Item Coversheet

4.B.


Shakopee Economic Development Authority
April 21, 2020

FROM: Michael Kerski, Director, Planning and Development 
TO:President and Board Members
Subject:
Resolution approving a modification to the Tax Increment Financing Plan for Tax Increment Financing District No.18
Policy/Action Requested:
Approve Resolution No. E2020-001, approving a modification to the Tax Increment Financing Plan for Tax Increment Financing District No. 18
Recommendation:
Approve Resolution No. E2020-001
Discussion:

The Economic Development Authority held a public hearing last year to modify Tax Increment District No. 18 for Canterbury.  The changes to the District included added several properties to the District including two currently owned by Scott County, a crane yard, the former Outboard Motor site (now owned by Canterbury) and a small vacant parcel that was owned by J&J Minneapolis that has since been acquired through eminent domain for the extension of Unbridled Avenue to County Highway 83.

 

The EDA found last year that the condition of the properties already met the requirements to be included in the District.  The attached modification to the current TIF plan incorporates these into the District.

Budget Impact:
ATTACHMENTS:
Description
Resolution E2020-001
TIF Plan Amendment