HomeMy WebLinkAbout00-06 - ADMIN Resolution - Economic Development Authority - 2000/03/20EDA RESOLUTION NO. 00-06
ST. LOUIS PARK ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION ESTABLISHING THE MILL CITY TAX INCREMENT
FINANCING DISTRICT WITHIN REDEVELOPMENT PROJECT NO. 1 AND
ADOPTING THE TAX INCREMENT FINANCING PLAN HEREFOR.
WHEREAS, it has been proposed that the Board of Commissioners (the "Board") of the
Economic Development Authority (the "EDA)" for the City of St. Louis Park (the "City")
establish the Mill City Tax Increment Financing District within Redevelopment Project No. I
and adopt the Tax Increment Financing Plan therefor, (the "Plan"), all pursuant to and in
conformity with existing law, including Minnesota Statutes, Sections 469.090 through 469.1081,
and Sections 469.174 to 469.179, inclusive, as amended, all as reflected in the Plan and
presented for the Board's consideration; and
WHEREAS, the EDA has investigated the facts relating to the Plan and has caused the
Plan to be prepared; and
WHEREAS, the proposed developments as described in the Plan, in the opinion of the
EDA, would not reasonably be expected to occur solely through private investment within the
reasonably foreseeable future and, therefore, the use of tax increment financing is deemed
necessary; and
WHEREAS, the EDA has performed all actions required by law to be performed prior to
the adoption of the Plan, including but not limited to, notification of Hennepin County and
School District No. 283 having taxing jurisdiction over the property to be included in the Mill
City Tax Increment Financing District, notice of a proposed redevelopment district to the local
county commissioner, a request for review of and written comment on the Plan by the City
Planning Commission, and a request that the Council schedule a public hearing on the Plan upon
published notice as required by law.
NOW, THEREFORE, BE IT RESOLVED by the Board as follows:
1. The EDA hereby finds that the Mill City Tax Increment Financing District is in
the public interest and is a "redevelopment district" under Minnesota Statutes, Section 469,174,
subd. 10 (a)(1), and finds that the adoption of the proposed Plan will advance the EDA's and
City's objectives of encouraging redevelopment within Redevelopment Project No. 1.
2. Conditioned upon the approval thereof by the City Council following its public
hearing thereon, the Plan, as presented to the EDA on this date, is hereby approved, established
and adopted and shall be placed on file in the office of the City Manager.
3. Upon approval of the Plan by the City Council, the staff, the EDA's advisors and
legal counsel are authorized and directed to proceed with the implementation of the Plan and for
this purpose to negotiate, draft, prepare and present to this Board for its consideration all further
plans, resolutions, documents and contracts necessary for this purpose. Approval of the Plan
does not constitute approval of any project or a Development Agreement with any developer.
EDA Resolution No. 00-06
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4. Upon approval of the Plan by the City Council, the Economic Development
Director is authorized to forward a copy of the Plan to the Minnesota Department of Revenue
pursuant to Minnesota Statutes 469.175, subdivision 2.
5. The Economic Development Director is authorized and directed to forward a copy
of the Plan to the Hennepin County Auditor and request that the Auditor certify the original tax
capacity of the Mill City Tax Increment Financing District as described in the Plan, all in
accordance with Minnesota Statutes 469.177.
Approved by the Board of Commissioners of the St. Louis Park Economic Development
Authority this 20th day of March, 2000.
Reviewed for Administration:
s C[/
cuthve irector
Attest:
'Secretary
U1 President