HomeMy WebLinkAbout1991 03-18 EDAP Regular Session EDA AGENDA
CITY OF BROOKLYN CENTER
MARCH 18, 1991
(following adjournment of City Council meeting)
1. Call to Order
2. Roll Call
3. Resolution:
a. Approving a Modified Tax Increment Financing Plan for Tax
Increment Financing District No. 1, Known as the
Brookwood Tax Increment Financing District
4. Adjournment
3 01/
Commissioner introduced the followin g resolution and moved
its adoption:
EDA RESOLUTION NO.
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 Economic Development Authority of the City of
Brooklyn Center Minnesota as follows:
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Section 1. Recitals
1.01. The Housing and Redevelopment Authority in and for the City of Brooklyn
Center, Minnesota (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
Brookwood.
1.02. The City Council of the City of Brooklyn Center (City) held a public hearing
Oft on the Project Plan and TIF Plan (collectively, Plans) and approved the Plans
in 1983.
1.03. Responsibility for the Project Area and TIF District was subsequently
shifted from the HRA to the Economic Development Authority of 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 budget for the public 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.
1.06. The EDA has caused to be prepared a modified TIF Plan which is contained
in a document entitled "Housing Development Project Plan and Modified Tax
Increment Financing Plan (Brookwood)" dated March 18, 1991, and on file
with the EDA.
Section 2. EDA Approval
2.01. The EDA has reviewed the modified TIF Plan and finds that the objectives
of the EDA in encouraging housing and related 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.
EDA Resolution No.
Section 3. Further Proceeding
3.01. The following actions of the Executive Director of the EDA are hereby
ratified and conformed: 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 February 14, 1991, of the public hearing to be held on
the modified TIF Plan on March 18, 1991.
3.02. The EDA urges the City to hold the necessary public hearing and adopt the
modified TIF Plan.
Date Todd Paulson, President
The motion for the adoption of the foregoing resolution was duly
seconded by Commissioner and upon vote
being taken thereon, the following voted in favor thereof:
and the following voted against the same:
whereupon said resolution was declared duly passed and adopted.