Title
RESOLUTION ADOPTING A MODIFICATION TO THE DEVELOPMENT PROGRAM FOR DEVELOPMENT DISTRICT NO. 17, ESTABLISHING TAX INCREMENT FINANCING DISTRICT NO. 39: REDEVELOPMENT DISTRICT THEREIN AND ADOPTING A TAX INCREMENT FINANCING PLAN THEREFOR
Body
WHEREAS, it has been proposed by the Board of Commissioners (the "Board") of the Duluth Economic Development Authority ("DEDA") and the City of Duluth (the "City") that DEDA adopt a Modification to the Redevelopment Project / Municipal Development District adopted pursuant to Resolution 89D-03 (the "Development Program Modification") for the Redevelopment District (the "Project Area") and establish Tax Increment Financing District No. 39 (the "TIF District 39") and adopt a Tax Increment Financing Plan (the "TIF Plan") therefor (the Development Program Modification and the TIF Plan are referred to collectively herein as the "Program and Plan"), all pursuant to and in conformity with applicable law, including Minnesota Statutes, Sections 469.090 to 469.1082, and Sections 469.174 to 469.1794, inclusive, as amended (the "Act"), all as reflected in the Program and Plan and presented for the Board's consideration; and
WHEREAS, DEDA has investigated the facts relating to the Program and Plan and has caused the Program and Plan to be prepared; and
WHEREAS, DEDA has performed all actions required by law to be performed prior to the adoption of the Program and Plan.
NOW, THEREFORE, BE IT RESOLVED by the Board as follows:
1. DEDA hereby finds that the establishment of TIF District 39 is in the public interest and is a "Redevelopment District" under Minnesota Statutes, Section 469.174, Subd. 10 and Minnesota Statutes, Section 469.1794, and finds that the adoption of the proposed Program and Plan conform in all respects to the requirements of the Act and will help fulfill a need to redevelop an area of the State of Minnesota and increasing the commercial tax base by renovating a historic structure into into a mixed-use h...
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