HomeMy WebLinkAbout20-01 - ADMIN Resolution - Economic Development Authority - 2020/03/16EDA Resolution No. 20-01
Resolution designating certain buildings as structurally substandard
within Redevelopment Project No. 1
Whereas, under Minnesota Statutes, Section 469.174, subd. 10(d), the Authority is
authorized to deem parcels as occupied by structurally substandard buildings despite prior
demolition or removal of the buildings, subject to certain terms and conditions as described in this
resolution; and
Whereas, the Authority may allow demolition of the buildings located on the property
described in Exhibit A hereto (the “Designated Property”), and further intends to include the
Designated Property in a redevelopment tax increment financing district as defined in Minnesota
Statutes. Sections 469.174, Subd. 10.
Now therefore be it resolved that the Authority finds that the buildings on the
Designated Property as described in Exhibit A are structurally substandard to a degree requiring
substantial renovation or clearance, based upon the analysis of such buildings by LHB, presented
to the Authority on February 5, 2020 as “Parkway Residence Redevelopment TIF Analysis: Property
Condition Assessment Summary Sheet” as supplemented by a final Property Condition Assessment
to be delivered in spring 2020.
It is further resolved that after the date of approval of this resolution, the buildings on the
Designated Property may be demolished or removed by the Authority, or such demolition or
removal may be financed by the Authority, or may be undertaken by a developer under a
development agreement with the Authority.
It is further resolved that the Authority intends to include the Designated Property in a
redevelopment tax increment financing district, and to file the request for certification of such
district with the Hennepin County auditor within three years after the date of building demolition
on the Designated Property.
It is further resolved that upon filing the request for certification of the new tax increment
financing district, the Authority will notify the Hennepin County auditor that the original tax
capacity of the Designated Property must be adjusted to reflect the greater of (a) the current net
tax capacity of each parcel, or (b) the estimated market value of the parcels for the year in which
the building was demolished or removed, but applying class rates for the current year, all in
accordance with Minnesota Statutes, Section 469.174, subd. 10(d).
It is further resolved that Authority staff and consultants are authorized to take any
actions necessary to carry out the intent of this resolution.
DocuSign Envelope ID: 6F4FCBEE-EDE7-4E52-ACB2-FA24018C471E
EDA Resolution No. 20-01 2
Reviewed for administration: Adopted by the Economic Development
Authority, March 16, 2020
Thomas K. Harmening, executive director Rachel Harris, president
Attest:
Melissa Kennedy, secretary
DocuSign Envelope ID: 6F4FCBEE-EDE7-4E52-ACB2-FA24018C471E
EDA Resolution No. 20-01 3
EXHIBIT A
Description of Designated Property
PID No. 0602824110022, 4108 31st Street W.
PID No. 0602824110021, 4100 31st Street W.
PID No. 0602824110020, 4020 31st Street W.
PID No. 0602824110019, 4012 31st Street W.
PID No. 0602824110018, 4008 31st Street W.
PID No. 0602824110017, 4000 31st Street W.
DocuSign Envelope ID: 6F4FCBEE-EDE7-4E52-ACB2-FA24018C471E