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HomeMy WebLinkAbout2011-110 CCRMemberKay Lasman introduced the following resolution and moved its adoption: RESOLUTION NO. 2011-110 RESOLUTION APPROVING MODIFICATION OF TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 2 AND MODIFICATION OF THE REDEVELOPMENT PLAN FOR HOUSING DEVELOPMENT AND REDEVELOPMENT PROJECT NO. 1 Section 1. Recitals 1.01. The Brooklyn Center Economic Development Authority ( Sections 469.001 to 469.047, as amended. 1.02 The EDA has asked the Council to approve the Modification to Redevelopment Plan and the Modification No. 3 to Tax Increment Financing Plan for Tax Increment Financing District tax increment financing 1.03. The EDA has performed all actions required by law to be performed prior to the modification of the Redevelopment Plan and the adoption and approval of the TIF Plan Modification, including, but not limited to, notification of the Hennepin County Commissioner representing the area of the County in which the TIF District is located, and delivering a copy of the TIF Plan Modification to Hennepin County and Independent School District Districts Nos. 286 (Brooklyn Center) and 281 (Robbinsdale), which have taxing jurisdiction over the properties included in the TIF District. The EDA has requested that the City approve the modification of the Redevelopment Plan and the TIF Plan Modification following the holding of a public hearing upon published and mailed notice as required by law. Section 2. Findings for the Adoption of the TIF Plan Modification and the Modification to the Redevelopment Plan. 2.01 The Council finds that the modification of the Redevelopment Plan and the TIF Plan Modification are intended and, in the judgment of the Council, the effect will be, to carry out the objectives of the Redevelopment Plan and to create an impetus for redevelopment activities associated with better utilizing blighted, polluted and underutilized land and enhancing the tax base of the City, in an effort to provide an ongoing benefit to residents in the City and to those who frequent the area in the City and to otherwise promote certain public purposes and accomplish RESOLUTION NO. 2011 -110 certain objectives as specified in the Redevelopment Plan, as modified, and in the TIF Plan Modification. 2.02 The Council hereby ratifies and confirms the findings made in connection with the establishment of the TIF District. The Council hereby makes the following additional findings: (a) The Council further finds that the proposed development, in the opinion of the Council, would not occur solely through private investment within the reasonably foreseeable future and, therefore, the use of tax increment financing is deemed necessary. The specific basis for such finding being: The project creates a need and opportunity better utilize blighted, polluted and underutilized land, to provide decent, safe and sanitary housing for persons of low and moderate income, to enhance the tax base in the City, and to provide maximum opportunity for development of private enterprise consistent with the needs of the City, which are public redevelopment costs that would not be financed by the private sector, particularly due to extensive redevelopment costs including site remediation, inadequate infrastructure and environmental contamination. (b) The Council further finds that the TIF Plan Modification conforms to the general plan for the development or redevelopment of the City as a whole. The specific basis for such finding being: The TIF Plan Modification will generally compliment and serve to implement policies adopted in the City's comprehensive plan. The public redevelopment contemplated by the TIF Plan Modification is in accordance with the City's comprehensive plan. (c) The Council further finds that the TIF Plan Modification will afford maximum opportunity consistent with the sound needs of the City as a whole for the development of the TIF District by private enterprise. The specific basis for such finding being: The proposed development to occur within the TIF District is commercial and industrial development consistent with other development in the area in and area targeted for redevelopment and activities will include land acquisition and acquisition of any necessary right of way, transportation and land use studies, and construction of public improvements necessary for private redevelopment which will reduce blight and increase the taxable market valuation of the City. RESOLUTION NO. 2011 -110 Section 3. Approval of the TIF Plan Modification and Modification of the Redevelopment Plan 3.01 The Modification of the Redevelopment Plan and the TIF Plan Modification are hereby approved. 3.02 The staff of the EDA and the EDA's advisors and legal counsel are authorized and directed to proceed with the implementation of the Modification to the Redevelopment Plan and the TIF Plan Modification. August 8, 2011 Date Mayor ATTEST: 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.