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86-006 RES . . . ~ The City Council for the City of Elk River, Minnesota Resolution No. 86-6 A RESOLUTION AMENDING THE DEVELOPMENT PROGRAM FOR DEVELOPMENT DISTRICT NO. 1 AND AMENDING THE TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO.1. The City Council for the City of Elk River (the City) acting pursuant to its authority under Minnesota Statutes, Chapter 472A and Sections 273.71 to 273.78, hereby finds, determines and resolves as follows: FINDINGS 1. That Development District No. 1 was designated as a municipal development district pursuant to Minnesota Statutes Chapter 472A, and the Development Program for Development District No. 1 was approved, by Resolution of the City Council of the City of Elk River dated April 1, 1985. 2. That the Tax Increment Financing Plan for Tax Increment Financing District No. 1 was approved and Tax Increment Financing District No.1 established pursuant to Minnesota Statutes Sections 273.71 - 273.78, by Resolution of the City Council of the City of Elk River dated April 1, 1985. 3. That Development District No. 1 and Tax Increment Financing District No. 1 have been implemented, tax increment financing bonds have been sold, and construction of required water service facilities has begun, all pursuant to the Development Program for Development District No.1, the Tax Increment Financing Plan for Tax Increment Financing District No.1, and relevant Minnesota Statutes. 4. That the Development Program and the Tax Increment Financing Plan anticipate and provide for the amendment of the Development Program and the Tax Increment Financing Plan, and/or the adoption of additional tax increment financing plans and establishment of additional tax increment financing districts, as new development attracted by construction of the required water facilities occurs. 5. That implementation of Development District No. 1 and Tax Increment Financing District No.1, and construction of the required water service facilities, have attracted new commercial and industrial development to the development district. 6. That development has not occurred on all parcels within Tax Increment Financing District No.1, as anticipated when the Tax Increment Financing Plan was approved and Tax Increment Financing District No. 1 established. . . . ~ 7. That it is therefore necessary, desirable and in the public interest to adopt certain amendments to the Development Program for Development District No. 1 (the Development Program) and the Tax Increment Financing Plan for Tax Increment Financing District No.1 (the Tax Increment Financing Plan), including amendments which eliminate certain parcels of property from Tax Increment Financing District No. 1 and add to Tax Increment Financing District No. 1 certain other parcels of property. 8. That Tax Increment Financing District No. 1 as amended continues to qualify as an economic development tax increment financing district pursuant to Minnesota Statutes Chapter 273.73, Subd. 12, for the same reasons set forth in the City Council's Findings in Resolution No. 85-11 adopting the original Tax Increment Financing Plan and designating the original Tax Increment Financing District No.1. 9. That the proposed amendments to the Development Program and Tax Increment Financing Plan are necessary. 10. That the Tax Increment Financing Plan as amended is consistent with and conforms to the Comprehensive Plan for development of the City as a whole and to the City's adopted L~nd Use Plan, for the same reasons set forth in the City Council's Findings in Resolution No. 85-11. 11. That the Tax Increment Financing Plan as amended will afford maximum opportunity, consistent with the sound needs of the City as a whole., for development by private enterprise for the same reasons as set forth in the City Council's Findings in Resolution No. 85-11. 12. That the proposed amendments to the Development Program prepared by City staff and consultants adequately and accurately set forth the required amendments to the Development Program. 13. That the proposed amendments to the Tax Increment Financing Plan prepared by City staff and consultants adequately and accurately set forth the required amendments to the Tax Increment Financing Plan and accurately identify the necessary additions and deletions from Tax Increment Financing District No.1. 14. That the Planning Commission for the City of Elk River has been consulted with respect to the amended Development Program and amended Tax Increment Financing Plan. 15. That the amended Development Program and the amended Tax Increment Financing Plan are consistent with the City's Comprehensive and Land Use Plans. 16. That the amended Tax Increment Financing Plan has been transmitted by the City to the Sherburne County Board of Commissioners and to the School Board for Independent School District No. 728. . . . 17. That the City has met with the Sherburne County Board of Commissioners and the School Board and has presented to the County Board and the School Board the City's estimate of the fiscal and economic implications of the amendments to the Tax Increment Financing Plan. 18. That the Sherburne County Board of Commissioners has presented its written comment on the amended Tax Increment Financing Plan to the City. 19. That notice of a public hearing on the amendments to the Development Program and the Tax Increment Financing Plan has been published in the official newspaper of the City as required by Minnesota Statutes Section 472A.03 and Section 273.74, Subd. 3. 20. That a public hearing on the proposed amendments to the Development Program and the proposed amendments to the Tax Increment Financing Plan was held before the City Council on January 27, 1985 and that an opportunity to be heard was granted at that time to all residents of the City and all other interested persons. RESOLVED: A. That the City Council of the City of Elk River hereby adopts each and everyone of the findings set forth above and readopts, to the extent not inconsistent with the findings herein, those findings made in Resolutions Nos. 85-10 and 85-11. B. That the City Council for the City of Elk River hereby adopts the proposed amendments to the Development Program for Development District No. 1 and readopts in its entirety the Development Program for Development District No.1, as amended, as of this date. C. That the City Council for the City of Elk River hereby approves the proposed amendments to the Tax Increment Financing Plan for Tax Increment Financing District No. 1 and readopts in its entirety the Tax Increment Financing Plan for Tax Increment Financing District No.1, as amended, as of this date. D. That the City Council for the City of Elk River hereby establishes that area of the City designated in the Tax Increment Financing Plan for Tax Increment Financing District No.1, as amended, as Tax Increment Financing District No.1. E. That the City Council for the City of Elk River hereby designates the City Administrator as the Administrator for Development District No. 1 and directs the City Administrator to proceed to take all steps necessary to implement the amended Tax Increment Financing Plan for Tax Increment Financing District No.1. ,. . .. . The following Resolution was introduced by Councilmember and duly seconded by Councilmember The following voted in favor of the Resolution: The following voted against: The following were absent: . Whereupon the Resolution was adopted. ADOPTED: January 27, 1986. z:' "'7 " //' ) /' . """0' " ..../~' ,I.' ,'" ,-,..- . /', ./'"' /' / ' c " '? I C"'''''") / "/,, ,". . ,<'//,.. '-.o/~LJ~ ,-;,~A( Richard Hinkle, Mayor ATTEST: 4~~ Thomas R. Bu~litz, City A nistrator .