HomeMy Public PortalAbout1987-026Councilmember introduced the following resolution and
moved its adoption:
CITY OF MEDINA
RESOLUTION NO. 87-26
RESOLUTION ADOPTING A MODIFICATION TO
THE DEVELOPMENT PROGRAM FOR DEVELOPMENT
DISTRICT NO. 1 AND THE TAX INCREMENT FINANCING
PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 1-1
WHEREAS, it has as been proposed that the City modify the Development
Program for Development District No. 1 by expanding the area within the
Development District and the Tax Increment Financing Plan for Tax Increment
Financing District No. 1-1 by reducing the size of the TIF District, all
pursuant to and in accordance with Minnesota Statutes, Chapter 472A, as
amended, and Minnesota Statutes, Sections 273.71 to 273.78, inclusive,
amended; and
WHEREAS, the Council has investigated the facts and has caused to be
prepared a modified Development Program for Development District No. 1,
describing the land to be added to the Development District and has caused to
be prepared a modified Tax Increment Financing Plan describing the property to
be deleted from Tax Increment Financing District No. 1-1, and other matters
relating thereto; and
WHEREAS, the City has performed all actions required by law to be per-
formed prior to the modification of Development District No. 1 and Tax
Increment Financing District No. 1-1 and the adoption of the modified Develop-
ment Program and modified Tax Increment Financing Plan relating thereto,
including, but not limited to, notification of the county and school district,
consultation with the City planning department regarding the modified
Development Program and the modified Tax Increment Financing Plan; and holding
as
a public hearing regarding the Program and the Plan upon such notice as is
required by law; and
WHEREAS, the modified Development Program and modified Tax Increment
Financing Plan are contained in a document entitled "Development Program,
Development District No. 1 and Tax Increment Financing Plan, Tax Increment
Financing District No. 1-1, City of Medina, Minnesota," which is on file in
the office of the City Clerk -Treasurer.
NOW, THEREFORE, BE IT RESOLVED BY the City Council of the City of Medina,
Minnesota, as follows:
1. The Council hereby finds that the modification of Development District
No. 1 by expanding its boundaries in accordance with the Program is
intended, and in the judgment ,of the Council, its effect will be to
provide an impetus for commercial, industrial and residential development
in the City, increase employment, and otherwise promote certain public
purposes and accomplish certain objectives as specified in the modified
Development Program.
2. The Council finds that the modified Tax Increment Financing Plan for Tax
Increment Financing District No. 1-1, which reduces the size of the TIF
District by deleting property unlikely to be developed within the reason-
ably foreseeable future, conforms to the general plan for development of
the City and, in the judgment of the Council, its effect will be to
promote the public purposes and accomplish the objectives specified in
the modified Tax Increment Financing Plan and Development Program.
3. The modified Development Program for Development District No. 1 and the
modified Tax Increment Financing Plan for Tax Increment Financing
District No. 1-1 are hereby approved and adopted.
4. The geographic boundaries of enlarged Development District No. 1 and of
reduced Tax Increment Financing District No. 1-1 are described in the
Development Program and Tax Increment Financing Plan therefor and are
incorporated herein by reference.
5. The City Clerk -Treasurer is authorized and directed to transmit a
certified copy of this resolution together with a certified copy of the
modified Development Program and the modified Tax Increment Financing
Plan to the Auditor of Hennepin County with a request that the original
assessed valuation of the property hereby deleted from Tax Increment
Financing District No. 1 be certified to the City pursuant to Section
273.76, Subd. 1 of the Tax Increment Financing Act and the same be
adjusted in the records of the County Auditor.
6. The City Clerk -Treasurer is hereby authorized and directed to file a copy
of the modified Development Program and modified Tax Increment Financing
Plan with the Minnesota Commissioner of Energy and Economic Development.
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Councilmember ))/
moved its adoption:
introduced the following resolution and
CITY OF MEDINA
RESOLUTION 87-26
RESOLUTION ADOPTING A MODIFICATION TO
THE DEVELOPMENT PROGRAM FOR DEVELOPMENT
DISTRICT NO. 1 AND THE TAX INCREMENT FINANCING
PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 1-1
WHEREAS, it has as been proposed that the City modify the Development
Program for Development District No. 1 by expanding the area within the
Development District and the Tax Increment Financing Plan for Tax Increment
Financing District No. 1-1 by reducing the size of the TIF District, all
pursuant to and in accordance with Minnesota Statutes, Chapter 472A, as
amended, and Minnesota Statutes, Sections 273.71 to 273.78, inclusive, as
amended; and
WHEREAS, the Council has investigated the facts and has caused to be
prepared a modified Development Program for Development District No. 1,
describing the land to be added to the Development District and has caused to
be prepared a modified Tax Increment Financing Plan describing the property to
be deleted from Tax Increment Financing District No. 1-1, and other matters
relating thereto; and
WHEREAS, the City has performed all actions required by law to be per-
formed prior to the modification of Development District No. 1 and Tax
Increment Financing District No. 1-1 and the adoption of the modified Develop-
ment Program and modified Tax Increment Financing Plan relating thereto,
including, but not limited to, notification of the county and school district,
consultation with the City planning department regarding the modified
Development Program and the modified Tax Increment Financing Plan; and holding
a public hearing regarding the Program and the Plan upon such notice as is
required by law; and
WHEREAS, the modified Development Program and modified Tax Increment
Financing Plan are contained in a document entitled "Development Program,
Development District No. 1 and Tax Increment Financing Plan, Tax Increment
Financing District No. 1-1, City of Medina, Minnesota," which is on file in
the office of the City Clerk -Treasurer.
NOW, THEREFORE, BE IT RESOLVED BY the City Council of the City of Medina,
Minnesota, as follows:
1. The Council hereby finds that the modification of Development District
No. 1 by expanding its boundaries in accordance with the Program is
intended, and in the judgment of the Council, its effect will be to
provide an impetus for commercial, industrial and residential development
in the City, increase employment, and otherwise promote certain public
purposes and accomplish certain objectives as specified in the modified
Development Program.
2. The Council finds that the modified Tax Increment Financing Plan for Tax
Increment Financing District No. 1-1, which reduces the size of the TIF
District by deleting property unlikely to be developed within the reason-
ably foreseeable future, conforms to the general plan for development of
the City and, in the judgment of the Council, its effect will be to
promote the public purposes and accomplish the objectives specified in
the modified Tax Increment Financing Plan and Development Program.
3. The modified Development Program for Development District No. 1 and the
modified Tax Increment Financing Plan for Tax Increment Financing
District No. 1-1 are hereby approved and adopted.
4. The geographic boundaries of enlarged Development District No. 1 and of
reduced Tax Increment Financing District No. 1-1 are described in the
Development Program and Tax Increment Financing Plan therefor and are
incorporated herein by reference.
5. The City Clerk -Treasurer is authorized and directed to transmit a
certified copy of this resolution together with a certified copy of the
modified Development Program and the modified Tax Increment Financing
Plan to the Auditor of Hennepin County with a request that the original
assessed valuation of the property hereby deleted from Tax Increment
Financing District No. 1 be certified to the City pursuant to Section
273.76, Subd. 1 of the Tax Increment Financing Act and the same be
adjusted in the records of the County Auditor.
6. The City Clerk -Treasurer is hereby authorized and directed to file a copy
of the modified Development Program and modified Tax Increment Financing
Plan with the Minnesota Commissioner of Energy and Economic Development.
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7. The City may at the appropriate time take action to issue and sell its
general obligation bonds pursuant to the Tax Increment Financing Act to
finance the public costs identified in the modified Development Program
and modified Tax Increment Financing Plan.
Dated: April 21, 1987.
Thoma- nderson or
ATTEST:
Donna Roehl, Clerk -Treasurer
The motion for the adoption of the foregoing resolution was duly seconded by
member -YG'e'r44,' and upon vote being taken thereon, the following
voted in favor thereof:
,,
and the following voted against same:
Whereupon said resolution was declared duly passed and adopted.
0045RE65.E40
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