97-012 RESRESOLUTION 97- 12
A RESOLUTION FOR THE CITY OF ELK RIVER, MINNESOTA
A RESOLUTION FOR THE CITY OF ELK RIVER RELATING TO
MODIFICATION OF THE DEVELOPMENT PROGRAM FOR
DEVELOPMENT DISTRICT NO. 1
AND THE TAX INCREMENT FINANCING PLAN FOR
TAX INCREMENT FINANCING DISTRICT NO. 16
BE IT RESOLVED by the City Council (the Council) of the City of Elk
River, Minnesota (the City), as follows:
Section 1. - Recitals.
1.01. It has been proposed and adopted by the Housing and
Redevelopment Authority for the City of Elk River, Minnesota (the HRA) that
the HRA establish Tax Increment Financing District No. 16 within
Development District No. 1 pursuant to and in accordance with Minnesota
Statutes.
1.02. The HRA has caused to be prepared, and the Council has
investigated the facts with respect thereto, a proposed Tax Increment
Financing Plan for Tax Increment Financing District No. 16 (the Plan).
1.03. The HRA and the City have performed all actions required by
law to be performed prior to the establishment of Tax Increment Financing
District No. 16 and the adoption of the Plan relating thereto.
1.04. The Council hereby determines that it is necessary and in the
best interest of the City at this time to establish Tax Increment Financing
District No. 16 and the adoption of the Plan relating thereto.
Section 2. - Findings for the Establishment of Tax Increment
Financing District No. 16.
2.01. The Council hereby finds, determines, and declares that the
establishment of Tax Increment Financing District No. 16 located within
Development District No. 1 is intended and, in the judgment of this Council,
its effects will be, to provide an impetus for commercial development,
increase employment, and otherwise promote certain public purposes and
accomphsh certain objectives as specified in the Plan for Tax Increment
Financing District No. 16.
2.02. The Council further finds, determines, and declares that Tax
Increment Financing District No. 16 qualifies as a Redevelopment District
pursuant to Minnesota Statutes, Section 469.174, Subdivision 10.
2.03. The Council further finds, determines, and declares that the
proposed development, in the opinion of the Council, would not occur solely
through private investment within the reasonably foreseeable future and,
therefore, the use of Tax Increment Financing is deemed necessary.
2.04. The Council further finds, determines, and declares that the
proposed Plan for Tax Increment Financing District No. 16 conforms to the
Comprehensive Plan of the City.
2.05. The Council further finds, determines, and declares that the
proposed Plan for Tax Increment Financing District No. 16 will afford
maximum opportunity, consistent with the sound needs of the City as a
whole, for the development or redevelopment of areas within Development
District No. I by private enterprise.
2.06. The Council determines and declares that Tax Increment
Financing District No. 16 located within Development District No. I is
hereby established.
Section 3. - Adoption of the Plan.
3.01. The Plan presented to the Council on this date, is hereby
approved and adopted and shall be placed on file in the office of the City
Clerk.
Section 4. - Implementation of the Plan.
The City Administrator and Assistant City Administrator are authorized and
directed to proceed with the implementation of this Plan, and for this
purpose, to negotiate, draft, prepare, and present to the Council for its
consideration, all future plans, resolutions, documents, and contracts.
Adopted by the City Council of the City of Elk River, Minnesota, this 27th
day of January, 1997.
TEST:
~andra A. Thackeray, City Clerk
,FI.~n~5' A. Duit~ni~n, Mayor