HomeMy WebLinkAbout07-004 - ADMIN Resolution - City Council - 2007/01/16CITY OF ST. LOUIS PARK
COUNTY OF HENNEPIN
STATE OF MINNESOTA
RESOLUTION NO. 07-004
RESOLUTIONADOPTING A MODIFICATION TO THE REDEVELOPMENT
PLAN FOR REDEVELOPMENT PROJECT NO. 1 AND A MODIFICATION TO
THE TAX INCREMENT FINANCING PLANS FOR THE PARK CENTER
BOULEVARD HOUSING, EXCELSIOR BOULEVARD, OAK PARK VILLAGE
AND HIGHWAY 7 TAX INCREMENT FINANCING DISTRICTS.
BE IT RESOLVED by the City Council (the "Council") of the City of St. Louis Park,
Minnesota (the "City"), as follows:
Section 1. Recitals.
1.01. The Board of Commissioners (the "Board") of the St Louis Park Economic
Development Authority (the "EDA") has heretofore established Redevelopment Project No 1
and adopted a Redevelopment Plan therefor. It has been proposed by the EDA and the City that
the City adopt a Modification to the Redevelopment Plan for Redevelopment Project No 1 (the
"Redevelopment Plan Modification") and a Modifications to the Tax Increment Financing Plan
s(the "TIF Plan Modifications") for the Park Center Boulevard Housing, Excelsior Boulevard,
Oak Park Village and Highway 7 Tax Increment Financing Districts (the "Distncts") therefor
(the Redevelopment Plan Modification and the TIF Plan Modifications are referred to
collectively herein as the "Modifications"); all pursuant to and in conformity with applicable law,
including Minnesota Statutes, Sections 469.001 to 469.047, Sections 469.090 to 469 1082, and
Sections 469.174 to 469.1799, all inclusive, as amended, (the "Act") all as reflected in the
Modifications, and presented for the Council's consideration.
1.02. The City has investigated the facts relating to the Modifications and has caused
the Modifications to be prepared
1.03 The City has performed all actions required by law to be performed pnor to the
adoption and approval of the proposed Modifications, including, but not limited to, notification
of the Hennepin County and Independent School Distnct No. 283 having taxing jurisdiction over
the property included in the Distnct, a review of and wntten comment on the Modifications by
the City Planning Commission, and the holding of a public hearing upon published notice as
required by law.
1.04. The City is not modifying the boundaries of Redevelopment Project No. 1.
1.05. The City is clanfying the budgets for the Excelsior Boulevard, Oak Park Village
and Highway 7 TIF Districts and identifying future uses for the tax increment generated by the
Park Center Boulevard District
Resolution No. 07-004 -2-
Section 2. Findings for the Tax Increment Financing Plan Modification
2.01. The Council hereby finds that the Modifications, are intended and, in the
judgment of this Council, the effect of such actions will be, to provide an impetus for
development in the public interest and accomplish certain objectives as specified in the
Modifications, which are hereby incorporated herein
Section 3. Findings for the Modifications of the Distncts
3.01. The Council hereby finds that the Districts and the modified Plans are intended
and, in the judgment of this Council, the effect of such actions will be, to provide an impetus for
redevelopment in the public purpose and accomplish certain objectives as specified in the Plans,
which are hereby incorporated herein
3.02 The Council reaffirms its findings of October 7, 1996, that the Park Center
Boulevard Tax Increment Financing Distnct Is a housing distnct under Minnesota Statutes,
Section 469 174 subd. 11; its finding of February 7, 1977, that the Excelsior Boulevard Tax
Increment Financing Distnct is a redevelopment distnct under Minnesota Statutes, Section
469.174, subd 10; its finding of November 6, 1972, that the Oak Park Village Tax Increment
Financing District is a redevelopment distnct under Minnesota Statutes, Section 469.174, subd.
10; and its finding of Apnl 15, 1985, that the Highway 7 Tax Increment Financing District is a
redevelopment distnct under Minnesota Statutes, Section 469.174, subd. 10.
3.03. The Council hereby reaffirms its findings that the developments and
redevelopments proposed in the modified Tax Increment Financing Plans and the modified
Redevelopment Plan, in the opinion of the Council, would not occur solely through pnvate
Investment within the reasonably foreseeable future, that the modified Plans conform to the
general plan for the development or redevelopment of the City as a whole; and that the modified
Plans will afford maximum opportunity consistent with the sound needs of the City as a whole,
for the development of the Park Center Boulevard, Excelsior Boulevard, Oak Park Village, and
Highway 7 Tax Increment Financing Districts by pnvate enterpnse.
3.04. The Council further finds, declares and determines that the City made the above
findings stated in this Section and has set forth the reasons and supporting facts for each
determination in writing, attached hereto as Exhibit A.
3.05. The Council hereby reaffirms its election of April 15, 1985, (for the Highway 7
Tax Increment Financing Distnct) to calculate fiscal dispanties for the Highway 7 Tax Increment
Financing Distnct in accordance with Minnesota Statutes, Section 469.177, subdivision 3, clause
a, which means the fiscal dispanties contnbution is not taken from within the District
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Resolution No. 07-004 -3-
Section 4. Public Purpose
4 01. The adoption of the Modifications conforms in all respects to the requirements of
the HRA Act, the EDA Act, and the TIF Act and will help fulfill a need to redevelop an area of
the State of Minnesota which is underutilized and blighted, and that the adoption of the TIF Plan
will preserve and enhance the tax base of the City and the State because it will facilitate the
development and redevelopment of an area with obsolete land use and occupied by substandard
buildings and create new housing and commercial uses. The City expressly finds that any
pnvate benefit to be received by developers is incidental, as the assistance is only provided to
remedy the conditions that impair the development potential of the site and only in the amount
necessary to carry out that purpose That is, the tax increment assistance is necessary to produce
the public benefits described above. Therefore, the City finds that the public benefits of the
Plans exceed any pnvate benefits.
Section 5. Approval and Adoption of the Modifications; Filing
5.01 The Modifications are hereby approved, and shall be placed on file in the office of
the City Clerk. Approval of the Modifications does not constitute approval of any project or a
development agreement with any developer.
5.02. The staff of the City is authorized to file the Modifications with the
Commissioner of Revenue, the Office of the State Auditor and the County of Hennepin Auditor.
5 03. The staff of the City, the City's advisors and legal counsel are authonzed and
directed to proceed with the implementation of the Modifications and for this purpose to
negotiate, draft, prepare and present to this Council for its consideration all further modifications,
re,6lutions, documents and contracts necessary for this purpose.
Reviewe. er dministration:
City Manage
ATTEST:
Ado ted by the City Council January 16, 2007
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