HomeMy WebLinkAboutCC RES 95-042 RESOLUTION APPROVING 1995 AMENDMENT TO REDEVELOPMENT PLANS FOR REDEVELOPMENT PROJECT NO. 2 ( RAMSEY COUNTY) AND THE TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 2 Meeting Sheet
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103373
Box: 26
Folder: RES 1995
Document: CC RES 95-042 RESOLUTION APPROVING 1995
AMENDMENT TO REDEVELOPMENT PLANS FOR REDEVELOPMENT
PROJECT NO. 2 ( RAMSEY COUNTY) AND THE TAX INCREMENT
FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 2
RESOLUTION 95-042
RESOLUTION APPROVING 1995 AMENDMENT TO
REDEVELOPMENT PLAN FOR REDEVELOPMENT
PROJECT NO. 2 (RAMSEY COUNTY) AND THE TAX
INCREMENT FINANCING PLAN FOR TAX
INCREMENT FINANCING DISTRICT NO. 2
BE IT RESOLVED, by the City Council of the City of St. Anthony,
Minnesota (the "City"), as follows:
1. Proposed Amendments. The Housing and Redevelopment
Authority of St. Anthony, Minnesota (the "HRA") and the City have approved a
redevelopment plan, as defined in Minnesota Statutes, Section 469.002, subdivision
16, designated as the Redevelopment Plan for Redevelopment Project No. 2
(Ramsey County) (the "Redevelopment Plan"), and a redevelopment project to be
undertaken pursuant thereto, as defined in Minnesota Statutes, Section 469.002,
subdivision 14 (the "Redevelopment Project"). In order to finance the public
redevelopment costs to be incurred by the HRA and the City in connection with the
Redevelopment Plan and the Redevelopment Project, the HRA and the City have
approved 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"). In connection with the development of additional property in the
District, the HRA has approved an amendment to the Redevelopment Plan and
Financing Plan (the "Amendment") and has requested that the City approve the
Amendment. The Amendment is described in the document entitled "1995
Amendment to Redevelopment Plan for Redevelopment Project No.2 (Ramsey
County)" and has been presented to this Council.
2. Public Hearing. This Council on June 27, 1995, held a public hearing
on the Amendment 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
Amendments were given an opportunity to express their views with respect
thereto.
3. Approval of Amendment. This Council has previously found that
the District is a soils condition district within the scope of the Act, and the
Amendment will not change such prior finding. The Amendment further serves
the original goals and purposes of the City and HRA in approving the
Redevelopment Plan, the Redevelopment Project and the Financing Plan, by
assisting in the development and redevelopment of the area included in the
Redevelopment Plan.
N 4. Findings Under the Act. Pursuant to Minnesota Statutes, Section
469.175, subdivision 4, it is hereby found that:
(A) The District is a soils condition district as defined
in the Act for the reasons set forth in previous findings by
this Council, and the Amendment does not alter these
previous findings.
(B) The proposed development or redevelopment in
the area subject to the Redevelopment Plan, in the
opinion of the City, would not reasonably be expected to
occur solely through private investment in the reasonably
foreseeable future and therefore the use of tax increment
financing is deemed necessary.
(C) The Financing Plan, as amended by the
Amendment, conforms to the general plan for the
development of the City as a whole.
(D) The Financing Plan, as amended by the
Amendment, 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.
(E) The City confirms its election of the mehtod of tax
increment computation set forth in Minnesota Statutes, Section
469.177, subdivision 3, clause (a) with respect to the District.
Passed by the Council this 27th day of June, 1995.
Mayor
Attest:
City Clerk
Reviewed for Administration:
City Manager
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