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HomeMy WebLinkAbout88-134 - ADMIN Resolution - City Council - 1988/09/191 4 1 RESOLUTION NO. 88-134 ENABLING RESOLUTION ESTABLISHING AN ECONOMIC DEVELOPMENT AUTHORITY FOR THE CITY OF SAINT LOUIS PARK WHEREAS, Minnesota Statutes Sections 469.090 et seq grant local government the authority to establish an Economic Development Authority, for the purpose of conducting various economic development, housing, and redevelopment programs and activities; and, WHEREAS, the City Council has, pursuant to statutory authority, previously established a Housing and Redevelopment Authority ("HRA") to serve the City of Saint Louis Park; and, WHEREAS, the City Council has, pursuant to statutory authority, created Tax Increment Financing District 85-1 in the Highway 7 Development District. WHEREAS, the City Council finds that it is desirable and in the public interest to establish an Economic Development Authority ("EDA") for the City of Saint Louis Park, to advise the City Council regarding economic development, housing, and redevelopment matters, and to exercise certain powers as authorized by the City Council and provided for in this resolution; and, WHEREAS, the City Council further finds it to be in the public interest to have an Economic Development Authority assume certain powers, duties and obligations heretofore held by the Housing and Redevelopment Authority of the City of Saint Louis Park, and to assume authority for Tax Increment Financing District 85-1, and, WHEREAS, the City Council has by Ordinance No. 1763-88 _ allocated -to- -the Eeo n-omi-c-Deve-1 opment Au t tau i t y ce L t din duties, responsibilities, and powers previously held by the HRA; and, WHEREAS, the City Council finds it desirable and in the public interest to grant the EDA, including but not limited to, authority provided in Minnesota Statutes Sections 469.001 to 469.047, 469.090 to 469.108, 468.109 to 469.123, 469.152 to 469.165 and 469.174 to 469.185 to the extent permitted by law. BE IT RESOLVED by the City Council of the City of Saint Louis Park, Minnesota, as follows: Section 1. Definitions. a. "EDA" means the Saint Louis Park Economic Development Authority. b. "City" means the City of Saint Louis Park, Minnesota. c. "Council" means the duly elected governing body of the City. d. "Enabling Resolution" means this resolution of the Council granting certain powers to the EDA. e. "Project" means any housing, housing development program, housing redevelopment program, economic development program, municipal industrial development program, and all real and personal property, assets, cash or other funds held or used in connection with the development, implementation, or operation of a project, including but not limited to projects within the meaning of the term defined in Minnesota Statutes Section 469.174, Subdivision 8. f. "HRA" means the Saint Louis Park Housing and Redevelopment Authority. g "The -Act" means the -provisions-of --Mi-nne-sot-a Statutes Chap. 469 et seq. h. Definition of terms under this Resolution shall include, but not be limited to, definitions in Minnesota Statutes Chapter 469, except as specifically provided otherwise herein. Section 2. Creation of an Economic Development Authority in and f o r the C i t-y-o-f--Sa-i-nt—Lours—P-a-r-k . 2.01. There is hereby created an Economic Development Authority in the City of Saint Louis Park, which may exercise all powers now or hereafter provided by law, within the following limitations: a. The sale of all bonds or obligations issued by the EDA must be approved by the City Council before issuance. - b. All official actions of the EDA must be consistent with the adopted comprehensive plan of the City, and any official controls implementing the Comprehensive Plan. -2- 1 1 2.02. The seven members of the Saint Louis Park City Council shall serve as commissioners of the EDA. A vacancy is created in the membership of the EDA when a city council member serving in the EDA ends council membership. A vacancy for this or another reason must be -filled for the balance of the unexpired term and shall be filled by the person who fills the vacancy on the city council. 2.03. The commissioners of the EDA shall adopt an official seal and elect officers as provided in Minnesota Statutes, Section 469.096, and may adopt by-laws and rules of procedures. 2.04. The City Manager shall serve as Executive Director for the EDA. 2.05. Any action to be taken by the EDA shall require a majority vote (four) of all the commissioners. Section 3. Powers. Except as specifically limited by this Resolution, the EDA shall have authority over housing and redevelopment, economic development, area redevelopment, municipal industrial development, and tax increment financing as may be granted it pursuant to the Act including, in general, but not limited to the following: a. The EDA may create and define the boundaries of economic development districts as authorized by law. b. The EDA may acquire by lease, purchase, gift, devise, or condemnation proceedings the needed right, title, and interest in property to facilitate its purposes. c. The EDA may sign options to purchase, sell, or lease property. d. The EDA may exercise the right of eminent domain under Chapter 117, or under the City's Charter to acquire property it is authorized to acquire by condemnation. e. The EDA may make contracts for the purpose of housing, economic development, redevelopment, municipal industrial development and tax increment financing within the powers given it by law. -3- f. The EDA may be a limited partner in a partnership whose purpose is consistent with the EDA's purpose. g The EDA may acquire rights or an easement for a term of years or perpetually for development of an economic development district. h. The EDA may buy the supplies and materials it needs to carry out its purpose. i. The EDA may accept land, money, or other assistance, whether by gift, loan, or otherwise, in any form from the federal or state government. j• The EDA may sell or lease land held by it for economic development, housing, redevelopment, -and municipal industrial development, as provided by law. k. The EDA may apply to the board defined in United States Code, Title 19, Section 81(a), for the right to use the powers provided in United States Code, Title 19, Sections 81(a) to 81(u). 1. The EDA may operate and maintain a public parking facility or other public facility to promote development in an economic development district. m. The EDA may cooperate with or act as agent for the federal or -the state government, -o- --a-state-public body, or an agency or instrumentality of a government or a public body. n. The EDA may study and analyze the needs of the City and ways to meet those needs consistent with its powers. o. The EDA may (1) join an official, industrial, commercial, -or trade assoeiaLion, or anotireT organization, (2) have a reception of officials who may contribute to advancing the city in its economic development and area redevelopment, and (3) carry out other public relations activities to promote the goals of the EDA. p The EDA may accept conveyances of land from all other public agencies, commissions, or other units of government, if the land can be properly used by the EDA. -4- q The EDA may carry out the law on economic development districts to develop and improve the lands in an economic development district to make it suitable and available for economic development uses and purposes. r. The EDA after receiving authority for bonds as required by law may borrow to provide money immediately required for the bond purpose. The EDA may use proceeds from both revenue bonds and loans obtained in anticipation of bonds to make or purchase loans for economic development facilities that the EDA believes will require financing. s. The EDA may exercise any of the delegated powers in connection with mined underground space development under Minnesota Statutes Sections 469.135 to 469.141. t. The EDA shall have the authority to employ technical experts, officers, agents and employees, permanent and temporary, that it requires, and determine their qualifications, duties, and compensation; for legal services it requires, to call upon the chief law officer of the city or to employ its own counsel; so far as practicable, to use the services of local public bodies in its area of operation, provided that these local bodies, if requested, _shall make the services available. u. The EDA may make plans for carrying out a program of voluntary repair and rehabilitation of buildings and improvements, and plans for the enforcement of laws, codes, and regulations relating to the use of land and the use and occupancy of buildings and improvements, and its ___compulsory repair, rehabilitation, demolition, or removal of buildings and improvements. v. The EDA may invest any funds held in reserves or sinking funds, or any funds not required for immediate disbursement, in property or securities in which savings banks may legally invest funds subject to their control. w. The EDA may within its area of operation, determine where blight exists or where.there is unsafe, unsanitary, or overcrowded housing. x. The EDA may carry out studies of the housing and redevelopment needs within its area of operation and of the meeting of those needs. This includes study of data on population and family groups and their distribution according to income groups, the amount and quality of available housing and its distribution according to rentals and sales prices, employment, wages, desirable patterns for land use and community growth and other factors effecting the local housing and redevelopment needs and the meeting of those needs; to make the results of those studies and analysis available to the public and to building, housing, and supply industries. y The EDA may lease or rent any dwellings, accommodations, lands, buildings, structures, or facilities included in any project. z. The EDA may insure or provide for the insurance of any real or personal property or operations of the authority against any risks or hazards. aa. The EDA may levy special benefit taxes as authorized by law, including but not limited to Minnesota Statutes Section 469.033, subdivision 6, for redevelopment, subject to prior approval of the City Council. bb. The-EDA-may--recommend-to--the-Ci-ty -t-he initiation of municipal powers, against certain real properties, relating to repair, closing, condemnation, or demolition of unsafe, unsanitary, hazardous, and unfit buildings. cc. Except as specifically limited in Section 2.01(a) of this resolution the EDA may exercise any powers granted it by Minnesota Statutes Chapter 469 to L he -extent pe rmi tied- by maw as -they now -ex -i- st--o-r hereafter may be amended from time to time. Section 4. Legal Status. The EDA is a public body corporate and politic and a political subdivision of the state with the right to sue and be sued in its own name. The EDA carries out an essential government function when it exercises its power, but the EDA is not immune from liability to the extent imposed under law because -of this. The state and its municipal subdivisions, including the City of Saint Louis Park, are not liable on the EDA's obligations. -6- - e Section 5. Assumption of Existing Projects. a. HRA Projects. The HRA shall assign and convey to the EDA all its assets, rights, title and interest with respect to all completed and ongoing development or redevelopment projects within the Excelsior Boulevard and Oak Park Village Redevelopment Districts and EDA shall assume the liabilities, duties and obligations of the HRA with respect to all completed and ongoing development or redevelopment projects within the Excelsior Boulevard and Oak Park Village Redevelopment Districts. Such conveyance shall include but not be limited to all real estate interests, all contract rights, all legal actions, all accounts receivable, all cash and investments, all reserve accounts and security deposits, all rights to future tax increment and all personal property. Such liabilities shall include but not be limited to all obligations to make payments on debt, all accounts payable, all contractual liabilities and obligations, all liability associated with ongoing legal actions and all contingent liability associated with past actions of the HRA. b. Tax Increment Financing District 85-1. The City shall assign and convey to the EDA all its assets, rights, title and interest with respect t -o --all completed and ongoing development or redevelopment projects within Tax Increment Financing District 85-1 and the EDA shall assume the liabilities duties and obligations of the City with respect to all completed and ongoing development or redevelopment projects within the Tax Increment Financing District 85-1. Such conveyance shall include but not be limited to all real estate interests, all contract rights, all legal actions a11_accntinIs receivable,--a-1-1--ea-s- and investments, all rights to future tax increment and all personal property. Such liabilities shall include but not be limited to all obligations to make payments on debt, all accounts payable, all contractual liabilities and obligations, all liability associated with ongoing legal actions and all contingent liability associated with past actions of the HRA. Section 6. Reports and Financial Statements. The EDA shall permit and submit all reports required by law to the Council, including an annual report required by Minnesota Statutes Section 469.092, subdivision 3. The EDA shall maintain all financial information and prepare all reports required by law, -7- including Minnesota Statutes Section 469.096, subdivision 9. Nothing in this section shall prohibit the EDA from preparing additional reports and submitting them to the Council or other agencies as may be appropriate. Section 7. Indemnification. For any project or program transferred to the EDA, the EDA shall covenant and pledge to perform the terms, conditions, and covenants of the bond indenture or other agreements executed for the security of any bonds issued by the governmental subdivision that initiated the project or program. The EDA may exercise all the power as necessary to perform the terms, conditions, and covenants of any indenture or other agreements executed for the security of the bonds that shall become obligated on the bonds when the project or program is transferred as provided in this resolution. The EDA shall indemnify and hold harmless the HRA, its commissioners, officers, and officials, from claims arising out of the terms, conditions, and covenants of the bond indenture or other agreements executed for the security of the bonds, including reasonable attorney's fees and costs. Section 8. Delegation of Authority. The EDA may transfer the control, authority, and operation of any project relating to housing for low and moderate income persons to the HRA. Section 9. Effective -Date. 1988. The Enabling Resolution shall become effective October 1, Adopted by the City Council September 19, 1988 Reviewed for Administration 5224U er- Approved as -to form and execution: City Atjney 1 1