2015-08H HRA ResolutionMOUND HOUSING AND REDEVELOPMENT AUTHORITY
RESOLUTION NO. 15-08H
RESOLUTION APPROVING THE ELIMINATION OF PARCELS FROM
TAX INCREMENT FINANCING DISTRICT NO. 1-2 WITHIN
DEVELOPMENT DISTRICT NO. 1 OF THE CITY OF MOUND
WHEREAS, on December 14, 1999, the City of Mound (the "City") created its Tax Increment
Financing District No. 1-2 (the "TIF District") within its Development District No. I by approval of a tax
increment financing plan (the "TIF Plan) for the TIF District; and
WHEREAS, the Mound Housing and Redevelopment Authority (the "HRA") is the
administrative authority for the TIF District; and
WHEREAS, the following properties, by property identification numbers, were included in the
TIF District:
1311724330159
1311724330160
WHEREAS, the HRA desires by this resolution to amend the TIF Plan to remove the above-
described parcels from the TIF District, thereby reducing the size thereof; and
WHEREAS, the total current net tax capacity of the parcels to be eliminated from the TIF District
equals or exceeds the net tax capacity and, therefore this amendment to the TIF Plan is accomplished
pursuant to Minnesota Statutes, Section 469.175, Subdivision 4, clause (e)(2)(A).
NOW THEREFORE, BE IT RESOLVED by the HRA that the TIF Plan for the TIF District is
hereby amended to remove the described parcels and the Executive Director is authorized and directed to
notify the Hennepin County Director of Property Tax and Public Records thereof pursuant to Minnesota
Statutes, Section 469.175, Subdivision 4, clause (c).
Adopted by the HRA this le day of July, 2015
Chair Mark Wegscheid
Attest: Catherine Pausche, Clerk