86-122 WHITE - CITV CLERK
PINK - FINANCE GITY OF SAINT PAUL Council
CANARV - OEPARTM NT t /n
BLUE - MAVOR Flle NO. W /�
Council Resolution
Presented B
eferre To �C�l S L/�-Tt'o Committee: - Date � ' �� —��
Out of mmittee By Date
WHEREAS, Tax Increment Financing is a valuable and flexible
economic development and redevelopment tool
available to Minnesota cities, and
WHEREAS, the City of Saint Paul has used Tax Increment
Financing to create low to moderate income
housing opportunities, economic development
projects, and redevelopment projects throughout
the CIty of Saint Paul, and
WHEREAS, Tax Increment Financing activities in the City
of Saint Paul are reported to and monitored by
the State Auditor on an annual basis, and
WHEREAS, recent federal legislation has severely restricted
the availability of certain types of tax-exempt
financing (industrial development bonds and mortgage
revenue bonds) and the pending proposal for
federal tax reform further threatens the
ability of cities to finance housing and economic dev-
elopment projects, now therefore be it
RESOLVED, that the City of Saint Paul supports the
continued availability of tax increment
financing and the efforts of the League of
Minnesota Cities and Minnesota �dAHRO Task
Force to preserve and enhance Tax Increment
Financing in Nlinnesota.
COUNCILMEN Requested by Department of:
Yeas p�� Nays �
'�'��`-�7'�� [n Favor
Nicosia
Scheibel
Sonne�' �_ Against BY
Tedesco
W i Ison
JAN 3 0 1986 Form Approved by City Attorney
Adopted by Council: Date
CertiEied P s un il reta BY
By
A►ppro y Kavor: Date ' ` - ��86 Approved by Mayor for Submission to Council
By BY
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COMiV1tT�' � E RE POF�' T -- Page 2
T4 = SQ�n� PQUt Cifi�► Co�ncii
��� � ' COmt�i�'�Qe OP't LEGISLATION
C H A i R : �ONN DREW
Saint Paul Hotel/Motel Tax - Approved.
���i�.�����c��..:-.�A�'�ue�l.
Pre-Admission Screenin - Approved.
CHCH Bonding - COMMITTEE SUBMITS TO THE CITY GOUNCIL WITHOUT RECOMMENDATION.
_._� . _ .St. Paul Ramse Medical Center - COM�hITTEE SUBMITS TQ fHE CITY COUNCIt ° -- �
WITHOUT RECOMME�VDATIQN.
Local Government Aid - Approved.
Taxicabs - Approved.
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CIT'Y HALL SEVENTH FLOOR SAINT PAUL, hflNNE50TA SS1�2
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