HomeMy Public PortalAbout2011-090 Resolution Transferring Control, Authority & Op. of Devel. District No. 1Member Siitari introduced the following resolution and moved its adoption:
CITY OF MEDINA
RESOLUTION NO.2011-90
RESOLUTION TRANSFERRING CONTROL, AUTHORITY AND
OPERATION OF DEVELOPMENT DISTRICT NO. 1 AND TAX
INCREMENT FINANCING DISTRICT NO. 1-9 TO THE MEDINA
ECONOMIC DEVELOPMENT AUTHORITY
WHEREAS, on September 20, 2011, the city council of the city of Medina (the "City")
adopted an enabling resolution establishing the Medina Economic Development Authority (the
"Authority") pursuant to Minnesota Statutes, Sections 469.090 to 469.108; and
WHEREAS, the City previously created Development District No. 1 (the "Development
District') pursuant to Minnesota Statutes, Sections 469.124 to 469.134; and
WHEREAS, the City also previously created Tax Increment Financing District No. 1-9, a
redevelopment district ("TIF District No. 1-9") within the Development District, pursuant to
Minnesota Statutes, Sections 469.174 to 469.179; and
WHEREAS, Minnesota Statutes, Section 469.094, Subd. 2, authorizes the City to transfer
the control, authority and operation of the Development District and TIF District No. 1-9 to the
Authority and to require that the Authority accept control, authority and operation of the same.
NOW, THEREFORE, BE IT RESOLVED by the city council of the city of Medina as
follows:
1. The City hereby transfers to the Authority the control, authority, and operation of the
Development District.
2. The City hereby transfers to the Authority the control, authority, and operation of
TIF District No. 1-9 within the Development District.
3. The City hereby assigns to the Authority all documents including the Development
District Program, the TIF Plan for TIF District No. 1-9, resolutions approving the establishment and
modification of the Development District and TIF District, and any and all contracts, agreements
and other documents between the City and private developers which relate to the development or
redevelopment of property contained within the Development District or TIF District No. 1-9.
4. The City hereby assigns to the Authority all funds and monies held by the City in
connection with the Development District or TIF District No. 1-9, including those accounts listed on
Exhibit A attached hereto.
Resolution No. 2011-90
October 4, 2011
5. Pursuant to Minnesota Statutes, Section 469.094, Subd. 2, the Authority is hereby
required to accept control, authority and operation over the Development District and TIF District
No. 1-9 by resolution and, upon acceptance, is authorized to exercise all of the powers that the City
would have in respect to the Development District and TIF District No. 1-9.
Dated: October 4, 2011.
s.
1 -
T.M. Crosby, Jr., Mayor
ATTEST:
Scott T. Johnson, City Administrator -Clerk
The motion for the adoption of the foregoing resolution was duly seconded by member Pederson
and upon vote being taken thereon, the following voted in favor thereof:
Crosby, Martinson, Pederson, Siitari
And the following voted against same: (Absent: Weir)
None
Whereupon said resolution was declared duly passed and adopted.
Resolution No. 2011-90 2
October 4, 2011
EXHIBIT A
List of Specific Accounts Transferred by the City to the Authority
TIF 1-9 Fund 406
Resolution No. 2011-90 A-1
October 4, 2011