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HomeMy WebLinkAboutRES 89-026 RESOLUTION APPROVING REDEVELOPMENT PLAN FOR REDEVELOPMENT PROJECT AREA NO. 2 RAMSEY COUNTY AND THE REDEVLOPMENT PROJECT TO BE UNDERTAKEN PURSUANT THERETO AND TAX INCREMENT FINANCING DISTRCIT NO. 2 RAMSEY COUNTY, AND MAKING FINDINGS WITH RESPECT Meeting Sheet IIIIIIVIIIVIIIVIIIVIIIVIIIIIIIIIII 102291 Box: 23 Folder: RES 1989 Document: RES 89-026 RESOLUTION APPROVING REDEVELOPMENT PLAN-FOR REDEVELOPMENT PROJECT AREA NO. 2 RAMSEY COUNTY AND THE REDEVLOPMENT PROJECT TO BE UNDERTAKEN-PURSUANT --- -- -THERETOANDTAX INCREMENT FINANCING DISTRCIT NO. 2 RAMSEY COUNTY, AND MAKING FINDINGS WITH RESPECT • Member Marks introduced the following resolution and moved its adopted: - ehJ RESOLUTION NO. 89-026 RESOLUTION APPROVING REDEVELOPMENT PLAN FOR REDEVELOPMENT PROJECT AREA NO. 2 �a%z RAMSEY COUNTY AND THE REDEVELOPMENT PROJECT TO BE UNDERTAKEN PURSUANT THERETO AND /D TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 2 RAMSEY COUNTY, AND MAKING FINDINGS WITH RESPECT THERETO BE IT RESOLVED by the City Council of the City of St . Anthony, Minnesota as follows : 1 . The Housing and Redevelopment Authority in and for the City of St . Anthony ( the HRA) has approved a. redevelopment plan, as defined in Minnesota Statutes, Section 469 . 002 , subdivision 16 , designated as Redevelopment Plan for Redevelopment Project Area No. 2 Ramsey County (the Redevelopment Plan ) , and a redevelopment project, as defined • in Minnesota Statutes, Section 469 . 002 , subdivision 14 , to be undertaken pursuant thereto, designated as Redevelopment Project No. 2 Ramsey County (the Redevelopment Project) , and in. order to finance the public redevelopment costs to be incurred by the HRA in connection with the Redevelopment Plan and Redevelopment Project, the HRA has approved a tax increment financing plan, pursuant to Minnesota Statutes, Section 469 . 175, designated as Tax Increment Financing Plan for Tax Increment Financing District No. 2 Ramsey County ( the Financing Plan) which establishes a tax increment financing district, as defined in Minnesota Statutes, Section 469 . 174 , subdivision 9 , designated as Tax Increment Financing District No.- 2 Ramsey County (the District ) . The HRA has requested that this Council approve the Redevelopment Plan, Redevelopment Project and Financing Plan following a public hearing thereon . The HRA has approved a Redevelopment Agreement for the Evergreen Townhomes Project (the Redevelopment Agreement) between the HRA and Nedegaard Construction Company, Inc . , a Minnesota . corporation (the Developer) for the development of the land included in the Redevelopment Plan area and district, which Redevelopment Agreement provides recourse to the HRA if the townhouse project required to be constructed by the Developer is not completed. The HRA has furnished to this Council a copy of the Redevelopment Plan and Financing Plan and the written opinion of the City Planning Commission as to the Redevelopment Plan, the Redevelopment Project and the Financing Plan, and on August 23 , 1988 , held a public hearing on the same after notice of the public hearing was published in the official newspaper of the City, not less than 10 days prior to the date of the hearing. All persons desiring to be heard were heard. 2 . The Redevelopment Plan, Redevelopment Project, Financing Plan and establishment of the District are hereby approved. 3 . This Council finds that the District is a soils condition district within the scope of Minnesota Statutes, Section 469 . 174 , subdivision 19 , for the following reasons : ( i ) less than 70% of the parcels in the District are occupied by buildings, streets, utilities or other improvements, ( ii ) due to unusual terrain or soil deficiencies requiring substantial filling, grading or other physical preparation for use at least 80% of the total acreage of land in the District has a fair market value upon inclusion in the District, which when added to the cost of preparing the land for development, excluding costs directly relating to roads as defined in Section 160.01 and local improvements as described in Section 429 . 021, subdivision 1, clauses 1 to 7, 11 and 12 and 430 .01, exceeds its anticipated fair market value after completion of the preparation; and ( iii ) upon the execution and delivery by the HRA and the Developer of the Redevelopment Agreement, • the HRA will have concluded an agreement for the development of at least 50% of the acreage in the District having the unusual soil or terrain deficiencies, which agreement provides recourse to the HRA should the development not be completed. The reasons and supporting facts for this determination are contained in the Redevelopment Plan and Financing Plan which reasons and supporting facts are incorporated herein by reference . 4 . Based upon the reasons and supporting facts set forth in the Redevelopment Plan and Financing Plan, pursuant to Minnesota Statutes, Section 469 .028, it is hereby found that : (A) The land located within the Project area would not be made available for redevelopment without financial aid sought; (B) The Redevelopment Plan for the area within the City included therein will afford maximum opportunity, consistent with the sound needs of the City as a whole, for the redevelopment of such areas by private enterprise; and (C ) The Redevelopment Plan conforms to the general plan for the development of the City as a whole . -2- • 5 . Based upon the reasons and supporting facts set forth in the Redevelopment Plan and Financing Plan, pursuant to Minnesota Statutes, Section 469 . 175 , subdivision 3 , it is hereby found that: (A) For the reasons stated in Section 3 of this Resolution, the District is a Soils Condition District as defined in Minnesota Statutes, Section 469 . 174 , subdivision 19 . (B) The proposed development to be undertaken in accordance with the Redevelopment Plan in the opinion of this Council would not occur solely through private investment within the reasonably foreseeable future and therefor the use of tax increment financing is deemed necessary. (C) The .Financing Plan conforms to the general plan for the development of the City as a whole . • (D) The Financing Plan will afford maximum opportunity consistent with the sound needs of the City as a whole for the development of the District by private enterprise. (E) The City elects the method of tax increment computation set forth in Minnesota Statutes, Section 273 .76 , subdivision 3 , clause ( a) . Passed by the Council this day of 1989 . SPr� Attest : ity C1 -rk • �i,i', !;� City M anag er -3- • The motion for the adoption of the foregoing resolution was duly seconded by Member Makowske , and upon vote being taken thereon, the following voted in favor thereof : Marks, Makowske, Enrooth, Sundland, Ranallo and the following voted against the same: None whereupon said resolution was declared duly passed and adopted, and was signed by the Mayor, whose signature was attested by the City Clerk. • -4-