CC PACKET 08222000 - Laserfiche WebLink

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12 • provides for additional redevelopment activities to be undertaken by the City and HRA pursuant to the Redevelopment Project. In order to finance the public redevelopment costs to be incurred by the HRA in connection with the Redevelopment Plan and Redevelopment Project, it has been further proposed that the HRA approve a tax increment financing plan,pursuant to the provisions of Minnesota Statutes, Section 469.175, designated as Tax Increment Plan for Tax Increment Financing District No. 5- Ramsey County(the "Financing Plan"), which establishes a tax increment financing district, as defined in . Minnesota Statutes, Section 469.174, subdivision 9, to be designated as Tax Increment Financing District No. 5-Ramsey County(the "District"). 2. The 2000-1 Amendment, the Financing Plan and the District are described in the attached documents entitled"2000-1 Amendment to Redevelopment Plan For Redevelopment Project No. 3-Ramsey County and Tax Increment Plan for Tax Increment Financing District No. 5- Ramsey County," and the Redevelopment Project described in the Redevelopment Plan are hereby approved. The Executive Director is further authorized and directed to request the appropriate authorities of Ramsey County to certify the original net tax capacity of the District pursuant to Minnesota Statutes, Section 469.177 following approval of the Financing Plan and District by the St. Anthony City Council in accordance with Minnesota Statutes, Section 469.175, subdivision 3. 3. The HRA finds that the District is a redevelopment district within the scope of Minnesota Statutes, Section 469.174, subdivision 10, on the basis that there is reasonably distributed throughout the District the following conditions:- (i) parcels consisting of 70% of the area in the District are occupied by buildings, streets, utilities or other improvements and (ii) more than 50% of the buildings (not including outbuildings) are structurally substandard to a degree requiring substantial renovation or clearance. In making this determination the HRA has reviewed and is relying on the report of Tom Goodoien, Consulting, included in the 2000-1 Amendment and Financing Plan, and information otherwise available to the HRA. 4. The 2000-1 Amendment was transmitted to the St. Anthony Planning Commission (the"Commission") for its review and opinion. The Commission delivered to the HRA its written opinion on the 2000-1 Amendment. 5. The 2000-1 Amendment, the Financing.Plan and the District, together with written opinion of the Commission, shall be presented to the City.Council for a public hearing on the 2000-1 Amendment pursuant to Minnesota Statutes, Section 469.028, subdivision 1.and the Financing Plan pursuant to Minnesota Statutes, Section 469.175, subdivision 3. Dated the 22°d day of August,2000. Chairman Attest: Executive Director -2-