HomeMy WebLinkAbout2011-059 CCR Member Kay Lasman introduced the following resolution and moved its
adoption:
RESOLUTION NO. 2011 -59
RESOLUTION APPROVING A SPENDING PLAN FOR TAX INCREMENT
FINANCING DISTRICT NO. 2
BE IT RESOLVED by the City Council (the "Council ") of the City of Brooklyn
Center, Minnesota (the "City "), as follows:
Section 1. Recitals
1.01. Minnesota Statutes, Section 469.176 Subd. 4m, (the "Temporary TIF Authority
Act ") authorizes the Economic Development Authority of the City of Brooklyn Center,
Minnesota (the "Authority ") to spend available tax increment from any existing tax increment
financing district, notwithstanding any other law to the contrary, to provide improvements, loans,
interest rate subsidies, or assistance in any form to private development consisting of
construction or substantial rehabilitation of buildings and ancillary facilities, if the following
conditions exist:
(1) Such assistance will create or retain jobs in the State of Minnesota, including
construction jobs;
(2) Construction commences before July 1, 2011;
(3) The construction would not have commenced before that date without the
assistance;
(4) Tax increments under the Spending Plan are spent by December 31, 2011; and
(4) The City Council approves a written spending plan (after a duly noticed public
hearing) that specifically authorizes the Authority to take such actions.
1,02. The Authority proposes to adopt a spending plan for the Tax Increment Financing
District No. 2 (the "TIF District ") in accordance with the Temporary TIF Authority Act in
substantially the form submitted to the City Council (the "Spending Plan ") to utilize existing tax
increment revenues from the TIF District in order to stimulate construction or rehabilitation of
private development in a way that will also create or retain jobs.
1.03. On this date, the City Council held a public hearing regarding the Spending Plan,
for which notice was published in a newspaper of general circulation in the City at least once, not
less than ten days nor more than 30 days prior to the hearing, and at which hearing all persons
were given the opportunity to be heard.
RESOLUTION NO. 2011 -59
Section 2. Approval and Adoption of the Spending Plan
2.01. The City Council hereby finds that construction of the projects to be assisted
pursuant to the Spending Plan would not have commenced by July 1, 2011 without the assistance
being offered by the Authority as permitted by the Temporary TIF Authority Act.
2.02. The Spending Plan for the TIF District is hereby approved and adopted in
substantially the form on file in City Hall.
2.03. The Authority is hereby authorized to carry out the terms of the Spending Plan in
such; manner as it determines, subject to compliance with all terms and conditions of the
Temporary TIF Authority Act.
The Spending Plan, as presented to the Council on this date, shall be placed on
file in the office of the Business and Development Director. The Business and
Development Director is hereby directed to file the Spending Plan with the Office
of the State A
April 11, 2011
Date Mayor
ATTEST: �6 w
City Clerk
The motion for the adoption of the foregoing resolution was duly seconded by member
Dan Ryan
and upon vote being taken thereon, the following voted in favor thereof:
Tim Willson, Carol Kleven, Kay Lasman, Tim Roche, and Dan Ryan;
and the following voted against the same: none;
whereupon said resolution was declared duly passed and adopted.