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HomeMy WebLinkAboutCC RES 06-069 RESOLUTION ADOPTING A MODIFICATION TO THE REDEVELOPMENT PLAN FOR REDEVELOPMENT PROJECT AREA NO. 3 AND SOPTING A MODIFICATION TO THE TAX INCREMEMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRCIT NO. 2 THEREIN Meeting Sheet IIIIII VIII VIII VIII VIII VIII IIII IIII 104247 Box: 31 Folder: RES 2006 Document: CC RES 06-069 RESOLUTION ADOPTING A MODIFICATION TO THE REDEVELOPMENT PLAN FOR REDEVELOPMENT PROJECT AREA NO. 3 AND SOPTING A MODIFICATION TO THE TAX INCREMEMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRCIT NO. 2 THEREIN CITY OF ST.ANTHONY • HENNEPIN AND RAMSEY COUNTIES STATE OF MINNESOTA Council member G1 introduced the following resolution and moved its adoption: RESOLUTION NO.06-069 RESOLUTION ADOPTING A MODIFICATION TO THE REDEVELOPMENT PLAN FOR REDEVELOPMENT PROJECT AREA NO. 3 AND ADOPTING A MODIFICATION TO THE TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO.3THEREIN. BE IT RESOLVED by the City Council (the "Council") of the City of St. Anthony, Minnesota (the"City"),as follows: Section 1. Recitals. 1.01. The Board of Commissioners (the "Board") of the Housing and Redevelopment Authority of St. Anthony (the "HRA") has heretofore established Redevelopment Project Area No. 3 and adopted the Redevelopment Plan therefor and Tax Increment Financing District No. 3 and adopted the Tax Increment Financing Plan therefor. It has been proposed that the City adopt a Modification to the Redevelopment Plan (the "Redevelopment Plan Modification") for Redevelopment Project Area No. 3 and adopt a Modification to the Tax Increment Financing Plan(the "Tax Increment Plan Modification" or • together with the Redevelopment Plan Modification, the "Modifications") for Tax Increment Financing District No. 3 (the "District"), all pursuant to and in conformity with applicable law, including Minnesota Statutes, Sections 469.001 to 469.047, and Sections 469.174 to 469.1799, inclusive as amended (the "Act"),all as reflected in the Modifications,and presented for the Council's consideration. 1.02. The Council has investigated the facts related to the Modifications and has caused the Modifications to be prepared. 1.03. The City has performed all actions required by law to be performed prior to the adoption and approval of the proposed Modifications, including,but not limited to,notification of Ramsey County and Independent School District No. 282 having taxing jurisdiction over the property included in the District,and the holding of a public hearing upon published notice as required by law. 1.04. The City is not modifying the boundary nor term of the District. Section 2. Findings for the Tax Increment Plan Modification 2.01. The Council hereby reaffirms the original findings for the District, namely that when Tax Increment Financing District No. 3 was established,it was established as a"redevelopment district"under Minnesota Statutes, Section 469.174, subd. 10(a)(1). In addition,the City makes the following findings: (a) The Tax Increment Plan Modification conforms to the general plan for development or • redevelopment of the City as a whole. The reason for supporting this finding is that the Tax Increment Plan Modification will generally complement and serve to implement policies adopted in the City's comprehensive plan. (b) The Tax Increment Plan Modification will afford maximum opportunity, consistent with the sound • needs of the City as a whole, for the development or redevelopment of Redevelopment Project Area No. 3. The reason for supporting this finding is that the development activities are necessary so that development and redevelopment by private enterprise can occur within Redevelopment Project Area No. 3. (c) The Tax Increment Plan Modification provides budgetary authority to utilize increased tax increment and to modify the budget to reflect actual project activity and to bring it into compliance with the State Auditor budget requirements. Section 3. Public Purpose 3.01. The adoption of the Modifications conform in all respects to the requirements of the Act and will help fulfill a need to develop an area of the State which is already built up, to provide employment opportunities,to diversify the housing stock for the community,to improve the tax base and to improve the general economy of the State and thereby serves a public purpose. Section 4. Approval and Adoption of the Modifications; Filing, 4.01. The Modifications are hereby approved, and shall be placed on file in the office of the City Clerk. Approval of the Modifications does not constitute approval of any project or a development agreement with any developer. 4.02. The staff of the City are authorized to file the Modifications with the Minnesota Department of Revenue and Office of the State Auditor pursuant to Minnesota Statutes 469.175, Subd. 4a. • 4.03. The staff of the City, the City's advisors and legal counsel are authorized and directed to proceed with the implementation of the Modifications and for this purpose to negotiate, draft,prepare and present to this Council for its consideration all further modifications,resolutions, documents and contracts necessary for this purpose. The motion for the adoption of the foregoing resolution was duly seconded by Council member L and upon a vote being taken thereon,the following voted in favor thereof- and hereofand the following voted against the same: Dated: August 22,2006 ATTEST: i Mayo City Clerk (Seal) •