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HomeMy WebLinkAboutResolution 87-44 Couneilmember Petkoff introduced the following resolution, the reading of which was dispensed with by unanimous consent, and moved its adoption: CITY OF COLUMBIA HEIGHTS COUNTY OF ANOKA STATE OF MINNESOTA RESOLUTION NO. 87-44 A RESOLUTION RELATING TO THE MODIFICATION BY THE HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF COLUMBIA HEIGHTS OF THE DOWNTOWN CED REVITALIZATION PLAN RELATING TO THE REDEVELOPMENT PROJECT AND THE ESTABLISHMENT OF THE PROPOSED SULLIVAN LAKE TAX INCREMENT FINANCING DISTRICT LOCATED WITHIN THE REDEVELOPMENT PROJECT AND THE ADOPTION AND APPROVAL BY THE CITY OF COLUMBIA HEIGHTS OF THE PROPOSED TAX INCREMENT FINANCING PLAN FOR THE SULLIVAN LAKE TAX INCREMENT FINANCING DISTRICT. BE IT RESOLVED by the City Council (the "Council") of the City of Columbia Heights, Minnesota (the "City"), as follows: Section 1. Recitals. 1.01. It has been proposed and adopted by the Housing and Redevelopment Authority in and for the City (the "Authority") that the Authority modify by enlargement of the geographic project area the Redevelopment Project pursuant to and in accordance with Minnesota Statutes, Sections 462.411 to 462.716, inclusive, as amended. It has been further proposed and adopted by the Authority that the Authority establish the Sullivan Lake Tax Increment Financing District within the Redevelopment Project pursuant to Minnesota Statutes, Sections 273.71 to 273.78, inclusive, as amended. 1.02. The Authority has eaused to be prepared, and this Council has investigated the facts with respect thereto, a proposed modification of the Downtown CED Revitalization Plan (the "Modified Redevelopment Plan") for the Redevelopment Project, defining more precisely the property to be included in the Redevelopment Project and the proposed Tax Increment Financing Plan for the Sullivan Lake Tax Increment Financing District (collectively referred to as the "Plans"). 1.03. The Authority and the City have performed ail actions required by law to be performed prior to the modification of the Redevelopment Project, the establishment of the Sullivan Lake Tax Increment Financing District and the adoption of the Plans relating thereto. 1.04. The Couneir'hereby determines that it is necessary and in the best interest of the City at this time to modify, by enlargement of the geographic project area, the Redevelopment Project, to establish the Sullivan Lake Tax Increment Financing District and to approve the Plans relating thereto. Section 2. Findings for the Modification of the Redevelopment Project and the Establishment of the Proposed Sullivan Lake Tax Increment Financing District therein. '2.01. The Council hereby finds, determines and declares that the modification, by enlargement of the geographic project area, of the Redevelopment Project is intended and, in the judgment of this Council, its effect will be, to further provide an impetus for commercial, industrial and housing development, increase employment and otherwise promote certain public purposes and accomplish certain objectives as specified in the Modified Redevelopment Plan. 2.02. The Council hereby finds, determines and declares that the establishment of the proposed Sullivan Lake Tax Increment Financing District located within the Redevelopment Project is intended and, in the judgment of this Council, its effect will be, to further provide an impetus for housing, commercial and industrial development, increase employment and otherwise promote certain public purposes and accomplish certain objectives as specified in the Tax Increment Financing Plan for the Sullivan Lake Tax Increment Financing District. 2.03. The Council finds, determines and declares that the proposed development, housing, and redevelopment, 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. 2.04. The Council finds, determines and declares that the proposed Tax Increment Financing Plan for said Sullivan Lake Tax Increment Financing District conforms to the comprehensive plan of the City. ' 2.05. The Council finds, determines and declares that the proposed Tax Increment Financing Plan will afford maximum opportunity, be consistent°with the sound needs of the City as a whole, for the development or redevelopment of the Redevelopment Project by private enterprise. 2.06. The Council hereby finds, determines and declares that the Sullivan Lake Tax Increment Financing District is an economic development type .of tax increment financing district which consists of any project, or portions of a project, not meeting the requirements found in the definition of redevelopment district, mined underground space development district or housing district, but which the authority finds to be in the public interest because: (a) it will discourage commerce, industry or manufacturing from moving their operations to another state; or (b) it will result in increased employment in the municipality; or (e) it will result in preservation and enhancement of the tax base of the municipality. 2.07. The Council determines and declares that Redevelopment Project is hereby modified and that that Sullivan Lake Tax Increment Financing District is hereby established. 2.08. The Council further finds, declares and determines that the City made the above findings stated in Section 2 and has set forth the reasons and supporting facts for each determination in writing, attached hereto as Exhibit A. Section 3. Adoption of the Respective Plans. 3.01. The respective Plans presented to the Council on this date, are hereby approved and adopted and shall be placed on file in the office of the City Clerk-Treasurer. Section 4. Implementation of the Modified Redevelopment Plan and Tax Increment Financing Plan. 4.01. The officers of the City, the'City's finaneiaI advisor, underwriter and the City's legal counsel and bond counsel are authorized and directed to proceed with the implementation of the respective Plans and for this purpose to negotiate, draft, prepare and present to this Council for its consideration all further plans, resolutions, documents and contracts necessary for this purpose. The motion for the adoption of the foregoin~ resolution was duly seconded by Councilmember Pau]son , and upon vote being taken thereon, the following voted in favor thereof: Paulson, Petkoff, Carlson, Peterson, Nawrocki' and the following voted against the same: None Whereupon said resolution was declared duly passed and adopted,~nd yvap?s//gned b$. the May°r and at tested t° bY the City Clerk'TTreasur/e.r/'/~ ~/f///'/  Mayor City Clerk-Treasurer (SEAL)