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HomeMy WebLinkAboutResolution 4653 • =i�i!Y1 ' � . _ '� ORONO HOUSING AND REDEVELOPMENT AUTHORITY • � I CITY OF ORONO � � - � HENNEPIN COUNTY STATE OF MINNESOTA . RESOLUTION NO. �� � � � � RESOLUTION ADOPTING THE REDEVELOPMENT PLAN � FOR HOUSING PROJECT NO. 1; AND ESTABLISHING TAX INCREMENT FINANCING DISTRICT NO. 1-1 WITHIN HOUSING PROJECT NO. 1 AND ADOPTING THE TAX � � INCREMENT FINANCING PLAN THEREFOR. � , WHEREAS, it has been proposed by the Board of Commissioners (the "Board") of the Orono Housing and Redevelopment Authority(the "HRA") and the � City of Orono (the"City")that the I3RA adopt the Development Plan for Housing Project No. 1 and establish Tax Increment Financing District No. 1-1 and adopt the Tax Increment Financing Plan therefor, (collectively,the "Plans"), all pursuant to and in conformity with applicable law, including Minnesota Statutes, Sections 469.001 �� through 469.047, and Sections 469.174 to 469.179, inclusive, as amended(the"Act"), all as reflected in the Plans and presented for the Board's consideration; and W�IEREAS,the City has investigated the facts relating to the Plans and has caused the Plans to be prepazed; and . - VVHEREAS,the City has performed all actions required by law to be_ • performed prior to the adoption of the Plans. The City has also requested the Council � . schedule a public hea'ring on the Plans upon published notice as required by law. NOW, 'THEREFORE, BE IT RESOLVED by the Board as follows: 1. The HRA hereby finds that Tax Increment Financing District No. 1-1 is in the public interest and is a"housing district"under Minnesota Statutes, Section 469.174, subd. 11 and Minnesota Statutes, and fmds that the adoption of the proposed . Plans conforms in all respects to the requirements of the Act and will facilitate the development of a parcel of land in the City that due to a variety of conditions and reasons has remained undeveloped and will result in the construction of needed decent, safe and sanitary housing for persons of low and moderate income and thereby serves a public purpose. 2. The HRA further finds that the Plans will afford maximum opportunity, , � consistent with the sound needs for the City as a whole, for the development or � redevelopment of the project area by private enterprise in that the intent is to provide � � only that public assistance necessary to make the private developments financially . feasible. 3. Conditioned upon the approval thereof by tlie City Council following its public hearing thereon,the Plans, as presented to the HRA on this date, are hereby approved, established and adopted and shall be placed on file in the office of the City Administrator. � 4. Upon approval of the Plans by the City Council,the staff,the HR�'s , . . . { � . , . .�z - c . . � � � ts advisors and legal counsel are authorized and directed to proceed with the • implementation of the Plans 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 Plans does not constitute approval of any project or a Development Agreement with any developer. � 5: Upon approval of the Plans by the City Council, subject to such � conditions as the City Council may specify, the City Administrator is authorized and � directed to forward a copy of the Plans to the Minnesota Department of Revenue pursuant to Minnesota Statutes 469.175, subdivision 2. � 6. The City Administrator is authorized and directed, subject to such � conditions as the City Council may specify, to forward a copy of the Plans to the Hennepin County Auditor and request that the Auditor certify the original tax capacity of the District as described in the Plans, all in accordance wrth Minnesota Statutes 469.177. , ' Approved by the HRA of the City of Orono on this 29 th day�of MaY , 2001. � Barbara Peterson . Chair • ST: . . . . . � . � . ecretary obe t K. Sansevere � MI:755050.02 • � '. f '