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HomeMy WebLinkAbout10-20 - ADMIN Resolution - Economic Development Authority - 2010/11/15ST. LOUIS PARK ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION NO. 10-20 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 HARDCOAT 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 Hardcoat 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: 1. The Authority hereby requests that the Council call for a public hearing on December 20, 2010, 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. Administration: Adopted by the Economic Development Authority November 15, 2010 Ka i r — Mor Pre 'dent Attest act EDA Resolution No. 10-20 -2- SCHEDULE OF EVENTS ST. LOUIS PARK ECONOMIC DEVELOPMENT AUTHORITY AND THE CITY OF ST. LOUIS PARK HENNEPIN COUNTY, MINNESOTA FOR THE MODIFICATION TO THE REDEVELOPMENT PLAN FOR REDEVELOPMENT PROJECT NO. 1 AND THE ESTABLISHMENT OF THE HARDCOAT TAX INCREMENT FINANCING DISTRICT (an economic development district established under the 2010 Laws of Minnesota, Chapter 216, H.F. No. 2695, Section 31) November 8, 2010 Project information (property identification numbers and legal descriptions, detailed project description, maps, but/for statement, and list of sources and uses of funds) for drafting necessary documentation sent to Ehlers. November 15, 2010 EDA requests that the City Council call for a public hearing. November 15, 2010 City Council calls for a public hearing. November 17, 2010 Ehlers confirms with the City whether building permits have been issued on the property to be included in the TIF District. NA County receives TIF Plan for review for County Road impacts (at least 45 days prior to public hearing). *The County Board, by law, has 45 days to review the TIF Plan to determine if any county roads will be impacted by the development. Because the City staff believes that the proposed tax increment financing district will not require unplanned county road improvements, the TIF Plan will not be forwarded to the County Board 45 days prior to the public hearing. Please be aware that the County Board could claim that tax increment should be used for county roads, even after the public hearing November 19, 2010 Fiscal/economic implications received by School Board Clerk and County Auditor (at least 30 days prior to public hearing). [Ehlers will fax and mail on or before November 19, 20101 November 22, 2010 Ehlers conducts internal review of the Plans. December 9, 2010 Date of publication of hearing notice and map (at least 10 days but not more than 30 days prior to hearing). [Ehlers will submit notice & map to the St. Louis Park Sun Sailor on or before December 2, 2010 at sunlegals@acnpapers. com] December 15, 2010 Planning Commission reviews Plans to determine if they are in compliance with City's comprehensive plan and adopts a resolution approving the Plans. EDA Resolution No. 10-20 -3- SCHEDULE OF EVENTS — PAGE 2 ST. LOUIS PARK ECONOMIC DEVELOPMENT AUTHORITY AND THE CITY OF ST. LOUIS PARK HENNEPIN COUNTY, MINNESOTA FOR THE MODIFICATION TO THE REDEVELOPMENT PLAN FOR REDEVELOPMENT PROJECT NO. 1 AND THE ESTABLISHMENT OF THE HARDCOAT TAX INCREMENT FINANCING DISTRICT (an economic development district established under the 2010 Laws of Minnesota, Chapter 216, H.F. No. 2695, Section 31) December 20, 2010 EDA adopts a resolution approving the Plans. December 20, 2010 City Council holds public hearing at 7:30 p.m. on a Modification to the Redevelopment Plan for Redevelopment Project No. 1, the establishment of the Hardcoat Economic Development Tax Increment Financing District and passes resolution approving the Plans. [Ehlers will email Council packet information to the City on December 13, 2010] December 21, 2010 City can issue building permits. , 2010 City authorizes Ehlers to request certification of the TIF District. Before June 30, 2011 Ehlers requests certification of the TIF District from the state and county. Before July 1, 2011 Construction of project begins. An action under subdivision 1, paragraph (a), contesting the validity of a determination by an authority under section 469.175, subdivision 3, must be commenced within the later of: (1) 180 days after the municipality's approval under section 469.175, subdivision 3; or (2) 90 days after the request for certification of the district is filed with the county auditor under section 469.177, subdivisionl.