HomeMy Public PortalAbout1986-018Member �2/3e
moved its adoption:
introduced the following resolution and
CITY OF MEDINA
RESOLUTION NO. fC-j 1
RESOLUTION APPROVING A MODIFIED
DEVELOPMENT PROGRAM AND ESTABLISHED
ENLARGED BOUNDARIES FOR
DEVELOPMENT DISTRICT NO. 1
WHEREAS, the City of Medina (the City) has previously
established Development District No. 1 in accordance with Minn.
Stat. Chapter 472A (the Act) by resolution No.:5- 4 adopted the
a9 day of ._ic,-huQvti , 1985; and
WHEREAS, the purpose of establishing Development District
No. 1 is to promote development in an area of the City which is
characterized by undeveloped and underdeveloped land and a lack
of adequate municipal services; and
WHEREAS, pursuant to the development program (the Develop-
ment Program) adopted in connection with the establishment of the
Development District, the City in 1985 sold tax increment
financing bonds (the Bonds), the proceeds of which have been and
will be used for the construction of public improvements within
Development District No. 1; and
WHEREAS, the City wishes to include within Development
District No. 1 other parcels adjacent to it which share common
characteristics and which will benefit from the public
improvements which have been constructed in phase I and those
which will be constructed in phase II of the Development Program;
and
WHEREAS, by resolution adopted February 18, 1986, the City
Council authorized the preparation of a modified Development
Program and called for a public hearing on the Development
Program to be held March 4, 1986; and
WHEREAS, a modified Development Program has been prepared
which proposes to enlarge the boundaries of Development District
No. 1, a copy of which is on file in the office of the City Clerk
and is available for public inspection; and
WHEREAS, notice of the public hearing on the enlargement of
Development District No. 1 has been published in the official
City newspaper in accordance with the requirements of the Act;
and
WHEREAS, the City Council has fully reviewed the contents of
the modified Development Program and has this day conducted a
public hearing thereon, at which hearing the views of all inter-
ested parties were heard.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Medina, Minnesota as follows:
1. There is a need for new development within the area of the
City included within the enlarged boundaries of Development
District No. 1 to provide employment opportunities for
residents of the City and of surrounding communities, to
improve the tax base of the City and to enhance the general
economy of the state.
2. It is found that the area of the enlarged Development
District No. 1 is characterized by undeveloped and underde-
veloped land and a lack of adequate municipal services.
3. It is found that implementation of the modified Development
Program is essential to the economic well-being of the City
and its citizens.
4. It is found that the modified Development Program is consis-
tent with the general plans for development of the City.
5. The additional property to be included within Development
District No. 1 will benefit from the public improvements
which have been and will be constructed within the Develop-
ment District and the revenues derived from new development
in the area will provide additional funds for payment of the
Bonds issued pursuant to Minn. Stat., Section 273.73 et seq.
6. It is declared to be the intent of the City to use the
powers granted to it by the Act to achieve the objectives of
the Act.
7. The modified Development Program is approved and the en-
larged boundaries of Development District No. 1 are estab-
lished, which boundaries are as described in the Development
Program attached hereto and incorporated herein by refer-
ence.
8. The City Clerk is authorized and directed to file a copy of
the Development Program with the Minnesota commissioner of
energy and economic development and to take any and all
other steps required by law to effect the intent of this
resolution.
DATED: &ALL 4 , 1986.
ATTEST:
Donna Roehl, Clerk/Treasurer
The motion for the adoption of the foregoing resolution was duly
seconded by member eiV i elle // and upon vote being taken
thereon, the following voted in favor thereof:
0,4nde-f5co,.//d»hhe //r ke/scr, SCh e-re
and the following voted against same: , ,
Holve
Whereupon said resolution was declared duly passed and adopted.
1,th5Ght • Alt /der»et