Res 01-04HMOUND HOUSING AND REDEVELOPMENT AUTHORITY
RESOLUTION NO. 01-04H
RESOLUTION ADOPTING THE MODIFICATION TO THE DEVELOPMENT
PROGRAM FOR DEVELOPMENT DISTRICT NO. 1 AND ADOPTING
MODIFICATION TO THE TAX INCREMENT FINANCING PLAN FOR TAX
INCREMENT FINANCING DISTRICT
NO. 1-1 THEREIN.
WHEREAS, it has been proposed by the Board of Commissioners (the "Board") of the Housing and
Redevelopment Authority of Mound (the "HRA") and the City of Mound (the "City") that the HRA
adopt the Modification to the Development Program (the "Development Program Modification") for
Development District No. I and adopt a Modification to the Tax Increment Financing Plan (the "Tax
Increment Plan Modification" or together with the Development Program Modification, the
"Modifications") for Tax Increment Financing District No. 1-1 therein (the "District"), all pursuant to
and in conformity with applicable law, including Minnesota Statutes, Sections 469.001 through
469.047, and Sections 469.174 to 469.179, inclusive, as amended (the "Act"), all as reflected in the
Modifications and presented for the Board's consideration; and
The Board of Commissioners (the "Board") of the Housing and Redevelopment Authority (the "HRA")
of the City has heretofore established Development District No. 1 and adopted the Development
Program therefor and established Tax Increment Financing Distdct No. 1-1 therein (the "District") and
adopted the Tax Increment Financing Plan therefor. It has been proposed by the HRA that the City
adopt a Modification to the Development Program (the "Development Program Modification") and
adopt a Modification to the Tax Increment Financing Plan (the "Tax Increment Plan Modification" or
together with the Development Program Modification, the "Modifications"), all pursuant to and in
conformity with applicable law, including Minnesota Statutes,469.001 through 469.047, and Sections
469.174 to 469.179, inclusive as amended (the "Act"), all as reflected in the Modifications, and
presented for the Council's consideration.
WHEREAS, the HRA has investigated the facts relating to the Modifications and has caused the
Modifications to be prepared; and
WHEREAS, the HRA has performed all actions required by law to be performed prior to the adoption
of the Modifications. The HRA has also requested the City Planning Commission to provide for
review of and written comment on Modifications and that the 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:
The HRA hereby reaffirms that the district as modified herein is in the public interest
and is a "redevelopment district" under Minnesota Statutes, Section 469.174, subd.
10 (a)(1). And finds that the Modifications conform in all respects to the
requirements of the Act and will help fulfill a need to develop an area of the State of
Minnesota which is already built up and that the adoption of the proposed
Modifications will help provide employment opportunities in the State and in the
preservation and enhancement of the tax base of the City and the State because it
will discourage commerce and industry from moving their operations to another state
or municipality and thereby serves a public purpose.
o
HRA Resolution No. 01-04H
The HRA 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 project area by private enterprise in that the intent is to provide
only that public assistance necessary to make the private developments financially
feasible.
Conditioned upon the approval thereof by the City Council following its public hearing
thereon, the Modifications, as presented to the HRA on this date, are hereby
approved, established and adopted and shall be placed on file in the office of the City
Clerk.
Upon approval of the Modifications by the City Council, the staff, the HRA's advisors
and legal counsel are authorized and directed to proceed with the implementation of
the Modifications 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 Modifications does not constitute
approval of any project or a Development Agreement with any developer.
Upon approval of the Modifications by the City Council, the City Clerk is authorized
and directed to forward a copy of the Modifications to the Hennepin County Auditor.
The City Clerk is authorized and directed to forward a copy of the Modifications to the
Hennepin County Auditor.
Approved by the Board of Commissioners of the Mound this 24th day of April, 2001.
AtteJt: Executive Director
Chair