Title
RESOLUTION ADOPTING AN AMENDMENT TO THE TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 7 (COUNTY NO. 32).
Body
CITY PROPOSAL:
BE IT RESOLVED by the city council ("council") of the city of Duluth, Minnesota ("city"), as follows:
Section 1. Recitals
1.01. The board of commissioners ("board") of the Duluth Economic Development Authority ("DEDA") has heretofore established a housing development project/municipal development district ("District 1") and adopted a development program therefor. Tax increment financing district No. 7 (the "TIF district") was created within the physical boundary of District 1, and District 1 was the designated "project" for the TIF District within the meaning of Minnesota Statutes, Section 469.174, Subd 8. It has been proposed by DEDA that the city adopt an amendment to the tax increment financing plan (the "TIF plan") for the TIF district which is referred to herein as the "amendment", pursuant to and in conformity with applicable law, including Minnesota Statutes, Sections 469.090 to 469.1082 and Sections 469.174 to 469.1799, all inclusive, as amended, (the "act") all as reflected in the amendment, and presented for the council's consideration.
1.02. DEDA and city have investigated the facts relating to the amendment and have caused the amendment to be prepared.
1.03. DEDA and city have performed all actions required by law to be performed prior to the adoption and approval of the amendment, including, but not limited to, notification of St. Louis County and Independent School District No. 709 having taxing jurisdiction over the property in the TIF district, notification of each county commissioner who represents part of the area included in the TIF district, approval of the amendment by DEDA on July 22, 2015, and the holding of a public hearing upon published notice as required by law.
Section 2. Findings for the amendment to the TIF plan.
2.01 The council hereby reaffirms the or...
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