11-22-1995 Council Agenda - Laserfiche WebLink

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NOV 16 '95 02 :59PM EHLERS & ASSOCIATES CITY OF LITTLE CANADA, MINNESOTA RESOLUTION NO. RESOLUTION APPROVING MODIFICATIONS TO DEVELOPMENT DISTRICT NOS. 2, 4 AND 5 AND THE DEVELOPMENT PROGRAMS RELATED !HERETO AND APPROVING MODIFICATIONS OF THE TAX INCREMENT FINANCING PLANS FOR TAX INCREMENT FINANCING DISTRICT NOS. 2-1,3, AND 5 WITHIN DEVELOPMENT DISTRICTS NOS. 2, 4, AND 5. P.4/6 BE IT RESOLVED by the City Council (the "Council ") of the City of Little Canada, Minnesota (the "City "), as follows: Section 1. Recitals. 1.01. The City has heretofore created Development Districts Nos. 2, 4, and 5 (the "Development Districts ") and it has been proposed that the City modify the Development Districts and the Development Programs with respect thereto, and modify the Tax Increment Financing Plans for Tax Increment Financing District No. 2-1 (located within Development District No. 2), Tax Increment Financing District No. 3 (located within Development District No. 4), and Tax Increment Financing District No. 5 (located within Development District No. 5) (the "TIF Districts "), all pursuant to and in accordance with Minnesota Statutes, Sections 469.124 through 469.134, inclusive; and Minnesota Statutes, Sections 469.174 through 469.179, inclusive. 1.02. The Council has investigated the facts and has caused to be prepared modified Development Programs for the Development Districts (the "Programs "), and modified Tax Increment Financing Plans for the TIF Districts (the 'Plans "). 1.03. The City has performed all actions required by law to be performed prior to the adoption of the Programs and Maas, including, but not limited to, notification of Ramsey County and School District No. 623 having taxing jurisdiction over the properties included in the Development Districts and TIT Districts, a review by the City Planning Commission of the proposed Programs and Plans and the holding of a public hearing upon published notice as required by law. Section 2, Findings. 2.01. The Council hereby finds that the Programs and Plans are intended and, in the judgement of this Council, the effect of such actions will be, to provide an impetus for economic development in the public purposes and accomplish certain objectives as specified in the Plans, 2.02. The Council further finds that the proposed development in the TIF Districts, as modified, in the opinion of the Council, would not occur solely through private investment within the reasonably foreseeable future and, therefore, the use of tax increment financing is deemed necessary; that the Plans conform to the general plan for the development or redevelopment of the City as a whole; and that the Plans will afford maximum opportunity consistent with the sound needs of the City as a whole by private - 1 - Page 17