RES 18-25City of Ok Bever
Cott' CouncH
Resolution 18-2,;_
A Resolution of the City Council of the City of Elk River Adopting a
Modification to the Development Program for Development District No.
and Establishing a Tax Increment Financing (Housing) District No. 25
Therein and Adopting a Tax Increment Plan Therefor
WHEREAS, the City Council of the City of Elk River (the "City's has heretofore
established Development District No. 1 and adopted a Development Program therefor. It
has been proposed that the City adopt a Modification to the Development Program (the
"Development Program Modification") for Development District No. 1 (the "Development
District") and establish Tax Increment Financing District (Housing) No. 25 (the "District")
therein and adopt a Tax Increment Financing Plan (the "TIF Plan") therefor (the
Development Program Modification and the TIF Plan are referred to collectively herein as
the "Program and Plan"); all pursuant to and in conformity with applicable law, including
Minnesota Statutes, Sections 469.124 to 469.133 and Sections 469.174 to 469.1794, all
inclusive, as amended, (the "Act") all as reflected in the Program and Plan, and presented for
the Council's consideration; and
WHEREAS, the City has investigated the facts relating to the Program and Plan and has
caused the Program and Plan to be prepared; and
WHEREAS, the City has performed all actions required by law to be performed prior to
the establishment of the District and the adoption and approval of the proposed Program
and Plan, including, but not limited to, notification of Sherburne County and Independent
School District No. 728 (Elk River) having taxing jurisdiction over the property to be
included in the District, a review of and written comment on the Program and Plan by the
City Planning Commission, and the holding of a public hearing upon published notice as
required by law; and
WHEREAS, certain written reports (the "Reports") relating to the Program and Plan and
to the activities contemplated therein have heretofore been prepared by staff and consultants
and submitted to the Council and/or made a part of the City files and proceedings on the
Program and Plan. The Reports include data, information and/or substantiation
constituting or relating to the basis for the other findings and determinations made in this
resolution. The Council hereby confirms, ratifies and adopts the Reports, which are hereby
incorporated into and made as fully a part of this resolution to the same extent as if set forth
in full herein; and
WHEREAS, the City is not modifying the boundaries of Development District No. 1, but
is however, modifying the Development Program therefor.
►O1EREI Rr
NATURE
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk
River, Minnesota, as follows:
Section 1. Findings for the Adoption and Approval of the Development Program
Modification.
1.01. The Council approves the Development Program Modification, and
specifically finds that: (a) the land within the Development District would not be available
for redevelopment without the financial aid to be sought under this Development Program;
(b) the Development Program Modification will afford maximum opportunity, consistent
with the needs of the City as a whole, for the development of the Development District by
private enterprise; and (c) that the Development Program Modification conforms to the
general plan for the development of the City as a whole.
Section 2. Findings for the Establishment of Tax Increment Financing District
(Housing) No. 25.
2.01. The Council hereby finds that Tax Increment Financing District (Housing)
No. 25 is in the public interest and is a "housing district" under Minnesota Statutes, Section
469.174, Subd. 11 of the Act.
2.02. The Council further finds that the proposed development would not occur
solely through private investment within the reasonably foreseeable future and, therefore,
the use of tax increment financing is deemed necessary; that the Program and Plan conform
to the general plan for the development or redevelopment of the City as a whole; and that
the Program and Plan will afford maximum opportunity consistent with the sound needs of
the City as a whole, for the development or redevelopment of the District by private
enterprise.
2.03. The Council further finds, declares and determines that the City made the
above findings stated in this Section and has set forth the reasons and supporting facts for
each determination in writing, attached hereto as Exhibit A.
Section 3. Public Purpose.
3.01. The adoption of the Program and Plan conforms in all respects to the
requirements of the Act and will help fulfill a need to develop an area of the City which is
already built up, to provide housing opportunities, to improve the tax base and to improve
the general economy of the State and thereby serves a public purpose. For the reasons
described in Exhibit A, the City believes these benefits directly derive from the tax
increment assistance provided under the TIF Plan. A private developer will receive only the
assistance needed to make this development financially feasible. As such, any private
benefits received by a developer are incidental and do not outweigh the primary public
benefits.
Section 4. Approval and Adoption of the Program and Plan.
earrAII Ir
NATURE
4.01. The Program and Plan, as presented to the Council on this date, including
without limitation the findings and statements of objectives contained therein, are hereby
approved, ratified, established, and adopted and shall be placed on file in the office of the
City Administrator.
4.02. The City elects to retain all of the captured tax capacity to finance the costs
of the TIF District and the Development District
4.03. The staff of the City, the City's advisors and legal counsel are authorized and
directed to proceed with the implementation of the Program and Plan and to negotiate,
draft, prepare and present to this Council for its consideration all farther plans, resolutions,
documents and contracts necessary for this purpose. The City Council, staff and its
consultants are authorized to negotiate the terms of any development agreement, if
necessary, with developers in connection with the establishment of the TIF District.
4.04 The Auditor of Sherburne County is requested to certify the original net tax
capacity of the District, as described in the Program and Plan, and to certify in each year
thereafter the amount by which the original net tax capacity has increased or decreased; and
the City is authorized and directed to forthwith transmit this request to the County Auditor
in such form and content as the Auditor may specify, together with a list of all properties
within the District, for which building permits have been issued during the 18 months
immediately preceding the adoption of this resolution.
4.05. The City Administrator is farther authorized and directed to file a copy of
the Program and Plan with the Commissioner of the Minnesota Department of Revenue and
the Office of the State Auditor pursuant to Minnesota Statutes 469.175, Subd. 4a.
Passed and adopted this 160' day of April 2018
ATT
EST:
Tina Allard, City erk
)Jn ftDieo�rl-
P O t7 E O t 0 0 9
k 17 711