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RESOLUTION NO. 2018-068 <br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF NEW BRIGHTON <br />RESOLUTION AUTHORIZING DECERTIFICATION OF THE CITY OF NEW BRIGHTON’S TAX <br />INCREMENT FINANCING DISTRICT NO. 18 – REMMELE, CBD WEST <br />WHEREAS, on October 1, 1992, the City of New Brighton (the “City”) certified its Tax <br />Increment Financing District No. 18 – Remmele, CBD West within its Development District (the <br />“Project”); and <br />WHEREAS, as of December 31, 2018, all bonds and obligations to which tax increment <br />from District No. 18 have been pledged have been paid in full or defeased; and <br />WHEREAS, the City desires by this resolution to cause the decertification of District No. <br />18 after which all property taxes generated by property with the District will be distributed in the <br />same manner as all other property taxes beginning January 1, 2019. <br />NOW THEREFORE, BE IT RESOLVED by the City Council of the City of New Brighton that <br />the City’s staff shall take such action as is necessary to cause the County Auditor of Ramsey <br />County to decertify District No. 18 – Remmele, CBD West as a tax increment district and to no <br />longer remit tax increment from the District to the City. <br />ADOPTED this 28th day of August 2018 by the New Brighton City Council with a vote of _____ <br />ayes and _____ nays. <br />Valerie Johnson, Mayor <br />ATTEST: Dean R. Lotter, City Manager <br />Terri Spangrud, City Clerk