HomeMy WebLinkAboutResolution 94-EDA-03
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MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY
COUNTY OF RAMSEY
STATE OF MINNESOTA
RESOLUTION NO. _94~
RESOLUTION APPROVING ECONOMIC DEVELOPMENT PROJECT
AND TAX INCREMENT FINANCING AMENDMENTS
BE IT RESOLVED by the Board of Commissioners (the "Board")
of the Mounds View Economic Development Authority (the "EDA") as
follows:
section 1. Recitals.
1.01. It has been proposed that the EDA enlarge its
Development District Nos. 1, 2 and 3 (the "Development
Districts") in order to integrate and make coterminous their
boundaries and areas; designate said integrated areas as the
Mounds View Economic Development Project; amend the respective
Development Programs for the Development Districts to integrate
and expand their goals, objectives, activities, and budgets into
a single plan for the development and redevelopment of the
consolidated project areas; designate said consolidated
development program as the Project Plan; and amend the tax
increment financing plans for the tax increment financing
districts heretofore established within the Development
Districts, respectively, to reflect increased development goals,
activities, expenses and bonded indebtedness; all pursuant to
Minnesota Statutes, sections 469.001 through 469.047, 469.090
through 469.108, 469.124 through 469.134, and 469.174 through
469.179, respectively (collectively, the "Plans"), and all as
reflected in that certain document entitled in part "Mounds View
Economic Development Project of the Mounds View Economic
Development Authority," dated May 9, 1994, and presented for the
Board's consideration.
1.02. The Board has investigated the facts relating to the
Plans and has caused the Plans to be prepared.
1.03. The EDA has performed all actions required by law to
be performed prior to the adoption and approval of the Plans and
has also requested that the Mounds View City Council hold a
public hearing on and thereafter consider approving the Plans.
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Section 2. Findinqs for the Adoption and Approval of the
Plans.
2.01. The Board hereby finds that the Plans are in the
public interest and that the proposed development 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, for the
development of the Mounds View Economic Development Project by
private enterprise.
2.02. The Board further finds that the Plans are intended
and, in the judgment of the Board, their effect will be, to
promote the public purposes and accomplish the objectives
specified in the tax increment financing plans and the Project
Plan for the Mounds View Economic Development Project.
section 3. Approval and Adoption of the Plans.
3.01. The Plans, as presented to the Board on this date,
are hereby approved, established, and adopted; provided that the
foregoing approval is conditioned upon approval thereof by the
City Council following its public hearing thereon.
Adopted by the Board of Commissioners of the Mounds View
Economic Development Authority on May 9, 1994.
Commissioner moved the adoption of the
foregoing resolution, which motion was duly seconded by
Commissioner , and upon vote being taken
thereon, the following voted in favor thereof:
and the following voted against the same:
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section 2. Findinqs for the Adoption and Approval of the
Plans.
2.01. The Council hereby finds that the Plans are in the
public interest and that the proposed development 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 because the anticipated development is in furtherance of
long range plans of the City for the development areas; and that
the Plans will afford maximum opportunity, consistent with the
sound needs of the City as a whole, for the development of the
Mounds View Economic Development Project by private enterprise
because they will enable the EDA to provide and finance suitable
and necessary public inducements.
2.02. The Council further finds that the Plans are intended
and, in the judgment of this Council, their effect will be, to
promote the public purposes and accomplish the objectives
specified in the tax increment financing plans and the Project
Plan for the Mounds View Economic Development Project, which are
all consistent with the efforts already made for the development
of the subject areas.
2.03. The bases, reasons and justifications for the
findings made in the Plans and this Resolution include the nature
and location of the various properties to be improved, the
deficiencies respecting those properties, and the development and
redevelopment needs of the city, all of which necessitate tax
increment and related public assistance in order to facilitate
the desired improvements.
section 3. Approval and Adoption of the Plans.
3.01. The Plans, as presented to the Council on this date,
including without limitation the findings and statements of
objectives contained therein, are hereby approved, ratified,
established, and adopted and shall be placed on file in the
office of the City Clerk-Administrator.
Adopted on May 9, 1994, by the Mounds View City Council.
Councilmember moved the adoption of the
foregoing resolution, the reading of which was dispensed with by
unanimous consent of the Council, and said motion was duly
seconded by Councilmember , and upon vote
being taken thereon, the following voted in favor thereof:
and the following voted against the same:
whereupon said resolution was declared duly adopted.
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