Item Coversheet

9.B.1.


Shakopee City Council
April 21, 2020

FROM:Michael Kerski, Director, Planning and Development
TO:Mayor and Council Members
Subject:
Resolution to approve the removal of parcel from Tax Increment Financing District No. 14 with the Minnesota River Valley Housing and Redevelopment Project No. 1
Policy/Action Requested:
Approve Resolution No. R2020-058 to approve the removal of parcel from Tax Increment Financing District No. 14 with the Minnesota River Valley Housing and Redevelopment Project No. 1
Recommendation:
Approve Resolution No. R2020-058
Discussion:

The EDA and the city countil found that this parcel was necessary to provide public access for the construction of a new road, Unbridled, that would connect to County Highway 83.  The City Council approved action for acquiring the parcel through eminent domain and the courts approved the action in March 2020.  The city has transferred funds to the escrow agent to acquire title by order of the court.

 

This parcel was formerly in Tax Increment District No. 14, which was created for J&J Minneapolis for the construction of a new facility for SanMar.  This Economic Development TIF District required that this parcel be used for a possible expansion of the SanMar property.  This has not occurred and the parcel is now being removed from that District to be included in the Canterbury District as part of the Canterbury Tax Increment District No. 18 modification.


Budget Impact:
ATTACHMENTS:
Description
Resolution No. R2020-058