HomeMy WebLinkAbout96-04 - ADMIN Resolution - Economic Development Authority - 1996/05/20RESOLUTION NO EDA96-04
RESOLUTION AUTHORIZING THE DESIGN AND CONSTRUCTION OF
CITY OF ST. LOUIS PARK IMPROVEMENT PROJECT NO. 96-22 AND THE
TRANSFER OF TAX INCREMENT FUNDS TO DEFRAY THE COST OF SAID
PROJECT
WHEREAS, on March 19, 1990 the Redevelopment Plan for Excelsior Boulevard
Redevelopment Project was modified to enlarge the Project to add areas in need of redevelopment
and enable tax increments collected in the tax increment district to finance redevelopment. Also, a
Tax Increment Financing Plan was added to clarify the change in the scope of activities in the
original plan; and
WHEREAS, the budget within said plan included expenditures associated with making
public improvements in the Excelsior Boulevard Redevelopment Project Area; and
WHEREAS, the St. Louis Park Economic Development Authority desires to undertake
various public street improvements in 1997 along Excelsior Boulevard between France Avenue
and Monterey Drive, the area of which is located in said redevelopment project area, and
WHEREAS, the estimated cost for said project is approximately $3 million; and
WHEREAS, the St. Louis Park Economic Development Authority desires to have the City
of St. Louis Park undertake the design and construction of said improvements to take advantage
of the City's expertise and staff resources to complete said project in a timely and cost efficient
manner.
NOW, THEREFORE BE IT RESOLVED that the St. Louis Park Economic Development
Authority formally authorizes the design and construction of City of St. Louis Park Improvement
Project No. 96-22 and the transfer of tax increment funds to defray the cost of said project.
ATTEST:
is Executive Direr ct
Adopted by the Economic Development Authority May 20, 1996
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