RES 89-2 THE ECONOMIC DEVELOPMENT AUTHORITY
FOR THE
CITY OF ELK RIVER, MINNESOTA
4111.- RESOLUTION NO. 89-2
A RESOLUTION APPROVING THE FINDINGS OF CONDITIONS FOR THE
CREATION OF TAX INCREMENT FINANCING DISTRICT NO. 6 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 January 27 , 1986 , and November 30, 1987 .
2 . That the Development Program for Development District No. 1
anticipates and provides for the adoption of Tax Increment
Financing Plans and the establishment of Tax Increment
Financing Districts to assist in the financing of the public
4111 improvements and other public costs necessary to attract and
retain new development in the Development District .
3 . That the proposed TIF District No. 6 will be Redevelopment
District pursuant to Minnesota Statutes Section 469.174 ,
Subd. 10.
4 . The City of Elk River Economic Development Authority does
hereby find that the following conditions exist within
proposed TIF District No. 6.
A. 70% of the parcels in the districts are occupied by
buildings, streets, utilities or other improvements and
more than 50% of the buildings, not including out
buildings, are structurally substandard to a great degree
requiring substantial renovation or clearance;
B. That proposed TIF District No. 6 consists of the
following properties with the existing conditions as
noted:
i. Parcel 1
PID No. 115-025-200110 - Violation of fire codes,
structurally unsound, safety violations, substandard
electrical service.
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Page 2
ii. PID No. 115-025-200120 - Violation of fire codes,
inadequate egress, sagging roof, sloping floors,
4110. numerous safety violations, substandard electrical
service.
iii. PID No. 115-025-200010 - Vacant
iv. PID No. 115-025-200090 - Violation of fire codes,
structurally unsound, inadequate egress, numerous
safety violations, substandard electrical service.
RESOLVED
A. That the EDA of the City of Elk River hereby adopts each
and every one 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 and implement TIF District No. 6.
The foregoing resolution was introduced by Commissioner Dobel and
duly seconded by Commissioner Kropuenske.
0, The following voted in favor of the resolution:
Commissioners Dobel, Kropuenske, Schuldt, Tralle, and
Holmgren
The following voted against:
None
The following were absent:
None
Whereupon the resolution was adopted September 11, 1989 .
t l
James Tralle, President
ATTEST:
4 Patrick D. Klaers, Executive Director