HomeMy WebLinkAbout97-06 - ADMIN Resolution - Economic Development Authority - 1997/05/05Economic Development Authority
of St. Louis Park, Minnesota
RESOLUTION NO. 7 " 06 :1-10
RESOLUTION TO AUTHORIZE THE REIMBURSEMENT TO THE CITY'S WATER
UTILITY FUND OF COSTS ASSOCIATED WITH THE CLEAN-UP OF
CONTAMINATION AT THE FORMER REILLY TAR SITE
WHEREAS, MSA § 469.176 subd. 4 permits expenditures by an Economic Development
Authority to pay public redevelopment costs pursuant to sections 469.001 to 469.047; and
WHEREAS, MSA § 469.002 subd. 14 defines redevelopment costs to include work to
clear any areas acquired and install, construct or reconstruct streets, utilities and site
improvements essential to the preparation of sites for uses in accordance with the redevelopment
plan; and
WHEREAS, the original plan document adopted in 1972 for the Oak Park Village Tax
Increment District specifies that one of the objectives of the urban renewal plan is the elimination
of pollution and that plan modifications adopted in 1990 specify that public improvements needed
to bring about the new development may include site improvements such as soil and groundwater
corrections; and
WHEREAS, the Tax Increment Financing Plan provides for such site improvement costs;
and
WHEREAS, the Water Utility of the City of St. Louis Park has incurred significant costs
related to the initial clean-up as well as the ongoing maintenance of the former Reilly Tar site and
that it is projected that significant capital and operating costs will continue into the future; and
WHEREAS, amounts received from or costs paid directly by Reilly Tar still result in the
Water Utility bearing net costs of $5,798,000 through 1996; and
WHEREAS, the Economic Development Authority's Development Fund has sufficient
monies on hand to reimburse the City's Water Utility for the costs associated with the clean-up at
the former Reilly Tar site;
NOW THEREFORE, BE IT RESOLVED by the Economic Development Authority of
St. Louis Park, Minnesota that it authorizes reimbursement from the Development Fund to the
City of St. Louis Park's Water Utility Fund for the net costs incurred through December 31, 1996
at the former Reilly Tar site as documented by the ENSR study and report.
BE TT FURTHER RESOLVED, that the reimbursement to the City be reduced by any
amount determined to represent labor costs of City employees.
Attest:
i
Secretary
Adopted by the Economic Development Authority May 5, 1997
i
Pre�idenl"' i
Reviewed for Administration:
Executive Director