Item Coversheet

7.A.


Shakopee City Council
November 1, 2022

FROM:Michael Kerski, Planning/Development Director
TO:Mayor and Council Members
Subject:
TIF Spending Plan adoption
Policy/Action Requested:

Open Public Hearing

Close Public Hearing

Approve Resolution R2022-134, Approving a Spending Plan for Certain Tax Increment Financing Districts Located in the City of Shakopee

Recommendation:
Approve Resolution
Discussion:

In March 2022, the City Council and EDA approved a Spending Plan for specific Tax Increment Districts in the city of Shakopee.

 

Since that time, the city has been using outside counsel from Dorsey & Whitney to review our TIF Districts and impacts on pooling and projects.

 

Our lead attorney from the firm, Jay Lindgren, suggested some minor modifications to the adopted plan to ensure that the funds are used properly within the regulations and has recommended these modifications.

Budget Impact:
N/A
ATTACHMENTS:
Description
Resolution
Spending Plan