Title
PROPOSED RESOLUTION
DECERTIFYING TAX INCREMENT FINANCING REDEVELOPMENT DISTRICT NO. 22 OF THE CITY OF LUVERNE
Body
Proposed Resolution No. 13-25 to officially decertify Tax Increment Financing (TIF) Redevelopment District No. 22 Barck Housing Development, effective December 31, 2025. This decision follows confirmation that all financial obligations tied to the district have been satisfied, allowing the tax base to return to standard taxing jurisdictions starting in 2026. The Finance Director is authorized to complete all necessary steps for decertification, including notifying Rock County and the State Auditor, redistributing any excess increment funds, and closing out the district fund.
recommendation
City Administrator Recommendation: City Council Approve Proposed Resolution No. 13-25