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HomeMy WebLinkAbout1991-083 CCR Councilmember Philip Cohen introduced the following resolution and moved its adoption: RESOLUTION NO. 91 83 RESOLUTION APPROVING A MODIFIED TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 1, KNOWN AS THE BROOKWOOD TAX INCREMENT FINANCING DISTRICT BE IT RESOLVED by the City Council for the City of Brooklyn Center, Minnesota (City) as follows: Section 2. Recitals 1.01. The Housing and Redevelopment Authority in and for the City of Brooklyn Center (HRA) previously adopted a project plan (Project Plan) for the Brookwood 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 Brookwood tax increment financing district (TIF District). 1.02. The City Council of the City of Brooklyn Center (City) held a public hearing on the Plans and approved the same in 1983. 1.03. Responsibility for the Project Area and TIF District was subsequently shifted from the HRA to the Economic Development Authority for Brooklyn Center (EDA). 1.04. The EDA and the City have previously adopted a modified Project Plan for the Project Area. 1.05 Changes in the nature and extent of public activities to be undertaken in the Project Area have occurred since the time of the adoption of the Plans and have prompted the EDA to prepare a modified TIF Plan. 1.06. The modified TIF Plan is contained in a document entitled "Housing Development Project Plan and Modified Tax Increment Financing Plan (Brookwood)" dated March 18, 1991, now on file with the EDA. 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 EDA has approved the modified TIF Plan and referred it to the City Council for consideration as provided by the TIF Act. Resolution No 91 -83 1.09. The City Council has fully reviewed the contents of the modified TIF Plan and on this date has held a public hearing and has considered the comments of all interested persons thereon. Section 2. Findings. 2.01. It is found and determined that it is necessary and desirable for the sound and orderly development of the Project Area, the TIF 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 assistance within 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 development of the Project Area and TIF District outlined in the Project Plan and TIF 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 development of the Project Area and TIF District by private enterprise. 2.05. The City specifically finds that the public expenditures to be made within the Project Area relating to the Earle Brown Farm and which are authorized by this modification to the TIF Plan are consistent with and necessary for the accomplishment of the goals and objectives adopted by the City for the TIF District. Section 3. Modified TIF Plan Adopted 3.01. The modified TIF Plan is approved. 3.02. The City finds that there has been no change in 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 cer fie of the resolution to the EDA. March 18, 199 Date Todd Paulson, Mayor ATTEST: Deputy Clerk The motion for the adoption of the foregoing resolution was duly seconded by member Celia Scott 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.