Res 00-114AI Jl d, i i ni i ~ , ,at ,i ,t
I-HLA RESOLUTION NO. 00-114A
RESOLUTION APPROVING CONTRACT
FOR PRIVATE REDEVELOPMENT
(MetroPlains)
WHEREAS, the City of Mound and HRA have established Development District No. 1
("Project Area") under the authority oflVfinnesota Statutes, Chapter 469 (the "Act"), and in
accordance with the provisions of this Agreement has established within the Project Area the Tax
Increment Financing District No. 1-2 ("TIF District") and adopted a Tax Increment Financing Plan
("hereinafter defined as the "Tax Increment Plan") for the ~ District to facilitate the financing of
public development and redevelopment costs in the Project Area; and
WHEREAS, the HRA deems it to be in the public interest to facilitate and encourage
redevelopment of the Project Area by a combination of public and private activity within the Project
Area and in accordance with the Tax Increment Plan as adopted by the City; and
WHEREAS, MetroPlains Development LLC (the "Redeveloper") has proposed a
development (hereinafter defined as the "Development") within such Project Area which the
HRA believes will promote and carry out the objectives for which redevelopment is undertaken,
will be in the vital best interests of the City, will promote the health, safety, morals, and welfare
of its residents and will be in accord with the public purposes and provisions of the applicable
state and local laws and requirements under which activities within the Project Area have been
undertaken and are being assisted; and
WHEREAS, the HRA has reviewed a proposed agreement between the HRA and the
Redeveloper entitled Contract for Private Redevelopment between the I-IRA and the Redeveloper
("Contract") and is fully informed as to its provisions.
NOW, THEREFORE, be it resolved by the Housing and Redevelopment Authority that the
proposed Contract is hereby approved, and the Executive Director and the Board Chair are directed
to take all actions and do all things necessary to carry out the I-IRA's obligations thereunder. Such
approval is conditioned upon the receipt of a certification from the HRA's fiscal consultant to the
effect that the Development as proposed would not be likely to happen but for the level of assistance
to be provided by.the HRA under the Contract.
Passed by the Housing and Redevelopment Authority of the City of Mound, Minnesota this
4~ day of December, 2000.
-¥
Weycker.
The foregoing resolution was moved by Councilmember Brown and seconded by
The following Couneilmembers voted in the affn~ative:
Meisel, Weyeker and Brown
The following Councilmembers voted in the negative:
ga~lu$.
Ahrens absent and excused.
ATTEST:
Kandis M. Hanson, Acting City Clerk
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