Res 03-05HMOUND HRA
RESOLUTION NO. 03-05H
RESOLUTION MODIFYING TAX INCREMENT DISTRICT
BY THE ELIMINATION OF PARCEL THEREFROM
(Former Longpre Site)
BE IT RESOLVED, by the Housing and Redevelopment Authority in and for the City of
Mound, Minnesota as follows:
1. Redevelopment Tax Increment Financing District No. 1-2 is hereby modified
by eliminating therefrom the following parcel of land, to wit:
That part of Lot 8, Auditor's Subdivision Number 170, described as follows: Beginning at a point on
the Westerly line of said Lot distant 50.65 feet North of the Southwest corner thereof; thence North
along the West line of said Lot to the Northwest corner thereof; thence Easterly along the Northerly
line of said Lot a distance of 40.1 feet; thence South parallel with the West line of said Lot a distance
of 60 feet; thence at a right angle East 10 feet; thence at a right angle South 5.5 feet, more or less to
a point 50.2 feet North of the South line of said Lot; thence Westerly in a straight line to the point of
beginning; ALSO That part of Lot 8, Auditor's Subdivision Number 170, described as follows:
Beginning at the Northwest corner of said Lot 8; thence Easterly along the Northerly line of said Lot a
distance of 40.1 feet; thence South parallel with the West line of said Lot a distance of 60 feet; thence
at a right angle East 10 feet; thence at a right angle South 5.5 feet, more or less to a point 50.2 feet
North of the South line of said lot, said point being the actual point of beginning of the trace of land to
be described; thence continuing South along the last described course 50.2 feet to the South line of
said Lot; thence West along the South line of said Lot to the Southwest corner thereof, thence North
along the West line of said Lot a distance of 50.65 feet; thence Easterly in a straight line to the actual
point of beginning, including vacated portion of road, adjoining the above described tracts. ALSO:
Lot 4, McNaught's Addition to "Mound", Lake Minnetonka, EXCEPT the South 29.3 feet thereof;
including vacated portion of road adjoining the above described property.
2. The current net tax capacity of the parcel equals or exceeds the original net
tax capacity of the area of land comprising the parcel.
3. The Finance Director of the City of Mound is hereby authorized and directed
to provide the County Auditor with all information and documents necessary to carry out
the objectives of this resolution.
Passed by the Housing and Redevelopment Authority of the City of Mound, Minnesota this
24th day of June, 2003.
Chair Pat Meisel
Attest: Bonnie Ritter, City Clerk
JBD-233368vl
MU195-2