12-18-1996 Council Agenda - Laserfiche WebLink

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1.03. Due to changes in project budgets, the addition of property to potentially be acquired in Development Districts Nos. 1 and 2 and Tax Increment Financing Districts Nos. 1 -1, 1 -2 and 2 -1, and the request to change the boundaries of Development Districts Nos. 1 and 2, it has been proposed that the City modify Development Districts Nos. 1 and 2 and modify Tax Increment Financing Districts Nos. 1 -1, 1 -2 and 2 -1 and approve and adopt the Modifications of the Development Programs and Modifications of the Tax Increment Financing Plans (collectively, the "Modifications ") relating thereto, all pursuant to and in accordance with Minnesota Statutes, Sections 469.001 to 469.047, Sections 469.090 to 469.108, and Sections 469.174 to 469.179, (collectively, the "Acts ") all inclusive, as amended. 1.04. The Council has investigated the facts and has caused to be prepared the Modifications. 1.05. The City has performed all actions required by law to be performed prior to the adoption of the Modifications, including, but not limited to, notification of Ramsey County and School District No. 623 having taxing jurisdiction over the property included in Tax Increment Financing Districts Nos. 1 -1, 1 -2 and 2 -1, a review by the City Planning Commission of the Modifications, and the holding of a public hearing upon published notice as required by law. Section 2. Findings for the Modifications. 2.01 In addition to modifying the budgets for Tax Increment Financing Districts Nos. 1 -1, 1 -2 and 2 -1, the City is enlarging the boundaries of Development Districts Nos. 1 and 2 as reflected in the Modifications. 2.02. The Council hereby reaffirms the previous findings made with respect to Development District Nos. 1 and 2 and Tax Increment Financing Districts Nos. 1 -1, 1 -2 and 2 -1; 2.03. The Modifications conform in all respects to the requirements of the Acts and will help fulfill a need to develop an area of the State which is already built up to provide employment opportunities to improve the tax base and to improve the general economy of the State and thereby serve a public purpose and will afford maximum opportunity, consistent with the sound needs for the City as a whole, for the development or redevelopment of the project area by private enterprise in that the intent is to provide only that public assistance necessary to make the private developments financially feasible. Section 3. Approval of the Modifications; Filing. 3.01. The Modifications are hereby approved, and shall be placed on file in the office of the City Administrator. Approval of the Modifications does not constitute approval of any project or a Development Agreement with any developer. 3.02. Revenue. The staff of the City are authorized to file the Modifications with the State Department of 3.03. The staff of the City, the City's advisors and legal counsel are authorized and directed to proceed with the implementation of the Modifications and for this purpose to negotiate, draft and prepare all further plans, resolutions, documents and contracts necessary for this purpose. Page 9