HomeMy WebLinkAboutEDA RES 2009-17COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION 2009 -17
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.
WHEREAS, it has been proposed by the Board of Commissioners ( "Board ") of the Columbia
Heights Economic Development Authority ( "EDA ") and the City of Columbia Heights ( "City") that the
EDA adopt a Modification to the Downtown CBD Revitalization Plan for the CBD Redevelopment
Project (the "Revitalization Plan Modification ") and a Modification to the Tax Increment Financing Plan
(the "TIF Plan Modification ") for the University Avenue Redevelopment (C8) Tax Increment Financing
District ("TIF District ") therein (the Revitalization Plan Modification and the TIC' Plan Modification are
referred to collectively herein as the "Modifications "), all pursuant to and in conformity with applicable
law, including Minnesota Statutes, Sections 469.090 to 469.1082, and Sections 469.174 to 469.1799,
inclusive, as amended (the "Act "), all as reflected in the Modifications and presented for the Board's
consideration; and
WHEREAS, the EDA has investigated the facts relating to the Modifications and has caused the
Modifications to be prepared; and
WHEREAS, the EDA has performed all actions required by law to be performed prior to the
adoption of the Modifications. The EDA has also requested the City Planning Commission to provide for
review of and written comment on Modifications and that the City Council schedule a public hearing on
the Modifications upon published notice as required by law.
NOW, THEREFORE, BE IT RESOLVED by the Board as follows:
I. The EDA hereby reaffirms the original findings for the TIF District, established as a
"redevelopment district" under Minnesota Statutes, Section 469.174, Subd. I0(a)(1).
2. The Modifications include modifying the budget and bringing the TIF PIan into
conformance with current Office of State Auditor requirements and authorizing the purchase of property
with increments from the TIF District. The City is not modifying the boundaries or extending the term of
the TIF District.
3. The EDA further finds that the Modifications will afford maximum opportunity,
consistent with the sound needs for the City as a whole, for the development or redevelopment of the
CBD Redevelopment Project by private enterprise in that the intent is to provide only that public
assistance necessary to make the private developments financially feasible.
4. Conditioned upon the approval thereof by the City Council following its public hearing
thereon, the Modifications, as presented to the EDA on this date, are hereby approved, established and
adopted and shall be placed on file in the office of the Community Development Director.
5. Upon approval of the Modifications by the City Council, the Community Development
Director is authorized and directed to forward a copy of the Modifications to the Anoka County Auditor,
the Minnesota Department of Revenue and the Office of the State Auditor pursuant to Minnesota Statutes
469.175, Subd. 4a.
Approved by the Board of Commissioners of the Columbia Heights Economic Development
Authority this 27" day of May, 2009.
Offered By: W i l l i a m s
Second By: D i e h m
Roll Call: Kel zenberg, Diehm, Her
Nawrocki - Na
ATTEST:
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Secretary