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HomeMy WebLinkAboutResolution 94-42RESOLUTION NO. 94-42 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLUMBIA HEIGHTS, MINNESOTA, TO DIRECT THE CITY MANAGER TO PREPARE A TAX INCREMENT FINANCING PLAN FOR THE SHEFFIELD REDEVELOPMENT AND HOUSING PROJECT (THE "PROJECT") TO CREATE A TAX INCREMENT FINANCING DISTRICT WITHIN SAID PROJECT AND TO DIRECT THE CITY MANAGER ANDTHE HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF COLUMBIA HEIGHTS TO PUBLISH NOTICE AND HOLD A PUBLIC HEARING TOAPPROVETHE TAX INCREMENT FINANCING PLAN AND ESTABLISH THE TAX INCREMENT FINANCING DISTRICT WHEREAS, the City Council ("Council") of the City of Columbia Heights ("City") did adopt a Redevelopment and Housing Development Plan entitled "Sheffield Neighborhood Redevelopment and Housing Plan" and created a Redevelopment and Housing Development Project on February 26, 1994 pursuant to Minnesota Statutes, Section 469.028; and WHEREAS, the Redevelopment and Housing Development Plan did identify various sources of funds to finance the costs contemplated in the Redevelopment and Housing Development Plan; and WHEREAS, the Council has identified the use of tax increments derived from the "tax increment financing district" as that term is defined in Minnesota Statutes, Section 469.174, Subd. 9 as a potential source of funds to further finance the public costs associated with the Sheffield Neighborhood Redevelopment and Housing Development Project; and WHEREAS, the Council and the Authority propose to establish a tax increment financing district within the boundaries of, or coterminous with the boundaries of, the Sheffield Neighborhood Redevelopment and Housing Development Project; and WHEREAS, prerequisite to the establishment of a Tax Increment Financing District is the preparation of a "Tax Increment Financing Plan" as provided at Minnesota Statutes, Section 469.175, Subd. 1; and WHEREAS, also prerequisite to the establishment of a "Tax Increment Financing District" is the Council's holding a public hearing after published notice at least 10 and no more than 30 days prior to said public hearing as provided at Minnesota Statutes, Section 469.174, subds. 2 and 3. Resolution No. 94-42 page 2 NOW THEREFORE BE IT RESOLVED by the City Council of the City of Columbia Heights, Minnesota as follows: 1. The City Council hereby directs the City Manager to prepare a "Tax Increment Financing Plan" for the Sheffield Neighborhood Redevelopment and Housing Development Project. 2. The city Council hereby directs the City Manager to create and establish the boundaries of the proposed "Tax Increment Financing District" for the Sheffield Neighborhood Redevelopment and Housing Development Project. 3. The City Council hereby directs the City Manager to publish notice of the date upon which the City Council will hold a public hearing at which time the City Council will consider approval of said "Tax Increment Financing Plan" for the Sheffield Neighborhood Redevelopment and Housing Development Project and directs the Housing and Redevelopment Authority in and for the City of Columbia Heights to consider said "Tax Increment Financing Plan" for the Sheffield Neighborhood Redevelopment and Housing Development Project at a separate public hearing after the Housing and Redevelopment Authority in and for the City of Columbia Heights has provided an opportunity for members of the Anoka County Board of Commissioners and the Columbia Heights School Board to review and comment upon the contents of the "Tax Increment Financing Plan." Approved this 18th day of July, 1994 Motion by Ruettimann Seco~lded by Peterson Voting Aye Jolly, Nawrotki, Ruettimann, Peterson, Sturdevant Voting Nay None Absent None or'JJoseph St~rdevant ATTEST: -Anne student, council secretary