HomeMy WebLinkAbout96-06 - ADMIN Resolution - Economic Development Authority - 1996/08/05THE ECONOMIC DEVELOPMENT AUTHORITY OF
THE CITY OF ST. LOUIS PARK
RESOLUTION # f0A 96-06
RESOLUTION OF THE ECONOMIC DEVELOPMENT AUTHORITY OF
THE CITY OF ST. LOUIS PARK, MINNESOTA SETTING FORTH THE
MODIFIED BUSINESS POINTS FOR THE ASSISTED LIVING PROJECT
AND REQUESTING THE CITY COUNCIL OF THE CITY OF ST. LOUIS
PARK TO CALL FOR A PUBLIC HEARING ON THE MODIFICATION
OF THE REDEVELOPMENT PLAN FOR THE CREATION OF THE PARK
CENTER BOULEVARD HOUSING DISTRICT
BE IT RESOLVED BY THE BOARD OF COMMISSIONERS (the "Board") OF THE
ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF ST. LOUIS PARK,
MINNESOTA (the "Authority") AS FOLLOWS:
WHEREAS, the City Council ("the Council") of the City of St. Louis Park, Minnesota
(the "City") created its Redevelopment Project pursuant to Minnesota Statutes, Section 469.090
through 469.1081, inclusive, as amended, in an effort to encourage the development and
redevelopment of certain designated areas within the City; and
WHEREAS, the Authority proposes to modify Redevelopment Plan for the
Redevelopment Project and create the Tax Increment Financing Plan for the Park Center
Boulevard Housing Tax Increment Financing District (together, the "Plans") pursuant to and in
accordance with Minnesota Statutes, Sections 469.090 through 469.1081 and Minnesota Statutes
469.174 to 469.179, inclusive, as amended;
WHEREAS, on December 18, 1995 the EDA adopted a preliminary resolution approving
the business points of the project; and
WHEREAS, due to substantial changes in the scope of the project those business points
have been modified to reflect the basic framework for the preparation of a redevelopment
agreement for the project.
NOW, THEREFORE, be it resolved by the Board of Commissioners of the Economic
Development Authority of the City of St. Louis Park, Minnesota as follows:
1. The business points are hereby modified and set forth in Exhibit A are preliminary in
nature and serve solely as the framework for the preparation of a redevelopment
agreement for this project.
2. The Authority hereby requests that the Council call for a public hearing to consider the
proposed modification to the Plans on October 7, 1996 and to cause notice of said public
hearing to be given as required by law.
3. The Authority directs the Executive Director to transmit copies of the Plans to the
Planning Commission of the City and requests 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.
4. The Executive Director of the Authority is hereby directed to submit a copy of the Plans
to the Council for its approval.
5. The Authority directs the Executive Director to transmit the Plans to the school district(s)
in which Redevelopment Project No. 1 and the Park Center Boulevard Housing Tax
Increment Financing District is located and to the County not later than September 5,
1996.
Approved by the Board this 5th day of August, 1996.
ATTEST:
Gc/�l
Executive Director
7952:GEN64