HomeMy WebLinkAbout18-04 - ADMIN Resolution - Economic Development Authority - 2018/05/07EDA RESOLUTION NO. 18-04
RESOLUTION REQUESTING THE CITY COUNCIL OF THE CITY OF ST.
LOUIS PARK CALL FOR A PUBLIC HEARING ON THE MODIFICATION OF
REDEVELOPMENT PROJECT NO.1 AND THE ESTABLISHMENT OF THE
BRIDGEWATER BANK TAX INCREMENT FINANCING DISTRICT.
BE IT RESOLVED, by the Board of Commissioners (the `Board") of the St. Louis Park
Economic Development Authority (the "EDA") as follows:
WHEREAS, the City Council (the "Council") of the City of St. Louis Park; Minnesota (the
"City") established Redevelopment Project No. 1 (the "Project") pursuant to Minnesota Statutes,
Sections 469.090 to 469.1081, inclusive, as amended (the "EDA Act's, in an effort to encourage
the development and redevelopment of certain designated areas within the City, and transferred
the administration of the Project to the EDA; and
WHEREAS, the EDA is proposing a modification of the Redevelopment Plan for the Project
and the establishment of the Bridgewater Bank Tax Increment Financing District within the
Project, pursuant to and in accordance with the EDA Act and Minnesota Statutes, Sections 469.174
to 469.1794, as amended.
NOW, THEREFORE BE IT RESOLVED by the Board as follows:
The EDA hereby requests that the Council call for a public hearing on July 2, 2018 to consider
the proposed adoption of a Modification to the Redevelopment Plan for the Project and the
proposed adoption of the Tax Increment Financing Plan for the Bridgewater Bank Tax
Increment Financing District (collectively, the "Plans") and cause notice of said public hearing
to be given as required by law.
2. The Economic Development Coordinator is authorized and directed to transmit copies of the
Plans to the Planning Commission of the City and request the Planning Commission's written
opinion indicating whether the proposed Plans are in accordance with the Comprehensive Plan
of the City, prior to the date of the public hearing.
3. The Economic Development Coordinator is authorized and directed to transmit the Plans to
the County and the School District in which the Bridgewater Bank Tax Increment Financing
District is located not later than June 1, 2018.
4. Staff and consultants are authorized and directed to take all steps necessary to prepare the
Plans and related documents and to undertake other actions necessary to bring the Plans before
( dW Council for its approval.
for &ministration: Adopted by the Economic Development Authority
May 7 2018
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