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<br />(Cory <br /> <br />SPONSORED BY: MA YOR NOVAK & COUNCIL MEMBER DOWNING <br /> <br />COUNCILMAN'S RESOLUTION <br /> <br />RESOLUTION NO. <br /> <br />No. CR-l13 <br />Series of2009 <br /> <br />Series of 2009 <br /> <br />A RESOLUTION MODIFYING THE NORTH GLENN URBAN RENEWAL PLAN TO <br />SUSPEND TAX INCREMENT FINANCING FOR PROPERTY WITHOUT ACTIVE URBAN <br />RENEWAL PROJECTS <br /> <br />WHEREAS, the NOlthglenn Urban Renewal Area cUl1'ently consists of subareas referred <br />to as the NOlthglenn Marketplace, the Civic Center, Washington Point Shopping Center, Malley <br />Heights Shopping Center, Garland Shopping Center, and the Huron Center; <br /> <br />WHEREAS, the NOlthglenn Urban Renewal Plan implements sales and propelty tax <br />increment financing ("TIF) for all property in the Urban Renewal Area, except for the Huron <br />Center; <br /> <br />WHEREAS, although the NOlthglenn Urban Renewal Authority is actively planning <br />rehabilitation and redevelopment projects for all propelty within the Urban Renewal Area, urban <br />renewal projects have not yet been undertaken in a number of the Northglenn Urban Renewal <br />Area subareas; <br /> <br />WHEREAS, the City Council desires to suspend the implementation ofTIF for properties <br />that have not yet been redeveloped until new redevelopment projects are undeltaken; and <br /> <br />WHEREAS, in compliance with the Urban Renewal Law of Colorado, C.R.S. S 31-25- <br />101 et seq., the NOlthglenn City Council desires to suspend the use of tax increment financing <br />for the prope11ies described in Exhibit A. <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF NORTHGLENN, <br />COLORADO, THAT: <br /> <br />Section 1. The Northglenn Urban Renewal Plan is hereby modified to suspend the <br />use of tax increment financing for the propelties listed in Exhibit A, depicted in Exhibit B, with <br />suppOlting documentation outlined in Exhibit C. <br /> <br />Section 2. This modification does not substantially change the urban renewal plan in <br />land area, land use, design, building requirements, timing, or procedure, and therefore does not <br />constitute a substantial modification to the NOlthglenn Urban Renewal Plan pursuant to C.R.S. S <br />31-25-107(7). <br /> <br />6 <br />