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HomeMy WebLinkAboutResolution No. 2009-84CITY OF COLUMBIA HEIGHTS RESOLUTION 2009-84 RESOLUTION ADOPTING A MODIFICATION TO THE DOWNTOWN CENTRAL BUSINESS DISTRICT (CBD) REVITALIZATION PLAN FOR THE CBD REDEVELOPMENT PROJECT; AND A MODIFICATION TO THE TAX INCREMENT FINANCING PLAN FOR THE UNIVERSITY AVENUE REDEVELOPMENT (C8) TAX INCREMENT FINANCING DISTRICT. RECITALS Section 1. 1.01. The Board of Commissioners ("Board") of the Columbia Heights Economic Development Authority ("EDA") has heretofore established the CBD Redevelopment Project (the "Project Area") and adopted the Downtown CBD Revitalization Plan therefor. It has been proposed by the EDA and the City that the City adopt a Modification to the Tax Increment Financing Plan (the "TIF Plan Modification") for the University Avenue Redevelopment (C8) Tax Increment Financing District (the "TIF District") within the Project Area (referred to as the "Modification"), all pursuant to and in conformity with applicable law, including Minnesota Statutes, Sections 469.001 to 469.047, Sections 469.090 to 469.1082, and Sections 469.174 to 469.1799, all inclusive, as amended, (the "Act") all as reflected in the Modification, and presented for the Council's consideration. 1.02. The EDA and City have investigated the facts relating to the Modification and have caused the Modification to be prepared. 1.03. The EDA and City have performed all actions required by law to be performed prior to the adoption and approval of the proposed Modification, including, but not limited to, notification of Anoka County and Independent School District No. 13 having taxing jurisdiction over the property to be included in the TIF District, a review of and written comment on the Modification by the City Planning Commission, approval of the Modification by the EDA on May 27, 2009, and the holding of a public hearing upon published notice as required by law. 1.04. The City is not modifying the boundaries or extending the term of the TIF District. 1.05. The City is not modifying the boundaries of the Project Area or the redevelopment plan therefor. Section. 2. Findings for the Adoption and Approval of the Modification The Council hereby reaffirms the original finding that the TIF District is "redevelopment district" under Minnesota Statutes, Section 469.174, Subd. 10(a)(1) and predecessor statutes. In addition, the City makes the following findings: a. The Modification conforms to the general plan for development or redevelopment of the City as a whole. The fact supporting this finding is that the Tax Increment Plan Modification will generally complement and. serve to implement policies adopted in the City's comprehensive plan, and tl-e Planning Commission made a similar finding. b. The Modification will afford. maximum opportunity, consistent with the sound needs of the City as a whole, for the development or redevelopment of the Project by private enterprise. The facts supporting this finding are that the Modification will help the EDA to continue redevelopment of the Project Area by private enterprise, particularly by addressing the problem of foreclosed and other substandard housing. c. The redevelopment proposed. in the Modification, in the opinion of the City, would not reasonably be expected to occur solely through private investment within the reasonably foreseeable future and therefore the use of tax increment financing is deemed necessary. This finding is supported by the fact that City the faces a significant housing foreclosure crisis, and absent public financial assistance to acquire and rehabilitate houses throughout the Project Area, such houses are likely to remain vacant and continue to serve as a blighting influence in the City. Based on the City's experience, redevelopment of foreclosed houses will not occur in the reasonably foreseeable future without assistance. d. The Modification include modifying the budget and bringing the Tax Increment Financing Plan into conformance with current Office of State Auditor requirements and authorizing the purchase of property with increments from the TIF District. The Council hereby finds that the Modification are intended to provide an impetus to accomplish certain objectives as specified in the Modification. Section 3. Public Purpose 3.01. The adoption of the Modifacation conforms in all respects to the requirements of the Act and will help fulfill a need to redevelop an area of the State which is already built up, to provide employment opportunities, to provide housing opportunities, to improve the tax base and to improve the general economy of the State and thereby serves a public purpose. Section 4. Approval and Adoption of the Modification 4.01. Conditioned upon the approval thereof by the Council following its public hearing thereon, the Modification, as presented to the Council on this date, is hereby approved, established and adopted and shall be placed on file in the office of Community Development Director. 4.02. The staff, the City's advisors and legal counsel are authorized and directed to proceed with the implementation of the Modification and for this purpose to negotiate, draft, prepare and present to this Council for its consideration all. further Modification, resolutions, documents and contracts necessary for this purpose. Approval of the Modification does not constitute approval of any project or a Development Agreement with any developer. 4.03 Upon approval of the Modification by the Council., the Community Development Director is authorized and directed to forward a copy of the Modification to the Commissioner of the Minnesota Department of Revenue and the Office of the State Auditor pursuant to M.S., Section 469.175, Subd. 4a. 4.04. The Community Development Director is further authorized and directed to file a copy of the Modification with Anoka County Auditor. Passed this 22"d day of June 2009 Offered by: Williams Second by: Kelzenberg Roll call: Ayes: Peterson, ATTEST: r atricia Muscovitz CMC City CI k