93-041 RES
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RESOLUTION 93 - jl
RESOLUTION FOR THE CITY OF ELK RIVER
A RESOLUTION APPROVING THE MODIFICATION OF THE TAX
INCREMENT FINANCING PLANS FOR TAX INCREMENT FINANCING DISTRICTS
NO. 1 AND NO.3, AND DIRECTING CITY STAFF TO IMPLEMENT THE
MODIFICATION OF TAX INCREMENT FINANCING PLANS NO. 1 AND NO. 3
The City Council for the City of Elk River (the City),
acting pursuant to its authority under the Minnesota Tax
Increment Financing Act (Minn. Stat. Sec. 469.174-469.179)
hereby finds, determines, and resolves as follows:
FINDINGS
1. That the City has created and established Development
District No. 1 in the City pursuant to Minnesota Statutes
Chapter 469.
2. That the City has created and established Economic
Development Tax Increment Financing Districts No. 1 and No. 3
in the City pursuant to the Minnesota Tax Increment Financing
Act.
3. That the purpose of Development District No. 1 and TIF
Districts No. 1 and No. 3 is to provide a means for financing
public improvements and facilities necessary for the City to
attract additional business and industrial development and
increase employment opportunities in those areas of the City
designated for these uses.
4. That the purpose of the modification of the TIF Plans
for the TIF Districts No. 1 and No. 3 (the Modification) is to
provide supplemental information relating to Tax Increment
expenditures to pay for certain public redevelopment costs.
5. That the Tax Increment expenditures used to pay for
certain public redevelopment costs authorized by Minnesota
Statutes is consistent with the goals and purposes of the
Development Programs and the TIF Plans.
6. That TIF Districts No. 1 and No.3 are Economic
Development Tax Increment Financing Districts pursuant to
Minnesota Statutes Section 273.73, subd. 12.
7. That the Modification of the TIF Plans for TIF
Districts No. 1 and No. 3 reflects the City's intention to use
a portion of the tax increment captured in TIF Districts No. 1
and No. 3 to assist with a redevelopment project within
Development District No. 1 by paying for certain public
development costs authorized by Minnesota Statutes.
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8. That the Modification is consistent with and conforms
to the Comprehensive Plan for the development of the City as a
whole, and to the City's adopted Land Use Plan.
(a) The Modification of the Plan is consistent with
and conforms to the City's Growth Management Plan
by providing tax increment expenditures to assist
with the redevelopment of a parcel of property
along Main Street in Elk River.
(b) The Modification has been submitted to and
reviewed by the City's Planning Commission which
has found that the Modification conforms to the
City's Comprehensive and Land Use Plans.
(c) The Modification does not conflict with any other
known private proposals or other public projects.
9. That the Modification will afford maximum opportunity,
consistent with the sound needs of the City as a whole, for
development by private enterprise.
10. That the Modification adequately serves the goals and
objectives of the TIF Districts No. 1 and No.3.
11. That the Modification has been transmitted by the City
to the Sherburne County Board of Commissioners and to the
School Board for Independent Schobl District No. 728.
12. That notice of a Public Hearing on the Modification
has been published in the official newspaper of the City, as
required by Minnesota Statutes Section 469.175, subd. 3 and 4.
13. That a Public Hearing on the Modification was held
before the City Council on August 16, 1993, and that an
opportunity to be heard was granted at that time to all
residents of the City and all other interested persons.
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RESOLVED
A. That the City Council of the City of Elk River hereby
approves the Modification of the Tax Increment Financing Plans
for Tax Increment Financing Districts No. 1 and No.3.
B. That the City Council of the City of Elk River hereby
directs staff to proceed to take those steps necessary to
implement the Modification.
The foregoing resolution was introduced by Councilmember
Holmgren and duly seconded by Councilmember Scheel
The following voted in favor of the resolution: Mayor Duitsman,
Councilmembers Dietz, Scheel, Farber and Holmgren
The following voted against: None
The following were absent: None
Whereupon the resolution was adopted August 16, 1993.
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Y A. Duitsman, Mayor
ATTEST:
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