06-22-1999 Council Agenda - Laserfiche WebLink

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TUN 18 '99 02 :00PM EHLERS & ASSOCIATES TIT' District June 18, 1999 Page 2 P.3/9 • You are required to give notice of the proposed amendments to your county commissioner at least 30 days before the publication of the notice for public hearing. The notice must contain a general description of the boundaries of the proposed district and the proposed activities to be financed by the district, an offer to meet and discuss the proposed district with the county commissioner, and a solicitation of the commissioner's comments with respect to the district. At least 30 days prior to the hearing, the City must provide the County and the School District with information on the fiscal and economic implications of the plan. The statute allows the County and the School District to waive the 30 -day period. • The notice of the public hearing must be published not less than 10 nor more than 30 days prior to the hearing. • The planning commission will review the amendments and render the finding that it conforms with the development plans of the City. • The City Council will conduct a public hearing and approve the plan amendments. Please note that the Economic Development Authority has statutory control of the TIF District. It would be desirable to have the EDA request the Council conduct the hearing on the proposed amendments. The EDA will be required to meet and to approve the plan amendments. With the 30 -day notice to the county commissioner, we have lost the ability to hold the hearing at the July 28`s Council meeting. The next regular meeting date is August 11. I have prepared and attached a resolution calling for the hearing. I will provide a hearing notice and county commissioner letter next week. Other Plan Changes We should use this process to make other amendments to the I'It- Plan. Key changes requiring a public hearing are listing of parcels for acquisition, increasing total authorized expenditures and increasing bonded indebtedness. In addition, the Plan should be updated to reflect activities that have already occurred within the District 5 -Year Rule Minnesota Statutes, Section 469. 1763, Subd. 3 sets forth a five -year time limit for the expenditure of funds in a TIF District. In simplest terms, after five years from certification tax PAGE 252