EDA Resolution 12-EDA-274A - Laserfiche WebLink

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MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY CITY OF MOUNDS VIEW RAMSEY COUNTY STATE OF MINNESOTA RESOLUTION NO. 12 -EDA -274 f I RESOLUTION ADOPTING A MODIFICATION TO THE PROJECT PLAN FOR THE MOUNDS VIEW ECONOMIC DEVELOPMENT PROJECT AND ADOPTING MODIFICATIONS TO THE TAX INCREMENT FINANCING PLANS FOR TAX INCREMENT FINANCING DISTRICTS NOS. 1, 2, AND 3. WHEREAS, it has been proposed by the Board of Commissioners (the "Board") of the Mounds View Economic Development Authority (the "EDA") and the City of Mounds View (the "City") that the EDA adopt a Modification to the Project Plan for the Mounds View Economic Development Project (the "Project Plan Modification") and modifications to the Tax Increment Financing Plans (the "TIF Plans") for Tax Increment Financing Districts Nos. 1, 2, and 3 (the "TIF Districts") (the Project Plan Modification and the TIF Plans are referred to collectively herein as the "Plans"), all pursuant to and in conformity with applicable law, including Minnesota Statutes, Sections 469.090 to 469.1082, and Sections 469.174 to 469.1799, inclusive, as amended (the "Act"), all as reflected in the Plans and presented for the Board's consideration; and WHEREAS, the EDA has investigated the facts relating to the Plans and has caused the Plans to be prepared; and WHEREAS, the EDA has performed all actions required by law to be performed prior to the adoption of the Plans. The EDA has also requested the City Planning Commission to provide for review of and written comment on the Plans and that the Council schedule a public hearing on the Plans upon published notice as required by law. NOW, THEREFORE, BE IT RESOLVED by the Board as follows: 1. The EDA hereby reaffirms that the Districts as modified herein are in the public interest and are "redevelopment districts" under Minnesota Statutes, Section 469.174, subd. 10 (a)(1), and finds that the Modifications conform in all respects to the requirements ofthe Act and will help fulfill a need to develop an area of the State of Minnesota which is already built up and that the adoption of the proposed Modifications will help provide employment opportunities in the State and in the preservation and enhancement of the tax base of the City and the State because it will discourage commerce and industry from moving their operations to another state or municipality and thereby serves a public purpose. 2. The EDA further finds that the Modifications 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.