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HomeMy WebLinkAboutCCRes_96-03. Ccunci 1 Member Jacobs introduced the following resoluticn, the =easing of which was dispensed with by unanimous consent, and moved its ade~tion: CITY OF F.~I,CON HEIGHTS COL'N'I'Y OF RAi~iSEY STATE OF MINNESOTA RESOLUTION NO. g6-03 A RESOLUTION MODIFYING THE DEVELOPMENT PROGRAM FOR DEVELOPMENT DISTRICT NO. 1 INCLUDING THE TAX INC.'ZEMENT FINANCING PLAN FOR ITS TAX INCREMENT FINANCING DISTRICT NO. 2, AND THE DEVELOPMENT PROGRAM FOR DEVELOPMENT DISTRICT NO. 2 INCLUDING THE TAX INCREMENT FINANCING PLAN FOR ITS TAX INCREMENT FINANCING DISTRICT NO. 1 TO REFLECT INCREASED GEOGRAPHIC AREA, BONDED INDEBTEDNESS AND PROJECT EXPENSES WITHIN DEVELOPMENT DISTRICTS N0. 1 AND NO. 2. • BE IT RESOLVED by the City Council (the "Council") of the City of Falcon Heights, Minnesota (the "City"), as follows: Section 1. Rec=. 1.01. It has been proposed that the Council modify, approve and adopt the Development Program for Development District No. 1 and the Tax Increment Financing Plan for Tax Increment Financing District No. 2 located therein to reflect increased geographic area, increased bonded indebtedness and increased project costs, pursuant to and in accordance with Minnesota Statutes, Sections 469.124 to 469.134 and 469.174 through 469.179, inclusive,•as amended and supplemented from time to time. 1.02. It has been further proposed that the Council modify, approve and adopt the Development Program for Development District No. 2 and the Tax Increment Financing Plan for Tax Increment Financing District No. I located therein to reflect increased geographic area, increased bonded indebtedness and increased project costs, pursuant to and in accordance with Minnesota Statutes, Sections 469.124 to 469.134 and 469.174 through 469.179, inclusive, as amended and supplemented from time to time. 1.03. The Council has caused to be prepared and has investigated the facts with respect thereto, modified Development • Programs for Development Districts No. 1 and No. 2 (collectively the "Development. Districts") and modified Tax Increment Financing Plans for Tax Increment Financing Districts No. 2 and 1, • respectively 1CCated therein, (Collectively the "TIF D1StriCtS"~ to reflect increased geographic area, increased bonded indebtedness and increased project costs within the Development Districts, defining more precisely the properties to be included, the public costs to be incurred and other matters relating thereto. 1.0a. The Council has performed all actions required by law to be performed prior to the modification, approval and adoption of the modified Development Programs for the Development Districts and of the modified Tax Increment Financing Plans for the TIF Districts. 1.05. The Council hereby determines that it is necessary and in the best interests of the City at this time to modify, approve and adopt the modified Development Programs and the modified Tax Increment Financing Plans to reflect increased geographic area, increased bonded indebtedness and increased project costs within the Development Districts. Section 2. Findings. 2.01. The Council hereby finds, determines and declares that any assistance to be provided through the adoption and implementation of the modified Development Programs and modified • Tax Increment Financing Plans are necessary to assure the development and redevelopment of the Development Districts. 2.02. The Council hereby finds, determines and declares that the modified Development Programs and modified Tax Increment Financing Plans conform to the general plan for the development and redevelopment of the City as a whole in that they are consistent with the City's comprehensive plan. 2.03. The Council hereby finds, determines and declares that the modified Development Programs and modified Tax Increment Financing Plans afford maximum opportunity consistent with the sound needs of the City as a whole for the development and redevelopment of the Development Districts by private enterprise and it is contemplated that the development and redevelopment thereof will be carried out pursuant to redevelopment contracts with private developers. 2.04. The Council hereby finds, determines and declares that the modification, approval and adoption of the modified Development Programs and modified Tax Increment Financing Plans by the City is intended and, in the judgement of this Council, its effect will be to promote the purposes and objectives specified in this Section 2 and otherwise promote certain public purposes and accomplish certain objectives as specified in the modified Development Programs and modified Tax Increment Financing Plans. • Section 3. Modification, Approval and Adoption of the Modified Development Procrram Relating to Development District No 1 3.01. The modifications to the Development Program relating to Development District No. 1 reflecting increased geographic area, increased bonded indebtedness and increased project costs are hereby approved and adopted by the Council of the City of Falcon Heights. Section 4. Modification Approval and Adoption of the Modified Tax Increment Financina Plan Relating to Tax Increment Financina District No. 2. 4.01. The modifications to the Tax Increment Financing Plan relating to Tax Increment Financing District No. 2 reflecting increased geographic area, increased bonded indebtedness and increased project costs within Development District No. 1 are hereby approved and adopted by the Council of the City of Falcon Heights. Section 5. Modification. Approval and Adoption of the Modified Development Program Rel-.-at?ng to Development District No. 2 . 5.01. The modifications to the Development Program relating to Development District No. 2 reflecting increased geographic area, increased bonded indebtedness and increased project costs are hereby approved and adopted by the Council of the City of Falcon Heights. Section 6. Modification Approval and Adoption of the Modified Tax Increment Financina Plan Relating to Tax Increment Financina District No. 1. 6.01. The modifications to the Tax Increment.Financing Plan relating to Tax Increment Financing District No. 1 reflecting increased geographic area, increased bonded indebtedness and increased project costs within Development District No. 2 are hereby approved and adopted by the Council of the City of Falcon Heights. Section 7. Filing of Plans. 7.01. Upon approval and adoption of the modified Development Programs and modified Tax Increment Financing Plans (collectively the "Plans"), the City shall cause said Plans to be filed with the Minnesota Department of Revenue. Adopted by the Council of the City this 24th day of January, 1996. • Upon vote being taken upon the resolution, the following voted in favor thereof: Gehrz, Jacobs, Hustad and the following voted against same: None Whereupon said resolution was declared duly passed and adopted, and was signed by the Mayor and attested to by the City Clerk. ~'~-~~t:~c~ -~ 1 Mayor ATTEST: City Clerk • n U