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HomeMy WebLinkAboutEDA RES 2016-29COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY CITY OF COLUMBIA HEIGHTS ANOKA COUNTY STATE OF MINNESOTA RESOLUTION NO, 2016-29 RESOI.uTjON ADOPTING A MODIFICATION "To THE REDEVELOPMENT PLAN FOR THE DOWNTOWN CENTRAL BUSINESS REDEVELOPMENT PROJECT, ESTABLISHING 'THE HY-VEE TAX INCREMENT FINANCING DISTRICT THEREIN AND ADOPTING A TAX INCREMENT FINANCING PLAN THEREFOR. WHEREAS, the Board of Commissioners (the "Board") of the Columbia Heights Economic Development Authority (the "'EDA") has proposed to adopt a Modification to the Redevelopment Plan (the "Redevelopment Plan Modification") for the Downtown Central Business Redevelopment Project (the "Project Area") and establish the Central Valu Center Tax Increment Financing District (the "District") and adopt a 'rax Increment Financing Plan (the " "TIE Plan") therefor (the Redevelopment Plan Modification and the TIF Plan are referred to collectively herein as the "Plans"'), all pursuant to and in conformity with applicable law, including Minnesota Statutes, Sections 469,090 to 469.1082, and Sections, 469.174 to 469.1794, inclusive, as amended (the "'Act"), all as reflected in the Plans and presented for the Board's consideration; and WHEREAS, the I'DA has investigated the fficts relating to the Plans and has caused the Plans to be prepared; and WHEREAS, the EDA has performed all actions required by law to be performed prior to the adoption of the Plans; and WHEREAS, the EDA has requested the City Planning Commission to provide for review of and written comment on the Plans at a meeting scheduled for October 4, 201.6; and WHEREAS, the City Council of the City will hold a public hearing on the Plans on October 24, 2016. NOW, THEREFORE, BE IT RESOLVED by the Board as follows: The EDA hereby finds that the District is in the public interest and is a "redevelopment district" under Minnesota Statutes, Section 469, 174, Subd, 10, and finds that the adoption of the proposed Plans, conform in all respects to the requirements of the Act and will help fulfill a need to redevelop an area of the State of Minnesota which is already built up and that the adoption of the proposed plans will help provide employment opportunities in the State and will preserve and enhance the tax base of the City and the State, and thereby serves a public purpose. 2. The :EDA further finds that the Plans will afford maximum opportunity, consistent with the sound needs for the City as a whole, for the development or redevelopment of the Project ject Area by private enterprise in that the intent is to provide only that public assistance necessary to make the private developments financially feasible. 3. The boundaries of-the Project Area are not being expanded. 4. The reasons and facts supporting the findings in this resolution are described in the Plans. The ED�A elects to calculate fiscal disparities for the District in accordance with Minnesota Statutes, Section 469,177, Subd, 3, clause b, which means the fiscal disparities contribution will be taken from inside the District. Subject to approval of the Plans by the City Council following its public hearing thereon, the Plans, 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 Executive Director of the EDA. T Subject to approval of the Plans by the City Council, the staff, the EDA's advisors and legal counsel are authorized and directed to proceed with the implementation of the Plans and for this purpose to negotiate, draft, prepare and present to this Board for its consideration all further plans, resolutions, documents and contracts necessary for this purpose. Approval of the Plans does not constitute approval of any project or of a Development Agreement with any developer. Subject to approval of the Plans by the City Council, the Executive Director of the EDA is authorized and directed to forward a copy of the Plans to the Minnesota Department of Revenue and the Office of the State Auditor pursuant to Minnesota Statutes 469. 175, Subd. 4a. Subg . ect to approval of the Plans by the City Council, the Executive Director of the EDA is authorized and directed to forward a copy of the Plans to the Anoka Auditor and request that the Auditor certify the original tax capacity of the District as described in the Plans, all in accordance with Minnesota Statutes 469.177. Approved by the Board of Commissioners of the Columbia Heights Economic Development Authority on October 2,4, 2016. resident U -7411 I 1 Secretary