Item Coversheet

4.A.


Shakopee Economic Development Authority
November 1, 2022

FROM: Michael Kerski, Planning/Development Director 
TO:President and Board Members
Subject:
Tax increment spending plan.
Policy/Action Requested:

Open Public Hearing

Close Public Hearing

Adopt Resolution E2022-011 Approving a Spending Plan for Certain Tax Increment Financing Districts Located in the City of Shakopee

Recommendation:
Adopt Resolution E2022-011
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