HomeMy WebLinkAboutResolution 83-43RESOLUTION 83-43
BEING A RESOLUTION OF THE CITY COUNCIL FOR THE CITY OF COLUMBIA HEIGHTS
APPROVING A[~D ADOPTING A TAX INCREMENT FINANCING PLAN
WHEREAS, the Housing and Redevelopment Authority in and for the City of Columbia Heights
(the "Authority") wishes to establish a Tax Increment Financing Housing District,
and in Resolution 83-2 adopted and approved a tax increment financing plan (the
"Tax Increment Plan") and has submitted the Tax Increment Plan to the City Council
of the C~ity of Columbia Heights (the "Council~') for its approval pursuant to Minn-
esota s~atutes, Sections 273.71-273.78 as amended;
NOW, THEREFORE BE IT RESOLVED by the City Council of the City of Columbia Heights as follows:
I. That the tax increment financing district proposed by the Authority a redevelopment
district. The related project, as defined in Minnesota Statutes~ Section 462.421, Subd.
14 (the "Project") is a residential housing development consisting of between 100 to
200 Co~nhouses and/or condominium units. The Project will be built on approximately
15.3 acres of land located along University Avenue Northeast, comprised of 8.6 acres
which will be purchased from School District #13~ and an additional 6.7 acres of con-
tiguous ]and which the Authority will acquire.
2. That the City of Columbia Heights, through its Housing and Redevelopment Authority,
will consider the use of tax increment financing to finance soil improvements on the
Property which are necessary prior to construction of the Project.
3. That development of the Property solely through private investment would not occur
in the reasonably forseeable future without the use of tax increment financing to
assemble the property and fund the soil improvements, and therefore the use of tax
increment financing is necessary.
4. That the Tax Increment Plan and the Project will provide maximum opportunity, consist-
ent with the sound needs of the City of Columbia Heights as a whole, for development
of housing of private enterprise.
5. That the Tax Increment Plan conforms to the comprehensive plan for development of
the City of Columbia Heights as whole.
6. That the Tax Increment Plan is hereby adopted and approved.
Passed this 12th day of September, 1983 by the Columbia Heights City Council.
Offered by: Hen tges
Seconded by: Hovl and
Roll call: Hovland, Petkoff,
Norberg--nay
JQ..~;;J~nne Student~ Council 'Secretary
Bruce ~?I~awrocki, Mayor