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1998.07.20 RESO 1998-0024
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1998.07.20 RESO 1998-0024
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City Council
Document Type
Resolutions
Meeting Date
7/20/1998
Meeting Type
Regular
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There is a need for development and redevelopment within the Project Area which will result <br />in an increase in employment opportunities for residents of the City, an increase in the value of <br />property subject to taxation by the City and other local government units and an increase in <br />general economic activity in the City, all of which will reduce unemployment, prevent chronic <br />unemployment, improve living standards, promote desirable development of land which is <br />presently unused at a cost reasonably related to the public purpose to be served without major <br />clearance and with full consideration of the preservation of beneficial aspects of the urban and <br />natural environment, prevent the emergence of blighted property and areas, prevent the loss of <br />skilled and unskilled labor and other human resources, and encourage and enhance the general <br />health and welfare of the residents of the City. The actions herein purposed to be taken by the <br />Authority pursuant to the Plan are necessary to secure the development of the property <br />included in the Project Area at this time and in a manner which will best meet those needs. <br />C. Statement of Authority <br />The EDA exercises the powers granted under Minnesota Statutes, Sections 469.001-469.047 <br />(Housing and Redevelopment Authority Act) which grants municipalities the authority to <br />designate redevelopment areas within the boundaries of the municipalities. Within these <br />areas, the municipality may adopt a redevelopment plan and establish a project consistent with <br />the municipality's public purpose. The Project as contemplated by this Plan consists of a <br />redevelopment project as defined in Section 469.001, Subdivision 14. The lease with option <br />to purchase agreement is authorized under Minnesota Statutes, Section 465.71. <br />D. Findings and Declaration <br />The City and the EDA make the following findings: <br />I . The certain parcels of land in the project area would not be made available for <br />redevelopment without some public financial aid. <br />2. The redevelopment plans for the Redevelopment Area in the City will afford maximum <br />opportunity consistent with the needs of the locality as a whole, for the redevelopment <br />of the area by private enterprise. <br />3. The Redevelopment Plan conforms to the general plan for development of the locality as <br />a whole. <br />E. Redevelopment Area Boundaries <br />The boundaries of the Redevelopment Area are coterminous with the boundaries of the City's <br />Tax Increment Financing District No. 1-1. The parcels included in the Redevelopment Area <br />appear in Exhibit A. All land included in the Project Area is within the legal boundaries of the <br />City. <br />Redevelopment Plan For Redevelopment Project Area No.1 Page 2 <br />
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