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HomeMy WebLinkAbout1994-273 CCR1 1 1 Member Kristen Mann introduced the following resolution and moved its adoption: RESOLUTION NO. 94 273 RESOLUTION MODIFYING THE REDEVELOPMENT PLAN FOR HOUSING DEVELOPMENT AND REDEVELOPMENT PROJECT NO. 1, ESTABLISHING TAX INCREMENT FINANCING DISTRICT NO. 03, AND APPROVING AND ADOPTING THE TAX INCREMENT FINANCING PLAN RELATED THERETO, LOCATED WITHIN HOUSING DEVELOPMENT AND REDEVELOPMENT PROJECT NO.1 BE IT RESOLVED by the City Council (the "Council of the City of Brooklyn Center, Minnesota (the "City as follows: Section 1. Recitals. 1.01. It has been proposed that the City modify the Redevelopment Plan for Housing Development and Redevelopment Project No. 1, and establish Tax Increment Financing District No. 03 and approve and adopt the Tax Increment Financing Plan relating thereto, located within Housing Development and Redevelopment Project No. 1, all pursuant to and in accordance with Minnesota Statutes, Sections 469.001 through 469.047, inclusive; Minnesota Statutes 469.090 through 469.0181, inclusive, and Minnesota Statutes, Sections 469.174 through 469.179, inclusive; and 1994 Minnesota Laws, Chapter 587, Article 9, Section 14; and 1.02. The Council has investigated the facts and has caused to be prepared a Modified Redevelopment Plan for Housing Development and Redevelopment Project No. 1 and the proposed Tax Increment Financing Plan for Tax Increment Financing District No. 03 (the "Plans 1.03. The City has performed all actions required by law to be performed prior to the modification of Housing Development and Redevelopment Project No. 1 and the establishment of Tax Increment Financing District No. 03 and the adoption of the Plans relating thereto, including, but not limited to, notification of Hennepin County and School Districts Nos. 11, 279, 281 and 286 having taxing jurisdiction over the property to be included in Tax Increment District No. 03, a review by the City Planning Commission of the proposed Plans and the holding of a public hearing upon published notice as required by law. Section 2. Findinvs for the Modification of the Redevelopment Plan for Housing Development and Redevelopment Proiect No. 1. the Establishment of Tax Increment Financine District No. 03 and the Approval of the Tax Increment Financing Plan relating thereto. 2.01. The Council hereby finds that Tax Increment Financing District No. 03 is a redevelopment district. 1 1 1 RESOLUTION NO. 94 -273 2.02. The Council hereby fords that the modification of the Redevelopment Plan for Housing Development Project No. 1 and the establishment of Tax Increment Financing District No. 03 and the approval of the Tax Increment Financing Plan relating thereto, are intended and, in the judgment of this Council, the effect of such actions will be to provide an impetus for redevelopment in the public purposes and accomplish certain objectives as specified in the Plans. 2.03. The Council further finds that the proposed development, in the opinion of the Council, 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 Plans conform to the general plan for the development or redevelopment of the City as a whole; and that the Plans will afford maximum opportunity consistent with the sound needs of the City as a whole, for the development of Tax Increment Financing District No. 03 by private enterprise. 2.04. The Council further finds, declares and determines that the City made the above findings stated in Section 2 and has set forth the reasons and supporting facts for each determination in writing, attached hereto as Exhibit A. ATTEST: Section 3. Annroval of the Plans. 3.01. The modifications to the Redevelopment Plan for Housing Development and Redevelopment Project No. 1 and the Tax Increment Financing Plan for Tax Increment Financing District No. 03 are hereby approved and adopted, and shall be placed on file in the office of the City Manager. 3.02. The City staff of the City, the City's advisors and legal counsel are authorized and directed to proceed with the implementation of the Plans and for this purpose to negotiate, draft, prepare and present to this Council for its consideration all further plans, resolutions, documents and contracts necessary for this purpose. December 19, 1994 Date Deputy Clerk Todd Paulson, Mayor 1 RESOLUTION NO. 94 -273 The motion for the adoption of the foregoing resolution was duly seconded by member Dave Rosene and upon vote being taken thereon, the following voted in favor thereof: Todd Paulson, Celia Scott, Dave Rosene, and Kristen Mann; and the following voted against the same: whereupon said resolution was declared duly passed and adopted. 1 1 RESOLUTION NO. 94 -273 EXHIBIT A The reasons and facts supporting the findings for the adoption of the Tax Increment Financing Plan for Tax Increment Financing District No. 03 as required pursuant to Minnesota Statutes, Section 469.175, Subd. 3, are as follows: 1. Finding that Tax Increment Financing District No. 03 is a redevelopment district as defined in Minnesota Statutes, Section 469.175, Subd. 10. District No. 03 is a scattered site district with three sites consisting of 221 parcels of land and adjacent and internal rights -of -way of which 174 parcels contain existing houses and structures. Parcels consisting of more than 70 percent of the area are occupied by buildings and improvements. Buildings have been reviewed by City staff and consultants and more than 50 percent have been found to be structurally substandard. (See Exhibit II -C on Data on Qualifications as a Redevelopment Tax Increment Financing District on page II -C -1 of the Tax Increment Financing Plan for Tax Increment Financing District No. 03 and spreadsheets compiled by City staff for each of the three sites in District No. 03). 2. Finding that the proposed development, in the opinion of the Council, would not occur solely through private investment within the reasonably foreseeable future and, therefore, the use of tax increment financing is deemed necessary. Due to the high cost of redevelopment on parcels currently occupied by substandard buildings, the limited amount of industrial property for expansion adjacent to the existing project area, the incompatible land uses at close proximity, and the cost of financing the proposed improvements, this project is feasible only through assistance, in part, from tax increment financing. 3. Finding that the Tax Increment Financing Plan conforms to the general plan for the development or redevelopment of the municipality as a whole. The site is appropriately zoned. The Tax Increment Financing Plan for Tax Increment Financing District No. 03 has been reviewed by the Planning Commission and been found to conform to the general development plan of the City. 4. Finding that the Tax Increment Financing Plan for Tax Increment Financing District No. 03 will afford maximum opportunity, consistent with the sound needs of the City as a whole, for the development of Housing Development and Redevelopment Project No. 1 by private enterprise. The establishment of Tax Increment Financing District No. 3 will result in the facilitation of redevelopment in several areas of the City.