RES 14-01 HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE
CITY OF ELK RIVER,MINNESOTA
• CITY OF ELK RIVER
SHERBURNE COUNTY
STATE OF MINNESOTA
RESOLUTION NO. 14-01
RESOLUTION RECOMMENDING THE CITY COUNCIL CALL A HEARING
TO MODIFY DEVELOPMENT DISTRICT NO. 1, ESTABLISH TAX
INCREMENT FINANCING DISTRICT NO. 24 THEREIN AND ADOPT A
MODIFICATION TO THE DEVELOPMENT PROGRAM AND ADOPT THE
TAX INCREMENT FINANCING PLAN THEREFOR.
WHEREAS,There is a proposal to modify Development District No. 1,establish Tax Increment
Financing District No.24,adopt a Modification to the Development Program(the"Development Program
Modification"),and adopt the Tax Increment Financing.Plan(the"TIF Plan")therefor(the Development
Program Modification and the TIF Plan are referred to collectively herein as the"Program Modification
and TIF Plan"), all pursuant to and in conformity with applicable law, including Minnesota Statutes,
Sections 469.124 to 469.134,and Sections 469.174 to 469.1794,inclusive,as amended(the"Act");and
WHEREAS, the Housing and Redevelopment Authority in and for the City of Elk River,
Minnesota(the"HRA")has received a report and other information relating to the Program Modification
and TIF Plan and the proposed development of an 84-unit senior living townhome community consisting
411 of approximately 49 1-bedroom units, 35 2-bedroom units, and a clubhouse activity center (the
`Blackhawk Woods Project"); and
NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the Housing and
Redevelopment Authority in and for the City of Elk River,Minnesota as follows:
1. The HRA hereby finds that the Program Modification and TIF Plan and the Blackhawk
Woods Project will increase decent, safe and sanitary affordable housing for seniors in the City and the
state and preserve and enhance the tax base of the City and the state.
2. The HRA recommends that the City Council call for a public hearing and consider
establishing Tax Increment Financing District No. 24 and adopting the Program Modification and TIF
Plan for the Blackhawk Woods Project.
Approved by the Housing and Redevelopment Authority in and for the City of Elk River,
Minnesota this 3rd day of March, 2014.
✓gig\-_
Chair
ATTEST:
• cretary
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