1987-001 Council Resolution - Laserfiche WebLink

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411 1.03. The City has performed all actions required by law to be performed prior to the establishment of Development District No. 1 and Housing District No. 1 -1, and the adoption of the Development Program and Tax Increment Financing Plan relating thereto, including, but not limited to, notification of Anoka County and Independent School District Nos. 12 and 831, having taxing jurisdiction, a review by the City Planning Commission of the proposed Development Program for Development District No. 1 and the holding of a public hearing upon published and mailed notice as required by law. Section 2. Findings for the Establishment of Development Dis- trict No. 1 and Housing District No. 1 -1. The Council hereby finds that the adoption of the Development Program for Development District No. 1, the establishment of Develop- ment District No.1 and the adoption of the Tax Increment Financing Plan for Housing District No. 1 -1 and the creation of Housing Dis- trict No. 1 -1 are intended and in the judgment of this Council its effect will be, to provide an impetus for single family and multi- family residential housing development in the City, to increase em- ployment and otherwise promote certain public purposes and accomplish certain objectives as specified in the Development Program and Tax Increment Financing Plan. Section 3. Statutory Findings for the Creation of Housing 40 District No. 1 -1. 3.01. The Council hereby finds that Housing District No. 1 -1 is a housing district as defined in Minnesota Statutes, Section 273.73; Subd. 11 in that: A portion of this project is intended for occupancy, in part, by persons or families of law and moderate income, as defined in Chapter 462A, Title II of the National Housing Act of 1934, the National Housing act of 1959, the United States Housing Act of 1937, as amended, Title V of-the Housing Act of 1949, as amended, any other similar pres- ent or future federal, state, or municipal legislation, or the regu- lations promulgated under any of those acts. The reasons supporting this finding are that Housing District No. 1 -1 constitutes single family housing development and that this de- velopment will meet the qualifications set forth in Chapter 462A for low and moderate income families. In addition, the public improvements to be constructed within Development District No. 1 are necessary for the development of additional multifamily housing intended for occu- pancy, in part, by persons or families of low and moderate income as defined in Minnesota Statutes, Section 273.73, Subd. 11. 3.02. The Council further finds that the proposed development, in the opinion of the Council, would not occur solely through private investment within the reasonably foreseeable future and, therefore, the 0 use of tax increment financing is deemed necessary. The specific ba- sis for such finding being: