base for the total <br />community. <br />Financial Implications <br />The action releasing the districts shown in the Resolution attached, will release approximately <br />$1 ,000,000 of assessed value for the general taxpayers beginning in pay 2003. <br />The net tax increments collected by the city will be reduced to appro�mately $2.4 million annually <br />which is dedicated to the pay-as-you- go programs. <br />Staff Recommendations <br />Staff has reviewed the legal issues with the City's bond counsel, who has prepared the attached <br />resolution for the Council's action. Staff is recommending approval of the resolution. <br />Council Action <br />Motion to approve the resolution authorizing DeCert1$Cation of Tax Increment Financing Districts <br />Nos. 2, 3,4,14, and 15 of the City of Roseville. <br />Motion to approve the attached resolution providing for any future tax increment debt coverage <br />shortfall application to the State of Minnesota, would reflect an adjustment for the "missed <br />opportunity" of pooling tax increments from decertified districts and parcels. <br />