Agenda Packets - 1997/04/28 - Laserfiche WebLink

Home Browse Search

111/ Pursuant to the Enabling Act, on March 28, 1994, the Council adopted an enabling resolution and thereby established the EDA. Pursuant to Section 469.094, Subdivision 2, of the Enabling Act, the City transferred to the EDA, and the EDA accepted from the City transfer of, the control, authority, and operation of the Development Districts, including the existing Tax Increment Districts therein, thereby empowering the EDA to exercise all of the powers that the City could exercise with respect to the Development Districts, subject to the covenant and pledge by the EDA to perform the terms, conditions, and covenants of all bond indentures and other agreements executed for the security of any bonds issued and any other activities undertaken with respect to the Development Districts. The EDA recognizes and finds that, while appropriate uses and emphases may vary between various portions of the City, efforts to develop the City will be enhanced and their success will depend upon a unified, consistent, and broad-based approach which is unrelated to the respective boundary lines which currently exist for the Development Districts. In particular, the Board believes that it is important to have the flexibility to use tax increment and other resources generated within any of the Development Districts for the preservation and enhancement of any and all portions of the entire Project Area, all as may be permitted by applicable law. Accordingly, it is the EDA's purpose, consistent with the stated purposes of the Council, to consolidate and amplify the City's development areas, goals, objectives, development costs, and activities to the fullest extent permitted by the Enabling Act, the Tax Increment Act and other • applicable law, and the Board hereby finds that through such consolidation the necessary development of the City can be accomplished more consistently, efficiently, and economically. Pursuant to Section 469.094, Subdivision 2, of the Enabling Act, the EDA is authorized to exercise the powers of a city with respect to a development district under Minnesota Statutes, Sections 469.124 through 469.134, and the powers of a housing and redevelopment authority under Minnesota Statutes, Sections 469.001 through 469.047, among other powers, and it is the intention of the Council and the Board that the EDA shall have and be empowered to exercise any and all of said powers as may be necessary or appropriate for the development of the Project in accordance with the Project Plan. The Development Districts, the Development Programs, and the Tax Increment Districts and Plans are hereby incorporated herein to the same extent as if set forth in full herein. Section 1.3. Enlargement and Consolidation of the Development Districts; Designation as Mounds View Economic Development Project. Each of the Development Districts is hereby enlarged to include the area of each of the other Development Districts, and said consolidated and enlarged composite area is hereby designated as the Mounds View Economic Development Project (the "Project"). •