91-022 RES
.
CITY COUNCIL
FOR THE
CITY OF ELK RIVER, MINNESOTA
RESOLUTION NO. 91- 22
A RESOLUTION APPROVING THE MODIFICATION OF THE TAX
INCREMENT FINANCING PLANS FOR TAX INCREMENT FINANCING DISTRICTS
NO. 1 AND 3, AND DIRECTING CITY STAFF TO IMPLEMENT THE
MODIFICATION OF TAX INCREMENT FINANCING DISTRICTS NO. 1 AND 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. SS 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 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 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 TIF Districts No. 1 and 3 (the Modification) is to provide
supplemental information relating to acquisition by the City of
additional property within Development District No.1.
5. That the property proposed to be acquired will be
acquired by the City for the purposes set forth in the
Modification, which purposes are consistent with the goals and
purposes of the Development Program and the TIF plans.
6. That TIF Districts No.1 and 3 are Economic
Development Tax Increment Financing Districts pursuant to
Minnesota Statutes S 273.73, subd. 12.
.
7. That the Modification of the TIF Plans for TIF
Districts No. 1 and 3 has been prepared by City staff and
consultants, and reflects the City's intention to use a portion
of the tax increment captured in TIF Districts No. 1 and 3 to
acquire additional property within Development District No.1.
.
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 financing to acquire for
redevelopment a key parcel of property in
downtown Elk River.
(b) The Modification is consistent with and conforms
to the City's Master Park and Recreation Plan by
providing financing for the acquisition of
several properties designated in the City's Park
Plan for park development.
(c) 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.
(d) 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 prepared by City staff and
consultants adequately serves the goals and objectives of TIF
Districts No. 1 and 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 School 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 S 469.175, subds. 3 and 4.
13. That a Public Hearing on the Modification was held
before the City Council on April 15, 1991, and that an
opportunity to be heard was granted at that time to all
residents of the City and all other interested person.
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 3.
.
B. That the City Council of the City of Elk River hereby
directs its staff and consultants to proceed to take those
steps necessary to implement the Modification.
2 .
.
.
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The foregoing resolution was introduced by Council member
Kropuenske and duly seconded by Councilmember
Dietz
The following voted in favor of the resolution:
Mayor Tralle, Councilmembers Dietz, Kropuenske, Schuldt and Holmgren
The following voted against:
None
The following were absent:
None
Whereupon the resolution was
ATTEST:
&W/Q~
Patrick Klaers, City Administrator
PKB:AZ9
3.
April 15, 1991.
~
1m Tralle,