HomeMy WebLinkAboutResolution No. 108-08 . CITY OF ROCHESTER
• COUNTY OF OLMSTED
STATE OF MINNESOTA
RESOLUTION NO. LDS-O
Resolution Authorizing Decertification
Of the City's Tax Increment
Financing District No. 8-1 and Terminating
The Related Development Assistance Agreement
BE IT RESOLVED by the Common Council (the "Council") of the City of
Rochester,- Minnesota (the "City"), as follows:
1. Recitals
(a) On April 7, 1997, the Council approved the City's Tax
Increment Financing District No. 8-1 (the "TIF District").
(b) The City also entered into a certain Development Assistance
Agreement dated as of April 7, 1997, (the "Development
Agreement"), with Thomas Gauthier (the "Developer"),
pursuant to which the Developer agreed to substantially
• complete a 50,000 square foot expansion to the Gauthier
Industries existing manufacturing facility within the TIF
District by December 31, 1997.
(c) The Company completed the "Improvements" by December
31, 1997, as required under the provisions of Section 3.1 of
the Development Assistance Agreement. The City provided
the "Available Tax Increments" tax increment
reimbursements to the Developer as required under the
provisions of Section 3.2 of the Development Assistance
Agreement. The obligations of both parties to the
Development Assistance Agreement have been fulfilled.
2. Decertification of TIF District
The Council hereby approves and directs that the TIF District be
immediately decertified, and City staff is directed to request in
writing that the Olmsted County Auditor promptly decertify the TIF
District. In addition, City staff shall provide to the County Auditor a
certified copy of this Resolution.
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3. Termination of Development Assistance Agreement.
• The Council hereby directs that the Development Agreement be,
and the same hereby is, terminated since both parties' obligations
under the Development Agreement have been fulfilled. City staff is
further directed to provide the.Developer with written notification of
this termination.
PASSED AND ADOPTED BY THE COMMON COUNCIL OF THE CITY OF
ROCHESTER, MINNESOTA, THIS —C DAY OF MA02W , 2008.
PRESIDENT OF SAID COMMON COUNCIL
ATT.ESTC a/�' J
_ CITY CLERK
fiPPROVED THIS DAY` OF AW4V , 2008.
MAYOR OF SAID CITY
(Seal-,of the:City of
:Rochester; Minnesota*'
Councilmember Marcoux moved the adoption of the foregoing
resolution, which motion was duly seconded by Councilmember
Nowi cki and upon vote being taken thereon, the following
Councilmembers voted in favor thereof: President Dennis Hanson, Counci lmembers
Pat Carr, Ed Hruska, Marcia Marcoux, Sandra Means, Bob Nowicki , Bruce
Snyder
And the following Council members-voted against the same:
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. None
Whereupon said resolution was declared duly passed and adopted.
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CITY CLERK'S CERTIFICATE
I, the undersigned, being duly qualified and acting City Clerk of the City of
Rochester, Minnesota, DO HEREBY CERTIFY. that I have carefully compared the
attached and foregoing extract of minutes of a duly called and regularly held meeting of
the Common Council of said City held on the date therein indicated, with the original
minutes thereof on file in my office and I further certify that the same is a full, rue, and
correct transcript thereof insofar as said minutes relate to the tax increment and related
actions referenced therein respecting the decertification of the City's Tax Increment
Financing District No. 8-1 and termination of the related Development Assistance
Agreement.
WITNESS, my hand officially and the official seal of the City this day of
2008.
ity Clerk
Rochester, Minnesota
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