HomeMy WebLinkAbout13-01 - ADMIN Resolution - Economic Development Authority - 2013/03/18ST. LOUIS PARK ECONOMIC DEVELOPMENT AUTHORITY
/ EDA RESOLUTION NO. 13-01
1 RESOLUTION REQUESTING A CITY PUBLIC HEARING ON
A MODIFICATION TO THE REDEVELOPMENT PLAN FOR REDEVELOPMENT
PROJECT NO.1 AND THE ESTABLISHMENT OF THE ELIOT PARK TAX
INCREMENT FINANCING DISTRICT (A REDEVELOPMENT DISTRICT)
BE IT RESOLVED, by the Board of Commissioners (the `Board") of the St. Louis Park
Economic Development Authority (the "Authority") as follows:
WHEREAS, the Authority has undertaken a program to promote the development and
redevelopment of underutilized land within the City of St. Louis Park (the "City"), and in
connection with this program has established Redevelopment Project No. 1 (the "Project")
pursuant to Minnesota Statutes, Sections 469.001 to 469.047, as amended; and
WHEREAS, the Authority is proposing to modify the Redevelopment Plan for the Project
(the "Modification"), establish the Eliot Park Tax Increment Financing District (the "TIF
District") within the Project, and adopt a Tax Increment Financing Plan (the "TIF Plan") for the
TIF District, pursuant to Minnesota Statutes, Sections 469.174 to 469.1799, as amended.
NOW, THEREFORE BE IT RESOLVED by the Board as follows:
1. The Authority hereby requests that the Council call for a public hearing on May 6, 2013, to
consider the Modification, establishment of the TIF District and adoption of the TIF Plan,
and cause notice of said public hearing to be given as required by law.
2. Authority staff and consultants are authorized and directed to take all steps necessary to
prepare the Modification, TIF Plan and related documents, and to undertake all actions
necessary to bring the Modification and TIF Plan before the Council.
Adopted by the Economic Development
Authority March 18, 2013
Attest:
resident