98-137 RESRESOLUTION 98 - 137
CITY OF ELK RIVER
COUNTY OF SHERBURNE
STATE OF MINNESOTA
A RESOLUTION MODIFYING THE BUDGET IN THE TAX INCREMENT
FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 9
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 that the Council modify the budget in the Tax
Increment Financing Plan ("Plan Modification") for Tax Increment Financing
District No. 9, and adopt the related Plan Modification therefor, pursuant to and in
conformity with applicable law, including Minnesota Statutes, Sections 469.090
through 469.1081 and 469.174 through 469.179, all inclusive, as amended, all as
reflected in the Plan Modification showing an adoption date of December 21, 1998,
and presented for the Council's consideration.
1.02. The Council has investigated the facts relating to the Plan
Modification.
1.03. The City has performed all actions required by law to be performed
prior to the adoption and approval of the proposed Plan Modification, including, but
not limited to, notification of Sherburne County and School District No. 728 having
taxing jurisdiction over the property located within District No. 9, a review of and
action taken on the Plan Modification by the City Planning Commission, and the
holding of a public hearing upon published notice as required by law.
1.04. Certain written reports (the "Reports") relating to the Plan
Modification and to the activities contemplated therein have heretofore been
prepared by staff and submitted to the Council and/or made a part of the City files
and proceedings on the Plan Modification. The Reports include data, information,
and/or substantiation constituting or relating to the basis for 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.
Section 2. - Findings for the Adoption and Approval of the Plan Modification.
2.01. The Council hereby finds that the Plan Modification is intended, and
in the judgment of this Council, the effect of such actions will be, to provide an
impetus for development for the public purpose and to accomplish certain objectives
as specified in the Development Program for Development District No. i and the
original Tax Increment Financing Plan for Tax Increment Financing District No. 9,
which are hereby incorporated herein.
Section 3. - Findings for the Modification of Tax Increment Financing District
No. 5.
3.01. The Council hereby ratifies, in their entirety, the original findings
established at the time of approval of the Tax Increment Financing Plan for Tax
Increment Financing District No. 9, made on March 8, 1993, and appearing in the
City of Elk River Resolution No. 93-09, and determines that the Plan Modification is
consistent therewith.
Section 4. - Approval and Adoption of the Plan Modification.
4.01. The Plan Modification, 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 Executive Director of the Economic Development
Authority.
4.02 The staffofthe City, the City's advisors and legal counsel are
authorized and directed to proceed with the implementation of the Plan Modification
and to negotiate, draft, prepare, and present to this Council for its consideration all
further Plans, Resolutions, Documents, and Contracts necessary for this purpose.
The motion for the adoption of the foregoing resolution was introduced by
Councilmember FARBER and duly seconded by Councilmember
TItOI~tPSON , and upon a vote being taken thereon, the following voted in
favor thereof: l~iayor Duitsman, Councilmembers Dietz, Thompson,
Father, and Holmgren
and the following voted against the same: l~one
Dated:
December 21, 1998
/e~ry ~ Duitsn~n~ Mayor
ATTEST: ~?
'Sandra P~eine,' (}~ty Clerk