HomeMy WebLinkAboutCC RES 95-041 RESOLUTION APPROVING MASTER MODIFICATION TO REDEVELOPMENT PLANS AND TAX INCREMENT FINANCING PLANS AND MAKING FINDINGS WITH RESPECT THERETO Meeting Sheet
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103372
Box: 26
Folder: RES 1995
Document: CC RES 95-041 RESOLUTION APPROVING MASTER
MODIFICATION TO REDEVELOPMENT PLANS AND TAX INCREMENT
FINANCING PLANS AND MAKING FINDINGS WITH RESPECT THERETO
RESOLUTION NO. 9 5-0 41
RESOLUTION APPROVING MASTER MODIFICATION
TO REDEVELOPMENT PLANS AND TAX INCREMENT
FINANCING PLANS 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 the City of St. Anthony, Minnesota (the "HRA") and the City of St. Anthony,
Minnesota (the "City"), have previously approved Kenzie Terrace Redevelopment
Plan, Chandler Place Redevelopment Plan, Highway Eight Redevelopment Plan,
Redevelopment Plan for Redevelopment Project No. 2 and Redevelopment Plan for
Redevelopment Project No. 3, together with certain amendments thereto (the
"Redevelopment Plans") and redevelopment projects (the "Redevelopment
Projects") 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
certain of the Redevelopment Plans and Redevelopment Projects, the HRA and the
City have approved Tax Increment Financing Plans (the "Financing Plans"), which
establish two tax increment financing districts which are designated by the HRA as
• follows: Kenzie Terrace Tax Increment District (Hennepin County No. 1950) and
Chandler Place Tax Increment District (Ramsey County No. 58) (the "Districts"). The
Board of Commissioners of the HRA has approved an amendment to the
Redevelopment Plans and the Financing Plans which is entitled "Master
Modification to Redevelopment Plans and Tax Increment Financing Plans" (the
"Master Modification"). The Master Modification combines the areas'subject to the
Redevelopment Plans and expands the area subject to the Redevelopment Plans and
authorizes the expenditure of tax increment revenues derived from the Districts to
pay public redevelopment costs in the additional area made subject to the
Redevelopment Plans by the Master Modification and costs related to construction
of a community center designed to serve residents of the City.
2. This Council on June 27, 1995, held a public hearing on the Master
Modification 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 Master
Modification were given an opportunity to express their views with respect thereto.
3. This Council has previously found that the Kenzie Terrace Tax
Increment District is a redevelopment district within the scope of Minnesota
Statutes, Section 469.174, subdivision 10, and that the Chandler Place Tax Increment
District is a housing district within the scope of Minnesota Statutes Section 469.174,
• subdivision 11, and the Master Modification will not change such prior findings.
The Master Modification further serves the original goals and purposes of the City
• and HRA in approving the Redevelopment Plans, the Redevelopment Projects and
the Financing Plans, by developing property in the City and by providing needed
facilities which will be of benefit to all residents of the City, including those residing
in the area subject to the Redevelopment Plans, prior to the inclusion of the
additional property by the Master Modification.
4. Pursuant to Minnesota Statutes, Section 469.175, subdivision 4, it is
hereby found that:
(A) Kenzie Terrace Tax Increment District, is a
redevelopment district, as defined in Minnesota Statutes,
Section 469.174, subdivision 10, and Chandler Place Tax
Increment District is a housing district, as defined in
Minnesota Statutes, Section 469.174, subdivision 11, for
the reasons set forth in previous findings by this Council,
and the Master Modification does not alter these previous
findings.
(B) The proposed development to be undertaken in
accordance with the Redevelopment Plans, as amended by
the Master Modification, 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 Plans, as amended by the Master
Modification, conforms to the general plan for the
development of the City as a whole.
(D) The Financing Plans, as amended by the Master
Modification, will afford maximum opportunity
consistent with the sound needs of'the City as a whole for
the development of the area subject to Redevelopment
Plans by private enterprise.
(E) The City confirms its election of the method of
tax increment computation set forth in Minnesota
Statutes, Section 469.177, subdivision 3, clause (a) with
respect to each of the Districts.
•
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1, .
Passed by the Council this 27th day of June, 1995.
Mayor
Attest:
City Clerk
Reviewed for Administration:
City Manager
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