HomeMy Public PortalAbout1990-15Member
adoption:
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introduced the following resolution and moved its
CITY OF MEDINA
RESOLUTION NO.
RESOLUTION ADOPTING A MODIFIED DEVELOPMENT
PROGRAM FOR DEVELOPMENT DISTRICT NO. 1 AND
MODIFIED TAX INCREMENT FINANCING PLANS FOR
TAX INCREMENT FINANCING DISTRICT
NOS. 1-1, 1-2, 1-3, 1-4 AND 1-5
BE IT RESOLVED by the City Council (the Council) of the City of Medina,
Minnesota (the City) as follows:
Section 1. Recitals.
1.01. On January 29, 1985, the City adopted a Development Program
(Program) for Development District No. 1, pursuant to and in accordance with
Minnesota Statutes Section 469.124 through 469.134. The City modified the
Program on March 4, 1986, and April 21, 1987, to expand the boundaries of
Development District No. 1.
1.02. Since 1985, the City established Tax Increment Financing District
Nos. 1-1, 1-2, 1-3, 1-4 and 1-5 (the TIF Districts) within Development District No.
1, pursuant to Minnesota Statutes Section 469.174 through 469.179.
1.03. It has been proposed that the City modify the Program and modify the
budgets of the TIF Districts to authorize the expenditure of increment for
additional public improvements within Development District No. 1.
1.04. The Council has investigated the facts and has caused to be prepared
a modified Program for Development District No. 1, describing the additional
actions to be undertaken by the City to aid the development of property the
Development District and modified Plans for the TIF Districts outlined additional
public improvements to be funded with increment from the TIF Districts.
1.05. The City has performed all actions required by law to be performed
prior to the modification of the Program and of the Plans including, but not limited
to, notification of Hennepin County and Independent School District Nos. 879, 883
and 284; a review by the City planning commission of the modified Program and
the modified Plans for their consistency with the general plans for development of
the City; and holding a public hearing regarding the modified Program and Plans
upon such notice as is required by law.
1.06. The modified Program and modified Plans are contained in a
document entitled "Modified Development Program, Development District No. 1
and Modified Tax Increment Financing Plans, Tax Increment Financing District
Nos. 1-1, 1-2, 1-3, 1-4 and 1-5, City of Medina, Minnesota," dated April 3, 1990,
and on file in the office of the City Clerk -Treasurer.
1.07. The City Council has fully reviewed the contents of the modified
Program and Plans and has on this date conducted a public hearing thereon at
which the views of all interested persons were heard.
Section 2. Findings Related to the Modified Program for Development
District No. 1.
2.01. The Council hereby finds that the modified Program for Development
District No. 1 is intended, and in the judgment of the Council, its effect will be to
provide an impetus for additional development in the City, increase employment
opportunities for persons residing within the City or nearby and otherwise promote
the public purposes and objectives of the Development District.
2.02. It is further found and determined that:
a) The land within Development District No. 1 would not be made
available for development without the public intervention and
financial assistance described in the modified Program and Plans;
b) The modified Program will afford maximum opportunity, consistent
with the sound needs of the City as a whole, for the development of
the District by private enterprise; and
c) In accordance with the findings of the planning commission, the
modified Program conforms to the general plans for development of
the City as set forth in the City's comprehensive plan.
Section 3. Findings Related to the Modification of Tax Increment Financing
District Nos. 1-1, 1-2, 1-3, 1-4 and 1-5.
3.01. It is the opinion of the Council that development of the properties
included within the boundaries of the TIF Districts would not reasonably be
expected to occur solely through private investment within the reasonably
foreseeable future and that the use of tax increment financing is therefore
necessary.
3.02. The Council finds that the modified Plans for the TIF Districts
conform to the general plans for development of the City, based upon the
recommendations of the planning commission.
3.03. The Council further finds that the modifications of the budgets for
the TIF Districts is intended, and in the judgment of the Council, their effect will
be to promote the public purposes and accomplish the objectives specified in the
modified Plans.
3.04. The Council has relied upon the opinions and recommendations of its
staff and planning commission and the personal knowledge of the members of the
Council in reaching its conclusion regarding the modification of the Plans for the
TIF Districts.
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3.05. The Council hereby reaffirms its findings that the TIF Districts are
economic development tax increment financing districts.
Section 4. Approval of the Modified Development Program and Modified
Tax Increment Financing Plans.
4.01. The modified Development Program for Development District No. 1
and the modified Tax Increment Financing Plans for Tax Increment Financing
District Nos. 1-1, 1-2, 1-3, 1-4 and 1-5 are hereby approved and adopted.
4.02. 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 Tax Increment Financing Plans to Hennepin County and
the Minnesota Commissioner of Trade and Economic Development.
DATED: '17 ---
ATTEST:
, 1990.
Thomas Anders: , Mayor
Donna Roehl, Clerk -Treasurer
The motion for the adoption of the foregoing resolution was duly seconded by /Ze i 3
s r.antupon vote being taken thereon, the following voted in favor thereof:
nd G✓'5 o r,, C-c, ,y-, L-
and the following voted against same:
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Whereupon said resolution was declared duly passed and adopted.
ME230:MedRes2
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