HomeMy WebLinkAbout12-09 - ADMIN Resolution - Economic Development Authority - 2012/06/18ST. LOUIS PARK ECONOMIC DEVELOPMENT AUTHORITY
EDA RESOLUTION NO. 12-09
RESOLUTION DESIGNATING A BUILDING AS STRUCTURALLY SUBSTANDARD
BE IT RESOLVED By the Board of Commissioners ('Board") of the St. Louis Park
Economic Development Authority ("Authority") as follows:
Section 1. Recitals.
1.01. Under Minnesota Statutes, Section 469.174, subd. 10(d), the Authority is authorized
to deem parcels as occupied by structurally substandard buildings despite prior demolition or
removal of the buildings, subject to certain terms and conditions as described in this resolution.
1.03. The Authority intends to cause demolition of the building located on the property
described in Exhibit A hereto (the "Designated Property"), and may in the future include the
Designated Property in a redevelopment or renewal and renovation tax increment financing district
as defined in Minnesota Statutes. Sections 469.174, Subd. 10.
Section 2. Building Designated Substandard; Other Proceedings.
2.01. The Authority finds that the building on the Designated Property as described in
Exhibit A is structurally substandard to a degree requiring substantial renovation or clearance, based
upon the inspection of such building on November 10, 2011 by the City Building Official and
summarized in the letter addressed to the property owner, Mr. Tony Nicklow, dated January 23,
2012 on file in City Hall.
2.02. After the date of approval of this resolution, the building on the Designated Property
may be demolished or removed by the Authority, or such demolition or removal may be financed by
the Authority, or may be undertaken by a developer under a development agreement with the
Authority.
2.03. The Authority intends to include Designated Property in a redevelopment or renewal
and renovation tax increment financing district, and to file the request for certification of such
district with the Hennepin County auditor within three years after the date of building demolition on
the Designated Property.
2.04. Upon filing the request for certification of the new tax increment financing district, the
Authority will notify the Hennepin County auditor that the original tax capacity of the Designated
Property must be adjusted to reflect the greater of (a) the current net tax capacity of the parcel, or (b)
the estimated market value of the parcel for the year in which the building was demolished or
removed, but applying class rates for the current year, all in accordance with Minnesota Statutes,
Section 469.174, subd. 10(d).
2.05. Authority staff and consultants are authorized to take any actions necessary to carry
out the intent of this resolution.
EDA Resolution No. 12-09
Attest
Secretary
-2 -
Adopted by the Economic Development
Authority the 18`h of June, 2012
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