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HomeMy WebLinkAboutResolution 97-39 CITY OF COLUMBIA HEIGHTS RESOLUTION NO. 97-3q RESOLUTION APPROVING A MODIFIED REDEVELOPMENT PLAN FOR THE CENTRAL BUSINESS DISTRICT REDEVELOPMENT PROJECT AND A TAX INCREMENT FINANCING PLAN FOR HOUSING REDEVELOPMENT TAX INCREMENT FINANCING DISTRICT NO. 1 BE IT RESOLVED By the City Council ("Council") of the City of Columbia Heights ("City") as follows: Section 1. Recitals. 1.01. The City has previously established the Central Business District Redevelopment Project (the "Project") and a Redevelopment Plan therefor, originally administered by the Housing and Redevelopment Authority in and for the City of Columbia Heights ("HRA"). 1.02. By resolution approved January 8, 1996, the City transferred the control, authority and operation of the Project from the HRA to the Columbia Heights Economic Development Authority (the "Authority"). 1.03. In order to administer the Authority's development and redevelopment efforts more efficiently, the Authority has proposed to expand the boundaries of the Project and to modify the Redevelopment Plan for the Project accordingly, all pursuant to Minnesota Statutes, Sections 469.001 to 469.047 (the "HRA Law"). Specifically, the Authority has found that action is needed within the expanded Project area is to correct blight, prevent the emergence or spread of blight or blighting conditions, and facilitate development of adequate, safe and sanitary dwellings in order to protect the health, safety, morals and welfare of the citizens of the City. 1.04. The Authority has also proposed the establis ,h~,~ent within ~e Project of Housing Redevelopment Tax Increment Financing District No. I (the TIF District ) and a Tax Increment Financing Plan ( "TIF Plan") therefor, pursuant to the I-IRA Law and Minnesota Statutes, Sections 469.174 through 469.179 ( the "TIF Act"). 1.05. The Authority has caused to be prepared a document titled "Modification of the Downtown CBD Revitalization Plan for the Central Business District Redevelopment Project, Columbia Heights Economic Development Authority, and the Tax Increment Financing Plan for the establishment of Housing Redevelopment Tax Increment Financing District No. 1 (a redevelopment district), Economic Development Authority of Columbia Heights, City of Columbia Heights, Minnesota." 1.06. The Redevelopment Plan and TIF Plan were, in accordance with the HRA Act and TIF Act, referred to the City planning commission which submitted to the City its written opinion that such plans conform to the general plan for the development of the City as a whole. 1.07. Estimates of the fiscal and economic implications of the TIF Plan were presented to Independent School District No. 13 and to Anoka County at least 30 days before the public heating on the TIF Plan and the County commissioner who represents the area of the TIF District was duly notified at least 30 days before the date of publication of the hearing notice, all in accordance with the TIF Act. 1.08. By resolution dated May 20, 1997, the Authority approved the modified Redevelopment Plan and the TIF Plan and referred them to the Council for public hearing and consideration. ..~3.22892 CI.205-S I 1.09. This Council has fully reviewed the contents of the modified Redevelopment Plan and the TIF Plan and this date conducted a public hearing thereon, at which the views of all interested persons were heard. Section 2. Findinls: Redevelopment Project. ~ 2.01._ It is hereby found and determined that within the Project as modified there exist conaitions of economic obsolescence, underutilization and inappropriate uses of land constituting blight within the meaning of the HRA Act. The findings stated in the modified Project Plan are incorporated herein by reference. 2.02. It is further specifically found and determined that: a) the land within the Project as modified would not be made available for development without the public intervention and financial assistance described in the Redevelopment Plan; b) the Redevelopment Plan as modified will afford maximum opportunity, consistent with the sound needs of the City as a whole, for the development of the Project by private enterprise; and c) the Redevelopment Plan as modified conforms to the general plan for development of the City as set forth in the comprehensive municipal plan. Section 3. Findings; Housing Redevelopment TIF District No. 1. 3.01. It is found and determined that it is necessary and desirable for the sound and orderly development of the Project and the City as a whole, and for the protection and preservation of the public health, safety, and general welfare, that the authority of the TIF Act be exercised by the City to provide public financial assistance to the TIF District and the Project. 3.02. It is further found and determined, and it is the reasoned opinion of the City, that the development proposed in the TIF Plan could not reasonably be expected to occur solely through private investment within the reasonably foreseeable future and the increased market value of the site that could reasonably be expected to occur without the use of tax increment would be less than the increase in market value estimated to result from the proposed development after subtracting the present value of the projected tax increments for the maximum duration of the TIF District permitted by the TIF Plan. 3.03. The proposed public costs to be financed in part through tax increment financing are necessary to permit the City to realize the full potential of the TIF District and the Project in terms of development intensity, employment opportunities and tax base. 3.04. The TIF Plan for the TIF District conforms to the general plan of development of the City as a whole. 3.05. The TIF Plan for the TIF District will afford maximum oppommity, consistent w/th the sound needs of the City as a whole, for the development of the TIF District and the Project by private enterprise. 3.06. The TIF District is a redevelopment district under Section 469.174, subd. 10 of the TIF Act, based on the findings described in the TIF Plan and other records on file with the City. ..~TB1228 ~2 3.07. The establishment of the TIF District and the approval of the TIF Plan therefor is intended, and in the City's judgment its effect will be, to promote the public purposes and accomplish the objectives specified in the TIF Plan. 3.08. The facts on which findings in this Section are based are stated in the TIF Plan, and are incorporated herein by reference. The City has also relied upon the reports and recommendations of its staff as well as the personal knowledge of members of the City Council in reaching its conclusions regarding the TIF District. ' 3.09. The City elects to make a qualifying local contribution in connection with the TIF District, and thus anticipates that the TIF District will be exempt from state aid loss, all in accordance with Minnesota Statutes, Section 273.1399, subd. 6(d). Section 4. Actions Ratified; Plans Adopted; Certification: Filing. 4.01. The City Council hereby ratifies all actions of the City's staff and the City's fiscal and legal consultants in preparing the Redevelopment Plan and the TIF Plan and arranging for their approval in accordance with the TIF Act. 4.02. The modified Redevelopment Plan and the TIF Plan are hereby approved and adopted. 4.03. The geographic boundaries of the Project and of the TIF District are described in the Plans therefor, respectively, and are incorporated herein by reference. 4.04. The Authority is authorized and directed to txansmit a certified copy of this resolution together with a copy of the Project and TIF Plans to the Auditor of Anoka County with a request that the original tax capacity of the property within the TIF District be certified to the Authority pursuant to Section 469.177, subd. 1 of the TIF Act, and to file a copy of the Project and TIF Plan with the Minnesota Commissioner of Revenue as required by the TIF Act. Approved by the City Council of the City of Columbia Heights Economic Development Authority this 27th day of May, 1997. Offered by: Seconded by: Roll call: Ruettimann Peterson All ayes 6Z~n'e Stfdent ,'~-o-~'Kc i 1 Secretary Mbyo r J6seph~Sturdevant 3