HomeMy WebLinkAboutCC RES 92-022 RESOLUTION APPROVING 1992 AMENDMENTS TO THE KENZIE TERRACE REDEVELOPMENT PLAN AND THE KENZIE TERRACE TAX INCREMENT FINANCING PLAN AND MAKING FINDINGS WITH RESPECT THEREFOR Meeting Sheet
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103559
Box: 26
Folder: RES 1992
Document: CC RES 92-022 RESOLUTION APPROVING 1992
AMENDMENTS TO THE KENZIE TERRACE REDEVELOPMENT PLAN AND
THE KENZIE TERRACE TAX INCREMENT FINANCING PLAN AND MAKING
FINDINGS WITH RESPECT THEREFOR
• CERTIFICATE
001-1
CITY OF ST. ANTHONY a��
I, the undersigned being the duly qualified City Clerk of the City of St.
Anthony, Minnesota, hereby attest and certify that:
1. As such officer, I have the legal custody of the original record from
which the attached resolution was transcribed.
2. I have carefully compared the attached resolution with the original
record of the meeting at which the resolution was acted upon.
3. I find the attached resolution to be a true, correct and complete copy
of the original:
RESOLUTION NO. 92- 0 2 2
Resolution Approving 1992 Amendments to the Kenzie
Terrace Redevelopment Plan and the Kenzie Terrace Tax
• Increment Financing Plan and Making Findings With
Respect Thereto
4. I further certify that the affirmative vote on said resolution was ayes,
nayes, and absent/ abstention.
5. Said meeting was duly held, pursuant to call and notice thereof, as
required by law, and a quorum was present.
WITNESS my hand officially as such Clerk and the seal of said City,
this day of 4n^', 1 , 1992.
Connie Kroeplin, City Clerk
(SEAL)
- r z
• RESOLUTION NO. 9 2=0 2 2
RESOLUTION APPROVING 1992 AMENDMENTS TO
THE KENZIE TERRACE REDEVELOPMENT PLAN AND
THE KENZIE TERRACE TAX INCREMENT FINANCING
PLAN AND MAKING FINDINGS WITH RESPECT
THERETO
BE IT RESOLVED by the City Council of the City of St. Anthony,
Minnesota as follows:
1. The Commissioners of the Housing and Redevelopment Authority
of St. Anthony, Minnesota (the "HRA") and the City of St. Anthony, Minnesota (the
"City"), have previously approved the Kenzie Terrace Redevelopment Plan (the
"Redevelopment Plan") and the Kenzie Terrace Redevelopment Project (the
"Redevelopment Project") to be undertaken pursuant thereto, and in order to
finance the public redevelopment costs to be incurred by the City and the HRA in
connection with the Redevelopment Plan and the Redevelopment Project, the HRA
and the City have approved the Kenzie Terrace Tax Increment Financing Plan (the
"Financing Plan"), which establishes the Kenzie Terrace Tax Increment Financing
District (the "District"). The Board of Commissioners of the HRA has approved
amendments to the Redevelopment Plan and the Financing Plan which is entitled
• "1992 Amendments to the Kenzie Terrace Redevelopment Plan and the Kenzie
Terrace Tax Increment Financing Plan" (the "1992 Amendments"). The 1992
Amendments establish an interest reduction program (the "Interest Reduction
Program"), as defined in Minnesota Statutes, Section 469.012, subdivision 7, to
benefit property developed as part of the Redevelopment Project and authorizes the
expenditure of tax increment revenues derived from the District to pay the costs of
the Interest Reduction Program.
2. This Council on March 24, 1992, held a public hearing on the 1992
Amendments after notice of the public hearing was published in the official
newspaper of the City not less than ten (10) days prior to the date of the hearing. At
such public hearing all persons desiring to be heard with respect to the 1992
Amendments were given an opportunity to express their views with respect
thereto.
3. This Council has previously found that the District is a housing
district and redevelopment district within the scope of the Minnesota Tax
Increment Financing Act (the "Act"), and the 1992 Amendments will not change
such prior finding. The 1992 Amendments further serve the original goals and
purposes of the City and HRA in approving the Redevelopment Plan, the
Redevelopment Project and the Financing Plan, by providing affordable rental
housing for persons of low and moderate income.
•
4. Pursuant to Minnesota Statutes, Section 469.175, subdivision 4, it is
• hereby found that:
(A) The District, is a housing district and
redevelopment district as defined in the Act for the
reasons set forth in previous findings by this Council, and
the 1992 Amendments do not alter these previous
findings.
(B) The use of tax increment financing is deemed
necessary to ensure developments in the District carry out
the objectives of the HRA and the City in undertaking the
Redevelopment Plan and Redevelopment Project.
(C) The Financing Plan, as amended by the 1992
Amendments, conforms to the general plan for the
development of the City as a whole.
(D) The Financing Plan, as amended by the 1992
Amendments, will afford maximum opportunity
consistent with the sound needs of the City as a whole for
the development of the area subject to the
• Redevelopment Plan by private enterprise.
Passed by the Council this -�day of April, 1992.
Mayor
Attest:
City derkJ
Reviewed for administration:
City Manager
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