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HomeMy WebLinkAbout1991-044 CCR1 Member Celia Scott resolution and moved its adoption: RESOLUTION NO. 91 -44 introduced the following RESOLUTION APPROVING A MODIFIED TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 02 BE IT RESOLVED by the City Council of the City of Brooklyn Center, Minnesota (City), as follows: Section 1. Recitals. 1.01. The Housing and Redevelopment Authority in and for the City of Brooklyn Center (HRA) adopted a project plan (Project Plan) for the Earle Brown Farm Redevelopment Project (Project Area) in accordance with Minn. Stat. Sections 469.001 through 469.047 and a tax increment financing plan (TIF Plan) in accordance with Minn. Stat. Sections 469.174 through 469.179 (collectively, the Plans) for the Earle Brown Farm (TIF District) and said Plans were thereafter approved by the City Council of the City of Brooklyn Center (City). 1.02. Responsibility for the Project Area and TIF District was shifted from the HRA to the Economic Development Authority for Brooklyn Center (EDA). 1.03. Changes in the budget for the public redevelopment activities undertaken in the Project Area have prompted the EDA to prepare a modified TIF Plan. 1.04. The modified TIF Plan is contained in a document entitled "Earle Brown Farm Redevelopment Plan and Modified Earle Brown Farm Tax Increment Financing Plan" dated February 1, 1991, now on file with the EDA. 1.05. On November 27, 1989, the City Council held a public hearing on the modification of the TIF Plan, which it continued April 9. 1990 All persons desiring to comment on such modification were given an opportunity to be heard. 1.06. The EDA has approved the modified TIF Plan and referred it to the City Council for consideration as provided by state statute. 1.07. A copy of the modified TIF Plan was forwarded to Independent School District No. 286 and Hennepin County along with a notice of the public hearing as required by Minn. Stat. Sections 469.174 through 469.179 (TIF Act). 1.08. The City Council has fully reviewed the contents of the modified TIF Plan. Section 2. Findings. 2.01. It is found and determined that it is necessary and desirable to the sound and orderly development and redevelopment of the Project Area, the TIF 1 RESOLUTION NO. 91 -44 District, and the City as a whole, and for the protection and preservation of the public health, safety, and general welfare, that the authority of the TIF Act be exercised by the EDA and the City to provide public financing assistance to the Project Area and TIF District. 2.02. It is further found and determined, and it is the reasoned opinion of the EDA and the City, that the redevelopment of the Project Area and TIF District outlined in the Project Plan could not reasonably be expected to occur solely through private investment within the reasonably foreseeable future and that therefore the use of tax increment financing as provided in the TIF Plan is necessary. 2.03. The modified TIF Plan conforms to the general plan for development of the City as a whole as set forth in the comprehensive municipal plan. 2.04. The modified TIF Plan will afford maximum opportunity, consistent with the sound needs of the City as a whole, for the redevelopment of the Project Area and TIF District by private enterprise. Section 3. Modified TIF Plan Adopted. 3.01. The modified TIF Plan is approved. 3.02. There has been no change to the boundaries of the TIF District as a result of this modification. 3.03. The EDA is requested to file a copy of the modified TIF Plan with the Minnesota commissioner of revenue as required by the TIF Act. 3.04. The city clerk is authorized and directed to transmit a certified copy of the resolution to the EDA. ATTEST: ClIkITUJUL17) Deputy Clerk February 11; 1991 Date Todd Paulson, Mayor 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, Jerry Pedlar, Dave Rosene, and Philip Cohen; and the following voted against the same: none, whereupon said resolution was declared duly passed and adopted.