Agenda Packets - 1995/12/04 - Laserfiche WebLink

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provides the definition of a redevelopment tax increment financing district) , a parcel is deemed to be occupied by structurally substandard buildings for purposes of certain findings and for purposes of later including said parcel or parcels within the redevelopment tax increment district if certain conditions are met . There has been prepared and presented to the Board materials substantiating the substandard nature of the buildings on the Parcel . 3 . Structurally Substandard. The Board hereby determines that the Parcel is now occupied by buildings which are "structurally substandard" within the meaning of Minnesota Statutes, Section 469 . 174, Subdivision 10 (b) , due in part to the dilapidation, partial casualty to and/or abandonment of said buildings or structures and numerous other structural and other defects in said properties . The Board also finds that the Parcel is at least 15% covered with some type of improvement and that none of the main buildings could be modified to satisfy the building code of the City at a cost less than 15% of the cost of constructing a new structure of the same square footage and type . 4 . Tax Increment Intentions. Upon their acquisition by the Authority, the subject buildings are hereby authorized to be demolished and removed by the Authority. Subsequent to such demolition and clearance, it is the present intention of the Authority to include the Parcel within a tax increment financing district, and upon filing the request for certification of such tax increment district (if approved) , the Authority will notify the Ramsey County Director of Property Taxation that the original tax capacity of the Parcel is subject to adjustment, as provided in Minnesota Statutes, Section 469 . 177, Subdivision 1, paragraph (h) . Adopted by the Board of Commissioners of the Mounds View Economic Development Authority on , 199 President ATTEST: Secretary 302612.1 2