HomeMy WebLinkAbout90-29 - ADMIN Resolution - City Council - 1990/03/19f
RESOLUTION NO. 90-29
RESOLUTION MODIFYING THE HIGHWAY 7 DEVELOPMENT DISTRICT
AND MODIFYING THE DEVELOPMENT PROGRAM FOR THE HIGHWAY 7
DEVELOPMENT DISTRICT, MODIFYING THE TAX INCREMENT PLAN
FOR TAX INCREMENT FINANCING DISTRICT NO. 85-1, MODIFYING
THE EXCELSIOR BOULEVARD REDEVELOPMENT PROJECT AND
MODIFYING THE EXCELSIOR BOULEVARD REDEVELOPMENT PLAN,
ADOPTING THE TAX INCREMENT FINANCING PLAN FOR THE
EXCELSIOR BOULEVARD TAX INCREMENT FINANCING DISTRICT,
MODIFYING THE OAK PARK VILLAGE REDEVELOPMENT PROJECT AND
MODIFYING THE OAK PARK VILLAGE REDEVELOPMENT PLAN, AND
ADOPTING THE TAX INCREMENT FINANCING PLAN FOR THE OAK
PARK VILLAGE TAX INCREMENT FINANCING DISTRICT;
BE IT RESOLVED by the City Council of St. Louis Park (the
"City" or "Council"), as follows:
Section 1. Recitals. It has been proposed that the City
Council: (a) modify by an increase in the geographical area, the
Highway 7 Development District, together with modifications to
the Development Program for the Highway 7 Development District to
reflect such geographical changes; (b) modify by an increase in
project costs, the Tax Increment Financing Plan for District
No. 85-1; (c) modify by an increase in geographical area, the
Excelsior Boulevard Redevelopment Project, together with
modifications to the Excelsior Boulevard Redevelopment Plan to
reflect such geographic changes; (d) adopt a Tax Increment
Financing Plan for the Excelsior Boulevard Tax Increment
Financing District; (e) modify by an increase in geographical
area, the Oak Park Village Redevelopment Plan; and (f) adopt a
Tax Increment Financing Plan for the Oak Park Village Tax
Increment Financing District; all pursuant to and in accordance
with Minnesota Statutes, Sections 469.124-134, inclusive, as
amended, and Minnesota Statutes, Sections 469.174-179, inclusive,
as amended and Minnesota Statutes, Sections 469.001-047,
inclusive, as amended.
Section 2. Investigation; Preparation of Plans. The City
Council has investigated the facts and caused to be prepared the
plans and programs and modifications thereto (collectively
referred to as the "Plans") which are necessary to implement the
proposals set forth in Section 1 above.
Section 3. Statutory Compliance. The City Council has
performed all actions required by law to be performed prior to
approval of the proposed Plans, including, but not limited to,
notification to Hennepin County and St. Louis Park School
District No. 283, a review by the City Planning Commission of the
Plans and the holding of a public hearing upon published notice
as required by law.
Section 4. Findings.
4.1 The Council hereby finds that (a) the modification by
an increase in the geographical area of the Highway 7 Development
District, together with modifications to the Development Program
for the Highway 7 Development District to reflect such
geographical changes; (b) the modification by an increase in
project costs of the Tax Increment Financing District No. 85-1;
(c) the modification by an increase in geographical area of the
Excelsior Boulevard Redevelopment Project, together with
modification to the Excelsior Boulevard Redevelopment Plan to
reflect such geographic changes; (d) the adoption of the Tax
Increment Financing Plan for the Excelsior Boulevard Tax -
Increment Financing District; (e) the modification by an increase
it geographical area of the Oak Park Village Redevelopment Plan;
and (f) the proposed adoption of the Tax Increment Financing Plan
for the Oak Park Village Tax Increment Financing District, are
intended and, in the judgment of this Council, the effect of such
actions will be, to provide an impetus for commercial,
residential and industrial development in the City, to increase
employment, to eliminate, remove, prevent, or reduce blight or
the causes of blight, and otherwise promote certain public
purposes and accomplish certain objectives as specified in the
Plans and that it is proper and desirable to undertake such
activities.
4.2 The Council further finds that the proposed
development and other activities set forth in the Plans, in the
opinion of the Council, would not occur solely through private
investment within the reasonably foreseeable future, and, that
the land involved would not be made available for development or
redevelopment without the proposed financial aid, and, therefore,
the use of tax increment financing is deemed necessary; that the
Plans conform to the general plan for the development or
redevelopment of the City and locality as a whole; and that the
Plans will afford maximum opportunity consistent with the sound
needs of the City and locality as a whole, for the development of
Tax Increment Financing District No. 85-1 and the development of
the projects and the development and redevelopment districts
described in the Plans, by private enterprise.
4.3 The Council further states that it has made all
findings and determinations which are required pursuant to and in
accordance with Mineesota Statutes, Sections 469.124-134,
inclusive, as amended, and -Minnesota Statutes, Sections
469.174-179, inclusive, as amended and Minnesota Statutes,
Sections 469.001-047, inclusive, as amended, and further finds,
declares and determines that the City made the above findings -
stated in Section 4 or on Exhibit A attached hereto and has set
forth the reasons and supporting facts for each determination in
writing, on Exhibit A.
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Section 5. Approval o the Plana.
5.1 The Plans are hereby approved and adopted and shall
be placed on file in the office of the City Manager.
5.2 The City staff of the City, the City's advisors and
legal counsel are authorized and directed to proceed with the
implementation of the Plans and for this purpose to negotiate,
draft, prepare and present to this Council for its consideration
all further plans, resolutions, documents and contracts necessary
for this purpose.
Adopte by the City Council of the City of St. Louis Park on
March , 1990.
ATTEST:
44:670.0
(4/
(SEA
Reviewed by Administration:
Ai L- ,o/X4i
City Manager
ZDMR-129(12)
600'39Ud
Mayor
Approved as to form and
execution:
-3-
S1dW >I I' H WUHdOd W0e1 J 9a : L I 06, SI dUW
EXHIBIT A TO RESOLUTION NO. 1F404.0 7
The reasons and facts supporting the findings for adoption
and modification of the PlAps.As such term is defined in Sections
1 and 2 of Resolution No. as required pursuant to Minnesota
Statutes, Section 469.175, Subdivision 3 are as follows:
1. Finding that the proposed development and
redevelopment, in the opinion of the Council, would not
reasonably be expected to occur solely through private investment
within the reasonably foreseeable future and, therefore, the use
of tax increment financing is deemed necessary.
City staff has reviewed the projected financing costs
for the development and has determined, based on available
information, that the proposed development could not reasonably
be expected to occur without the financing described in the
Plans. Staff estimates are that the cost to acquire the land,
relocate occupants, and demolish the structures for the sites
that are in need of redevelopment will be at least two times the
value of the land for its highest and best use.'
2. Finding that the Tax Increment Financing,Plan
conforms to the general plan for the development o4Ctedevelopment
of the municipality as a whole. ``� u.,
City staff and the City Planning Commission4have
reviewed the Plans and have determined that the Piing' conform to
the Comprehensive Plan of the City. ;y
Subsection 1.12 of the Plans state as follows:
Property reused in the Development District and
Redevelopment Projects that is in a tax increment financing
district will continue to be governed by the tax increment
financing plan as well as by the Comprehensive Flan. Land reuse
outside the tax increment financing district but within the
Development District and Redevelopment Projects will be governed
by the Comprehensive Plan, including any changes that are made
thereto.
3. Finding that the Plans will afford maximum
opportunity, consistent with the sound needs of the City as a
whole, for the development or redevelopment of the projects
described in the Plans, by private enterprise.
City staff review of the projected development and
redevelopment, as set forth in the Plans, as it relates to the
Comprehensive Plan, supports the determination that such
activities maximize the likelihood that such development and
redevelopment will be undertaken by private enterprise.
ZDMR124(15)
200•3913d ' S1dW >1 I WA WUHdOd WO2i J 6G:01 066 91 8"
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