HomeMy Public PortalAbout1985-004Member /le r dr. ma in introduced the following resolution and
moved its adoption:
CITY OF MEDINAc�
RESOLUTION NO. 04S161
RESOLUTION APPROVING A DEVELOPMENT
PROGRAM AND TAX INCREMENT FINANCING
PLANS FOR DEVELOPMENT DISTRICT NO. 1;
ESTABLISHING DEVELOPMENT DISTRICT NO. 1;
ESTABLISHING TAX INCREMENT FINANCING
DISTRICT NOS. 1-1 AND 1-2
WHEREAS, the City Council desires to promote develop-
ment of an area of the City generally paralleling T.H.55
from County Road 116 to the west of Willow Drive; and
WHEREAS, the City Council is of the opinion that proper
development of the area in accordance with the City's
Comprehensive Plan is essential to the economic viability of
the area and the orderly development of the City as a whole;
and
WHEREAS, the City Council has ordered the preparation
of a development program for the area in accordance with
Minnesota Statutes, Chapter 472A (Municipal Development
District Act) and of tax increment financing plans (TIF
Plans) for portions of the area in accordance with Minnesota
Statutes, Sections 273.71 through 273.78 (TIF Act); and
WHEREAS, the development program and TIF plans are
contained in a document entitled "Development District No. 1
and Tax Increment Financing Plan for Tax Increment District
No. 1-1 and Tax Increment District No. 1-2", dated January,
1985, now on file with the City Clerk; and
WHEREAS, the City Council has consulted with the City's
Planning Department and has determined that the development
program and TIF plans are consistent with the general plan
for development of the City as a whole; and
WHEREAS, the City Council proposes to establish Develop-
ment District No. 1 and TIF Districts Nos. 1-1 and 1-2 for
the purpose of financing public improvements and encouraging
investment in the area; and
WHEREAS, the City Council has forwarded copies of the
TIF plans to Hennepin County and to Independent School
Districts Nos. 284, 287, 879 and 883; and
WHEREAS, the City Council has this date conducted the
required public hearing on the development program and TIF
plans, at which the views of all interested parties were
heard; and
WHEREAS, the City Council has fully reviewed the
contents of the development program and TIF plans.
NOW, THEREFORE, BE IT RESOLVED by the City Council of
the City of Medina, Minnesota:
1. There is a need for new development within the area to
provide employment opportunities for residents of the
City and surrounding communities, to improve the tax
base of the City and to improve the general economy of
the state.
2. It is found that the area of the development district
is currently characterized by undeveloped and under-
developed land and a lack of adequate municipal services.
3. It is necessary for the orderly and beneficial develop-
ment of the area to ensure the construction and provide
moneys for the payment of the cost of certain public
improvements within the development district, including
a municipal water distribution system.
4. It is determined that implementation of the development
program is essential to the economic well-being of the
City and its citizens.
5. It is necessary for the sound and orderly development
of the area and of the City as a whole and for the
protection and preservation of the public health,
safety and general welfare, that the powers authorized
by the Municipal Development District Act and the TIF
Act be exercised by the City to provide public financial
assistance to the area.
6. It is the opinion of the City Council that development
within the TIF districts cannot reasonably be expected
to occur solely through private investment in the
reasonable foreseeable future and that the use of tax
increment financing is necessary.
7. It is found that the development district program and
TIF plans conform to the general plans for the develop-
ment of the City as a whole.
8. It is determined that the TIF plans will afford maximum
opportunity, consistent with the sound needs of the
City as a whole, for the development of the area by
private enterprise.
9. It is declared to be the intent of the City to use the
powers granted to it by the Municipal Development
District Act and Tax Increment Financing Act to achieve
the objectives of the Acts.
10. The development program is approved and development
district No. 1 is established.
11. The TIF plans are approved and TIF districts Nos. 1-1
and 1-2 are established.
12. The proposed TIF districts will be economic development
TIF districts, as defined by Minnesota Statutes,
Section 273.73, Subd. 12.
13. The geographic boundaries of the development district
and TIF districts are as described in the development
program and TIF plans, which documents are adopted
herein by reference.
14. The City elects to be treated under Section 273.76,
Subd. 3(b) of the TIF Act for purposes of Minnesota
Statues, Chapter 473F.
15. The City Clerk is authorized and directed to transmit a
certified copy of this resolution together with a
certified copy of the development program and TIF plans
to the County Auditor of Hennepin County with a request
that the original assessed valuation of the TIF districts
be certified to the City pursuant to Section 273.76,
Subd. 1 of the TIF Act and to file a copy of the
development program and TIF plan with the Minnesota
Commissioner of Energy and Economic Development.
16. The City Council shall at the appropriate time take
action to issue and sell its general obligation bonds
pursuant to the TIF Act to finance the public costs
identified in the TIF plans.
Dated:
Thas d= son, Mayor
ATTEST:
Ae-n,rt,aJ /gac.,C.eJ
Donna Roehl, City Clerk
The motion for the adopti� of the foregoing resolution was
duly seconded by member and upon vote
being taken thereon, the following voted in favor thereof:
4/7alexSon Pe/5er� /1/utatie//, /Ne/demdz- 6G4t_ v
and the following voted against same:
do,Je
Whereupon said resolution was declared duly passed and
adopted.