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RESOLUTION APPROVING LAWS OF MINNESOTA 2019, 1ST SPECIAL SESSION, CHAPTER 6, ARTICLE 7, SECTION 7, AUTHORIZING A REDEVELOPMENT TAX INCREMENT FINANCING DISTRICT FOR DEDA LOT D IN BAYFRONT.
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CITY PROPOSAL:
WHEREAS, the Minnesota legislature has passed Laws of Minnesota 2019, 1st Special Session, Chapter 6, Article 7, Section 7 (the “special law”) allowing the city of Duluth or the Duluth economic development authority (“DEDA”) to establish a redevelopment tax increment financing district in the city within the area described therein commonly referred to as DEDA Lot D.
WHEREAS, pursuant to Minnesota Statutes Section 645.021, Subdivision 2, the special law requires approval by a majority of the city council before it becomes effective.
THEREFORE BE IT RESOLVED, that Minnesota Laws 2019, 1st Special Session, Chapter 6, Article 7, Section 7 is hereby approved.
FURTHER RESOLVED, that the city clerk shall promptly file with the secretary of state the certification required by Minn. Stats. Sec. 645.021, subd. 3.
Statement of Purpose
STATEMENT OF PURPOSE: This resolution provides the required approval of the special state law that authorizes the city of Duluth or DEDA to establish by resolution a redevelopment tax increment financing district in the city in the area commonly referred to as DEDA Lot D. The property is legislatively described as that lying within the area bordered on the northeast by Slip 3 and the Pier B Resort property line extended northwest to Interstate 35, on the southeast by the Duluth Harbor, on the southwest by the Compass Minerals property line extended northwest to Interstate 35, and on the northwest by Interstate 35 together with adjacent roads and rights-of-way.