10-27-1999 Council Agenda - Laserfiche WebLink

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TIF District No. 3 -2 if after four years from the date of certification of the original tax capacity of the tax increment financing district pursuant to Minnesota Statutes, Section 469.177, no demolition, rehabilitation or renovation of property or other site preparation, including qualified improvement of a street adjacent to a parcel but not installation of utility service including sewer or water systems, has been commenced on a parcel located within a tax increment financing district by the authority or by the owner of the parcel in accordance with the tax increment financing plan, no additional tax increment may be taken from that parcel and the original tax capacity of that parcel shall be excluded from the original tax capacity of the tax increment financing district. If the authority or the owner of the parcel subsequently commences demolition, rehabilitation or renovation or other site preparation on that parcel including improvement of a street adjacent to that parcel, in accordance with the tax increment financing plan, the authority shall certify to the county auditor in the annual disclosure report that the activity has commenced. The county auditor shall certify the tax capacity thereof as most recently certified by the commissioner of revenue and add it to the original tax capacity of the tax increment financing district. The county auditor must enforce the provisions of this subdivision... For purposes of this subdivision, qualified improvements are limited to (1) construction or opening of a new street, (2) relocation of a street, and (3) substantial reconstruction or rebuilding of an existing street. The City or a property owner must improve parcels within District No. 3 -2 by approximately November 1999. 2.12 Notification of Prior Planned Improvements The City shall, after due and diligent search, accompany its request for certification to the County Auditor or its notice of Tax Increment Financing District enlargement with a listing of all properties within the Tax Increment Financing District or area of enlargement for which building permits have been issued during the eighteen (18) months immediately preceding approval of the tax increment financing plan by the municipality pursuant to Section 469.175, Subd. 3, of the Tax Increment Financing Act. The County Auditor shall increase the original value of the Tax Increment Financing District by the value of improvements for which a building permit was issued. Pursuant to Minnesota Statutes, Section 469.177, Subdivision 4, the City has reviewed the area to be included in the District No. 3 -2 and found no parcels for which building permits have been issued during the 18 months immediately preceding approval of the Plan by the City. If the building permit had been issued within the 18 month period preceding approval of the plan by the City, the county auditor shall increase the original tax capacity of the district by the valuation of the improvements for which the building permit was issued. 2.13 Agreements 2.13.1 Requirements for Agreements with the Developer The City will review any proposal for private development to determine its conformance with the Project Plan and with applicable municipal ordinances and codes. To facilitate this effort, the following documents may be requested for review and approval: site plan, construction, mechanical, and electrical system drawings, landscaping plan, grading and storm drainage plan, signage system plan, and any other drawings or narrative deemed necessary by the City to demonstrate the conformance of the development with city plans and ordinances. The City may also use the Agreements to address other issues related to the development. Page 155 2 -13