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HomeMy WebLinkAbout1985-135 CCRMember Rich Theis introduced the following resolution and moved its adoption: RESOLUTION NO. 85 -135 RESOLUTION APPROVING A REDEVELOPMENT PLAN AND TAX INCREMENT FINANCING PLAN FOR THE EARLE BROWN FARM REDEVELOPMENT PROJECT: ESTABLISHING A REDEVELOPMENT DISTRICT; ESTABLISHING A REDEVELOPMENT TAX INCREMENT FINANCING DISTRICT BE IT RESOLVED by the City Council of the City of Brooklyn Center, Minnesota (City) as follows: Section 1. Background. I 1.01. The Housing and Redevelopment Authority of Brooklyn Center (Authority) on its own initiative has prepared a redevelopment plan and program (Redevelopment Plan) for that area of the City generally known as the Earle Brown Farm Area (Project Area) in accordance with Minnesota Statutes, Sections 462.411 to 462.716 (Redevelopment Act), and has prepared a tax increment financing plan (TIF Plan) in accordance with Minnesota Statutes, Sections 273.71 to 273.78 (TIF Act). 1.02. The Redevelopment Plan and TIF Plan are contained in a document entitled "Earle Brown Farm Redevelopment Plan and Tax Increment District Plan" dated July 22 1985, now on file with the City Clerk. 1.03. The Redevelopment Plan and TIF Plan have been, in accordance with the Acts, referred to the City Planning Commission which by action taken June 27, 1985, has found that the Redevelopment Plan and TIF Plan conform to and are not in conflict with the general plan for the development or redevelopment of the City as a whole. 1.04. The Authority by resolution of Julv 22 1985 has approved the Redevelopment Plan and the TIF Plan for a redevelopment tax increment financing district (TIF District) and referred them to this Council for public hearing and consideration as provided by the Acts. 1.05. This Council has this date conducted the required public hearing at which the views of all interested parties were heard. Copies of the TIF Plan have been forwarded to Independent School District No. 286 and Hennepin County as required by the TIF Act. 1.06. This Council has fully reviewed the contents of the Redevelopment Plan and TIF Plan. -1- RESOLUTION NO. 85 -135 Section 2. Findings; Redevelopment Project. 2.01. It is hereby found and determined that within the Project Area there exist conditions of economic obsolescence, physical deterioration, underutilization and inappropriate uses of land. 2.02. It is further determined that physical deterioration of buildings and structures in the Project Area is so extensive as later described herein as to meet the standards of a Redevel- opment District set forth in the TIF Act. 2.03. It is further specifically found and determined that: a) the land in the Project Area would not be made available for redevelopment without the public intervention and financial aid de- scribed in the Redevelopment Plan and TIF Plan; b) the Redevelopment Plan for the Project Area will afford maximum opportunity, consistent with the sound needs of the City a a whole, for the redevelopment of the Project Area by private enterprise; c) the Redevelopment Plan conforms to the general development plan of the City as set forth in the comprehensive municipal plan. 2.04. The findings in this section are made in compliance with Section 462.521, Subdivision 2 of the Redevelopment Act for the purpose of showing the City's intent to exercise, in conjunc- tion with the Authority, the powers granted to the City and the Authority by that Act in order to achieve the objectives of that Act. Section 3. Findings: Redevelopment Tax Increment Financing District. 3.01. It is found and determined that it is necessary and desirable to the sound and orderly development and redevelopment of the Project Area and the City as a whole, and for the pro- tection and preservation of the public health, sa-fety, and general welfare, that the authority of the TIF Act be exercised by the Authority and the City to provide public financial assis- tance to the Redevelopment Project. 3.02. It is further found and determined that the TIF District is a redevelopment district, and that the following conditions are reasonably distributed throughout the TIF Dis- trict: 2 RESOLUTION NO. 85 -135 a) more than 70 percent of the parcels of land in the TIP District are occupied by build- ings, streets, or utilities or other improve- ments; b) at least 20 percent of the buildings are structurally substandard; and c) an additional 30 percent of the buildings require substantial renovation or clearance in order to remove such existing conditions as inadequate street layout, incompatible land use relationships, overcrowding of buildings on the land, excessive dwelling unit density, obsolete buildings not suitable for improvement or conversion, and other hazards to health and safety identified in the TIP Plan and Redevelopment Plan. 3.03. It is further found and determined, and it is the reasoned opinion of the Authority and this Council, that the redevelopment proposed by the Redevelopment Plan and the TIP 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 is necessary. 3.04. The TIP Plan conforms to the general plan of develop- ment of the City as a whole. The Planning Commission of the City has submitted its written comments to this Council to that effect. 3.05. The TIP Plan will afford maximum opportunity, consis- tent with the sound needs of the City as a whole for the redevel- opment of the TIP District by private enterprise. 3.06. The City does not elect the method of tax increment computation set forth in Section 273.76, Subdivision 3, clause (b) of the TIP Act. It is essential to the success of the TIP District and Project Area that no fiscal disparities contribution be made by commercial industrial properties within the TIP District. Section 4. Project and District Established: Certification: Filinq. 4.01. The Redevelopment Plan is approved. The Redevelop- ment Project is approved. The Project Area is established. 4.02. The TIP Plan is approved. The TIP District is established. 4.03. The geographic boundaries of the Project Area and the TIP District are coterminous and as described in the 3 Resolution No. 85 -135 Redevelopment Plan and TIF Plan which document is adopted herein by reference. 4.04. The Authority is requested to transmit a certified copy of this resolution together with a certified copy of the Redevelopment Plan and TIF Plan to the Director of Property Taxation of Hennepin County with a request that the original assessed valuation of the TIF District be certified to the Authority pursuant to Section 273.76, Subdivision 1 of the TIF Act. The Authority is further requested to file a copy of the Redevelopment Plan and TIF Plan with the Minnesota Energy and Economic Development Authority as required by the TIF Act. July 22, 1985 Date 4.05• This Council shall at the appropriate time and at the request of the Authority take action to issue and sell its general obligation bonds pursuant to the TIF Act to finance public redevelopment costs identified in the TIF Plan. 4.06. The Clerk is authorized and directed to transmit a certified copy of the resolution to the Authority. ATTEST: Clerk Mayo 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: Dean Nyquist, Gene Lhotka, Celia Scott, Bill Hawes, and Rich Theis; and the following voted against the same: none, whereupon said resolution was declared duly passed and adopted.