HomeMy WebLinkAbout11-18 - ADMIN Resolution - Economic Development Authority - 2011/12/05EDA RESOLUTION NO. 11-18
RESOLUTION REQUESTING THE CITY COUNCIL OF THE CITY OF ST.
LOUIS PARK CALL FOR A PUBLIC HEARING ON A MODIFICATION TO
THE REDEVELOPMENT PLAN FOR REDEVELOPMENT PROJECT NO.1
AND THE ESTABLISHMENT OF THE OAK HILL II TAX INCREMENT
FINANCING DISTRICT (AN ECONOMIC DEVELOPMENT 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 land which is underutilized within the City of St. Louis Park, Minnesota (the
"City"), and in connection with this program has established Redevelopment Project No. 1 (the
"Project") pursuant to Minnesota Statutes, Minnesota Statutes, Sections 469.001 to 469.047; and
WHEREAS, the Authority is proposing a Modification to the Redevelopment Plan for the
Project (the "Modification"), the establishment of the Oak Hill II Tax Increment Financing
District (the "TIF District") within the Project, and the adoption of a Tax Increment Financing
Plan (the "TIF Plan") for the TIF District, pursuant to Minnesota Statutes, Sections 469.174 to
469.1799:
NOW, THEREFORE BE IT RESOLVED by the Board as follows:
The Authority hereby requests that the Council call for a public hearing on January 17, 2012,
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.
Attest
Secretary
Adopted by the Economic Development Authority
De tuber 011
President