HomeMy WebLinkAboutResolution No. 030-26 (EDA 001-26) - EDA - Rochester TIF 47-1 Decertification
JOINT RESOLUTION
EDA RESOLUTION NO. ______
COUNCIL RESOLUTION NO. ______
Rochester Economic Development Authority
Rochester City Council
County of Olmsted, State of Minnesota
Approving the Decertification of Tax Increment Financing District No. 47-1 (Pepsi-
Cola Bottling Project).
WHEREAS, the Rochester Economic Development Authority (the “EDA”) has
heretofore established Economic Development District No. 47 (the “Development
District”) in the City of Rochester, Minnesota (the “City”) and have adopted a development
program therefor (the “Development Program”) pursuant to Minnesota Statutes, Sections
Sections 469.174 through 469.1799, as amended (the “TIF Act”); and
WHEREAS, on May 18, 2015, the City and the EDA approved establishing Tax
Increment Financing District No. 47-1 (Pepsi-Cola Bottling Project) (the “TIF District”)
within the Development District and adopted a tax increment financing plan therefor (the
“TIF Plan”) pursuant to Minnesota Statutes, Sections 469.174 through 469.1799, as
amended (the “TIF Act”); and
WHEREAS, as of the date hereof, the development documents pertaining to the TIF
District have expired by their terms (the “Development Documents”) and all obligations to which
tax increment from the TIF District have been pledged have been paid in full or defeased;
and
WHEREAS, the EDA and the City desire by this resolution to cause the
decertification of the TIF District, after which all property taxes generated by property
within the TIF District will be distributed in the same manner as all other property taxes.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of
Rochester, Olmsted County, Minnesota, and the Board of Commissioners of the
Rochester Economic Development Authority as follows:
Section 1. Decertification. The TIF District shall be deemed decertified as of
December 31, 2025. The EDA’s and City’s staff shall take such action as is necessary to
cause the County Auditor of Olmsted County to decertify the TIF District as a tax
increment district, effective as of December 31, 2025 or as soon thereafter as is feasible,
and to no longer remit tax increment from the TIF District to the EDA.
Section 2. Remaining Increments. Any remaining increments not eligible for
spending, as determined by the Executive Director of the EDA, will be returned to Olmsted
County for redistribution in accordance with the TIF Act.
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Section 3. Direction to EDA Staff. EDA Staff is authorized and directed to
determine the amount of tax increments to be returned to Olmsted County for
redistribution, if any, and to transmit a copy of this resolution to Olmsted County with a
request to decertify the TIF District, it being the intent of the EDA that no further collection
of tax increment from the TIF District will be distributed to the EDA after December 31,
2025.
PASSED AND ADOPTED BY THE BOARD OF COMMISSIONERS OF THE
ND
ROCHESTER ECONOMIC DEVELOPMENT AUTHORITY, THIS 2 DAY OF
FEBRUARY, 2026.
PRESIDENT OF SAID AUTHORITY
SECRETARY OF SAID AUTHORITY
PASSED AND ADOPTED BY THE COMMON COUNCIL OF THE CITY OF
ROCHESTER, MINNESOTA, THIS __________ DAY OF _______________, 2026.
___________________________________
PRESIDENT OF SAID COMMON COUNCIL
ATTEST: __________________________
CITY CLERK
APPROVED THIS _____ DAY OF ______________________, 2026.
___________________________________
MAYOR OF SAID CITY
(Seal of the City of
Rochester, Minnesota)
4918-0953-8951.1