RES 85-016 REOSLUTION TO DESIGNATE AND ESTABLISH A REDEVELOPMENT/HOUSING DISTRICT NO. 2 PURSUANT TO THE PROVISIONS OF SECTION 462 OF THE MINNESOTA STATUTES AND ESTABLISH A TAX INCREMENT DISTRICT PURSUANT TO THE PROVISIONS OF SECTION 273.1 TO 273.78 INCLUS

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WHEREAS, the-.tax-increment financing plan will afford maximum opportunity consistent • with the sound needs of the municipality a's a whole for the redevelopment of the district by private enterprise; and WHEREAS, the tax increment- financing plan- conforms to the general plan for .the redevelopment- of the Old Highway Eight Redevelopment area and municipality as a whole; . and WHEREAS, the City Council of the City of St. Anthony, Minnesota_, finds that the proposed tax increment financing district is a housing or redevelopment district; NOW, THEREFORE, BE IT RESOLVED by the City Council of the.:.,City of St. Anthony, does hereby designate and establish Redevelopment District Number 2 and Housing District Number 2 and a tax increment district, adopts, a Finance Plan .and Develop- ment Program for said tax increment housing/redevelopment district and finds: 1 . That the project comprising the proposed tax increment financing district is a redevelopment project and/or housing project intended for the purpose of: Ca). housing project, providing occupancy, in part, by persons or families of low and moderate income .as defined in Chapter 462A, Title II of the National Housing Act of 1934, the National Housing Act of 1959, the United States Housing Act of 1937, as amended, Title V of the Housi.ng Act of 1949, as amended, any other .similar present or future Federal , ..-State or Municipal legislation, or t-he regulations promulgated-under any of these acts. Cb) a redevelopment project, for the reason the land within this district is • predominantly occupied by buildings, streets, 'uti'lities, or-..other- improve- ments and where 20% of_the buildings have been found to be structurally substandard and where an additional 30% of the buildings have been found to require substantial renovation or clearance in order to remove such existing conditions as: inadequate street layout; incompatible uses of land or land use relationships; overcrowding. of buildings on the land; obsolete buildings not suitable for improvement or conversion; and other identified hazards to the health, safety and general well-,=being of the community as a whole. 2. That the proposed redevelopment, in the opinion of the City of St. Anthony City Council would not occur solely through private investment within the reasonable foreseeable.future and, therefore, the use of tax increment financing is deemed necessary; 3. That the tax increment financing plan conforms to the general plan for the development or redevelopment of the municipality as a whole; 4. That the tax increment financing plan will afford maximum opportunity consistent with the sound needs of the City of St. Anthony as a whole for the development of the district by private enterprise; 5. That the City of St. Anthony elects the method of tax increment computation set forth in Section 6, Subdivision 3, Clause B. AND, FURTHERMORE, that .the City Council approves .the tax increment financing plan.