RES 90-4 RESOLUTION 90 - 4
RESOLUTION FOR THE CITY OF ELK RIVER
ECONOMIC DEVELOPMENT AUTHORITY
A RESOLUTION APPROVING THE FINDINGS OF CONDITIONS FOR THE
CREATION OF TAX INCREMENT FINANCING DISTRICT NO. 8
AS A REDEVELOPMENT DISTRICT
The Economic Development Authority (the EDA) for the City
of Elk River (the City) acting pursuant to its authority under
the Minnesota Tax Increment Financing Act (Minnesota Statutes,
Sections 469.174, et seq. ) hereby finds:
FINDINGS
1 . That City of Elk River Development District No. 1 was
designated as a municipal development district pursuant to
Minnesota Statutes, Chapter 469 and that the Development
Program for Development District No. 1 was approved by
resolution of the City Council for the City of Elk River
dated April 1, 1985, as amended by resolutions of the City
Council of the City of Elk River dated January 27 , 1986,
November 30, 1987 , and October 9, 1989 .
2 . That the Development Program for Development District No.1
anticipates and provides for the adoption of Tax Increment
• Financing (TIF) Plans and establishment of Tax Increment
Financing Districts to assist in the financing of the
public improvements and other public costs necessary to
attract and retain new development in the Development
District .
3 . That the proposed TIF District No. 8 will be a
Redevelopment District pursuant to Minnesota Statutes
Section 469. 174, Subd. 10 and conforms to the
Comprehensive Guide Plans and the Development Program for
the Development District.
4. The City of Elk River Economic Development Authority does
hereby find that the following conditions exist within
proposed TIF District No. 8.
A. Parcels consisting of 70 percent of the area of the
district are occupied by buildings, streets, utilities
or other improvements and more than 50 percent of the
buildings, not including outbuildings, are
structurally substandard to a great degree requiring
substantial renovation or clearance;
B. That proposed TIF District No. 8 consists of the
following property with the existing conditions as
411 noted:
PID No. 75-405-0130 and 75-405-0110 - Violation
of fire codes, structurally unsound, safety
violations, leaking roof, water damage,
deteriorated exterior and substandard electrical
service.
5 . The EDA is presently reviewing the proposed redevelopment
plan and will meet again on August 13, 1990, to make a
determination on the adoption of TIF District No. 8.
6. That the tax increment financing plan will afford maximum
opportunity, consistent with the needs of the City, for
the redevelopment of the project by private enterprise.
7 . That the proposed redevelopment would not be reasonably
expected to occur solely through private investment as a
result of the need to clear blighted structures.
8. That a public hearing and notice thereof has been
published in the official newspaper of the City and was
held and that an opportunity to be heard was granted to
all residents of the City and all other interested persons.
RESOLVED
A. That the EDA of the City of Elk River hereby adopts each
of the findings set forth above.
B. That the EDA of the City of Elk River hereby finds that
conditions exist for the creation of a Redevelopment
District pursuant to Minnesota Statutes Section 469 . 174,
• Subd. 10(1) .
C. That the EDA of the City of Elk River hereby directs its
staff and consultants to proceed to take the steps
necessary to create TIF District No. 8.
The foregoing resolution was introduced by Commissioner
Kropuenske and duly seconded by Commissioner Schuldt . The
following voted in favor of the resolution:
Chairman Tralle, Commissioners Schuldt, Kropuenske,
Gongoll, Dwyer, and Dobel
The following voted against:
None
The following were absent:
Commissioner Holmgren
Whereupon the resolution was adop =d July 23, 1991
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ATTEST: James A. Tralle, President
Patrick D. Klaers, Executive Director