HomeMy WebLinkAboutResolution 05-EDA208B
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MOU\DS VIEW ECONOIVIIC DEVELOPMENT AUTHORITY
CITY OF MOlJ~DS VIEW
COrNTY OF RA~\'ISE\'
STATE OF )H:"oINESOTA
RESOLUTION NO. 05-EDA-208B
RESOIXTION ADOPTING A l\lOnIFICATlON TO THE PROJECT IJLAI\ FOR
THE MOlNDS VIEW ECONOl\UC DEVELOPI\'IENT PROJECT,
ESTABLISHING TAX INCRE)lENT FINA:"oICING DISTRICT NO.5 THEREIN
AND ADOPTING A TAX INCRE\IEl\T FINAI\CI:"oIG IJLAN THEREFOR.
WHEREAS, it has been proposed by the Board of Commissioners (the "Board") of the Mounds
View Economic Development Authority (the "LOA") 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 establish Tax Increment Financing District No.5 and adopt a Tax
Increment Financing Plan (the "TIF Plan") therefor (the Project Plan Modirication and the TIF Plan are
rdcrred to col1ectively 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"), al1 as reflected in the Plans and presented for the Board's consideration:
and
WHEREAS, the LDA 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 review the Plans
and that the Council schedule a public hearing on the Plans upon published notice as requircd by lmv.
NOW. THEREFORE, BE IT RESOLVED by the Board as follO\vs:
1. The I~DA hereby finds that Tax Incremcnt Financing District No. 5 is in the public
interest and is an "economic development district" under the 2005 Laws or Minnesota. Chaptcr 152,
Article 2, Section 26 (H.F No. 2498) (the "Special Legislation"), and finds that the Plans conform in all
respects to the requirements of the Act and will help fulfill a need to develop an area of the Statc of
Minnesota which is underutilized and that the adoption of the proposed Plans \vill help provide
cmployment opportunities in the State and will result in the prcservation and enhancement of the tax basc
of the City and the State bceause it will diseouragc commerce and industry from moving their opcrations
to another state or municipality and thereby serves a public purpose.
2. Thc EDA further finds that the Plans 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 providc only that public assistance necessary to make the private
devclopments tinancial1y feasible.
3. The EDA has rcviewed the TIF Plan for the proposed Tax Increment Financing District
NO.5 and supports the follO\ving parcels. adjacent rights-of-way. and abutting roadways be included in
thc proposed district:
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05-30-23-13-0001
05-30-23-21-0005
05-30-23-21-0006
05-30-23-24-0059
05-30-23-24-0060
4. Conditioned upon the approval thereof by the City Council following its public hearing
thereon, the Plans, as presented to the EDA on this date, are hereby approved, established and adopted
and shall be placed on file in the onice of the City Administrator.
5. Upon approval of the Plans by the City Council, the staff. the EDA's advisors and legal
counsel arc authorized and directed to proceed with the implementation of the Plans and for this purpose
to negotiate, draft. prepare and present to this Board for its consideration all further plans, resolutions,
documents and contracts necessary for this purpose. Approval of the Plans does not constitute approval
of any project or a Development Agreement with any developer.
6. Upon approval of the Plans by the City Council. the City Administrator is authorized and
directed to forward a copy of the Plans to the Minnesota Department of Revenue and the Office of the
State Auditor pursuant to Minnesota Statutes 469.175, Subd. 4a.
7. The City Administrator is authorized and directed to forward a copy of the Plans to the
Ramsey County Auditor and request that the Auditor certify the original tax capacity of the Dish'ict as
described in the Plans. all in accordance with Minnesota Statutes 469.177.
Approved by the Board of Commissioners of the Mounds View Economic Development
Authority this 22"u day of August. 2005.
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Q~~.~~dt
I' President .
ATTl:ST:
/~~'CL~Q
Executive Director