HomeMy WebLinkAbout1991-002 EDARk
Commissioner Philip Cohen introduced the following
resolution and moved its adoption:
Section 1. Recitals.
EDA RESOLUTION NO. 91 0 2
RESOLUTION APPROVING A MODIFIED TAX
INCREMENT FINANCING PLAN FOR TAX
INCREMENT FINANCING DISTRICT NO. 02
BE IT RESOLVED by the Economic Development Authority of the City of
Brooklyn Center, Minnesota, as follows:
1.01. The Housing and Redevelopment Authority in and for the City of Brooklyn
Center (HRA), previously adopted a project plan (Project Plan) for a project
area (Project Area) and a tax increment financing plan (TIF Plan) for a tax
increment financing district (TIF District) generally known as the Earle
Brown Farm.
1.02. The City Council of the City of Brooklyn Center (City) held a public hearing
on the Project Plan and TIF Plan (collectively, Plans) and approved the
Plans.
1.03. Responsibility for the Project Area and TIF District has been shifted from
the HRA to the Economic Development Authority of Brooklyn Center
(EDA).
1.04. Changes in the budget for the public redevelopment activities undertaken in
the Project Area have occurred since the time of the adoption of the Plans
and have necessitated modification of the TIF Plan.
1.05. The EDA has caused to be prepared a modified TIF Plan which is contained
in a document entitled "Earle Brown Farm Redevelopment Plan and
Modified Earle Brown Farm Tax Increment Financing Plan" dated February
1, 1991, and on file with the EDA.
Section 2. EDA Approval.
2.01. The EDA find that the objectives of the EDA in encouraging development
and redevelopment within the Project Area and TIF District will be
advanced by adoption of the modified TIF Plan.
2.02. The modified TIF Plan is hereby approved and adopted by the EDA.
1
r
91 -02
EDA RESOLUTION NO
Section 3. Further Proceedings.
February 12, 1991
3.01. The following actions of the Executive Director of the EDA are hereby
ratified and confirmed: transmission of the modified TIF Plan to the school
board of Independent School District No. 286 and the Board of
Commissioners of Hennepin County for review and comment and notifying
said public bodies on or before October 15, 1989 of the public hearing which
was held on the modified TIF Plan on November 27, 1989.
Date President
The motion for the adoption of the foregoing resolution was duly seconded
by Commissioner Jerry Pedlar and upon vote being taken thereon, the
following voted in favor thereof: Todd Paulson, Jerry Pedlar,`
Dave Rosene, and Philip Cohen;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.