Item Coversheet

9.B.2.


Shakopee City Council
April 21, 2020

FROM:Michael Kerski, Director, Planning and Development
TO:Mayor and Council Members
Subject:
Resolution approving a modification to the Tax Increment Financing Plan for Tax Increment Financing District No.18
Policy/Action Requested:
Adopt Resolution No. R2020-056 approving a modification to the Tax Increment Financing Plan for Tax Increment Financing District No.18
Recommendation:
Adopt Resolution No. R2020-056
Discussion:

The City Council 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 City Council 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 No. R2020-056
TIF Plan Amendment