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HomeMy WebLinkAboutResolution 4658 r 4, '-.. .� . � . �;�F�^ �.. . . I CITY OF ORONO • HENNEPIN COUNTY STATE OF N�NNESOTA Council member F�int introduced the following resolution and moved its adoption: � i RESOLUTION NO. 4 S e5 � RESOLUTION ADOPTING THE REDEVELOPMENT PLAN . FOR HOUSING PROJECT AREA NO. 1,ESTABLISHING TAX INCREMENT FINANCING DISTRICT NO. 1-1 THEREIN,AND ADOPTING THE TAX INCREMENT FINANCING PLAN � THEREFOR. BE IT RESOLVED by the City Council (the "Council") of the City of Orono, � Minnesota(the "City"), as follows: Section 1. I . Recitals. � � � 1.01. It has been proposed by the Orono Housing and Redevelopment Authority(the "HRA") and the City that the City adopt the Development Plan for , Housing Project Area No. 1, establish Tax Increment Financing District No. 1-1 (the "District")thereiri and adopt the Tax Increment Financing Plan therefor(collectively, the "Plans"); all pursuant to and in conformity with applicable law, including Minnesota Statutes, 469.001 through 469.047 and 469.174 through 469.179, all �� � � • inclusive, as amended,�(the"Act") all as reflected in the Plans, and presented for the � Council's consideration. 1.02. The City has investigated the facts relating to the Plans and has caused the Plans to be prepared. 1.03. The City has performed all actions required by law to be performed prior to the establishment of the District and the adoption and approval of the proposed Plans, including, but not limited to, notification of Hennepin County and Independent School District No. 278 having taxing jurisdiction over the property to be included in the District, and the holding of a public hearing upon published notice as ' required by law. . 1.04. Other written reports and analysis (the"Supporting Data") � • relating to the Plans and to the activities contemplated therein have heretofore been prepared and submitted to the Council andlor made a part of the City files and proceedings on the Plans. The Supporting Data include data, information and/or � ' . substantiation constituting or relating to the bases for the other findings and determinations made in this resolution. The Council hereby confirms, ratifies and adopts the Supporting Data,which are hereby incorporated into and made as fully a part of this resolution to the same extent as if set forth in full herein. Section 2. Findin�:s for the Ado�tion and Ap�roval of the Plans. � 2.01. The Council hereby finds that the Plans, are intended and, in the ' judgment of this Council,the effect of such actions will be, to provide an impetus for f � . � � . . � ' " . � � SR development in the public purpose and accomplish certain objectives as specified in • the Plans, which are hereby incorporated herein. � ' Section 3. Findings for the Establishment�f T�Increment Financing District No. 1-1. . - � 3.01. The.Council 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. 3.02. The Council further finds that the proposed development would not occur solely through private investment within the reasonably foreseeable future and that the increased market value of the site that could reasonably be expected to occur without the use of tax increment financing would be less than the increase in the market value estimated to result from the proposed development after subtracting the present value of the projected tu�increments for the maximum duration of the District permitted by the Tax Increment Financing Plan,that the Plans conform to the general 'plan for the development or redevelopment of the City as a whole; and that the Plans will afford ma.�cimum opportunity consistent with the sound needs of the City as a � whole, for the development or redevelopment of the District by private enterprise. . 3.03. The City elects to make a qualifying local contribution in accordance with Minnesota Statutes, Section 273.1399, subd. 6(d),_in order to qualify the District for exemption from state aid losses set forth in Section 273.1399. 3.04. The Council further finds, declares and determines that the City • made the above findings stated in this Section and has set forth the reasons and supporting facts for each determination in writing, attached hereto as E�chibit A. Section 4. Public Pur�ose 4.01 The adoption of the Plans conforms in all respects to the requirements of the Act and will help fulfill a need to develop an area of the City which is already built up,to provide housing opportunities,to improve the tax base and to improve the general economy of the State and thereby serves a public purpose. Section 5. A��roval and Ado�tion of the Plans. 5.01. The Plans, as presented to the Council on this date, including without limitation the findings and statements of objectives contained therein,are . hereby approved,ratified, established, and adopted and shall be placed on file in the � � office of the City Administrator. 5.02. The HRA, the staff of the City,the City's advisors and legal counsel are authorized and directed to proceed with the implementation of the Plans and to negotiate, draft, prepare and present to this Council for its consideration all further plans, resolutions, documents and contracts necessary for this purpose. 5.03. At such time as the HRA and the City enter into a development � agreement to implement the Plans and the City Administrator receives evidence satisfactory to him of the availability of financing for the project described in the ' � Plans,the City Administrator is authorized and directed to transmit a request to the f �, �. • . ' • � ' ' °� � o� � , County Auditor for certification of the District in such form and content as the • Auditor may specify,together with a list of all properties within th District, for which building permits have been issued during the 18 months imr�ediately preceding the adoption of this resolution, and to make appropriate filings with the Minnesota Department of Revenue. . 5.04.� The City Administrator is further authorized and directed to file a copy of the Plans as required by the Act. The motion for the adoption of the foregoing resolution was duly seconded by Council member wtzite and upon a vote being taken thereon,the following voted in favor thereof: Mayor Peterson � � Council Member Nygard Council Member Sansevere and the following voted against the same: � None � Dated: May 29 , 2001 ATTEST: • Barbara Peterson, �` Ronald J. Moorse Mayor . City Administrator M1:755060.02 1Y V-�-e/ ` Li da S. Vee City Clerk • f