HomeMy WebLinkAboutHRA Res 2012-003 Modifying Southeast Edina Redevelopment Projct & TIF District Cent Lake RESOLUTION NO. 2012-3
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City of Edina
RESOLUTION ADOPTING A MODIFICATION TO THE SOUTHEAST EDINA REVELOPMENT
PROJECT AREA AND TAX INCREMENT FINANCING PLAN FOR CENTENNIAL LAKES TAX
INCREMENT FINANCING DISTRICT.
WHEREAS, it has been proposed by the Board of Commissioners ("Board") of the Edina
Housing and Redevelopment Authority ("HRA") and the City of Edina ("City") that the HRA adopt a
Modification to the Southeast Edina Redevelopment Project Area and a Modification to the Tax
Increment Financing Plan (the "TIF Plan") for Centennial Lakes Tax Increment Financing District ("TIF
District") (collectively the "Modifications") therein, all pursuant to and in conformity with applicable
law, including Minnesota Statutes, Sections 469.001 to 469.047 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 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 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:
1. The HRA hereby makes all the findings regarding the TIF District that are set forth in
the Modifications, including the affirmation that the TIF District remains a redevelopment district in
accordance with the original findings in the TIF Plan dated March 7, 1988.
2. The purpose of the Modifications is to expand the boundaries of the Southeast Edina
Redevelopment Project Area (the "Project Area"), to authorize the use of tax increment to acquire
property in the Project Area, facilitate budget modifications and to bring the TIF Plan for the TIF
District into compliance with the most recent State Auditor's requirements.
3. The City is not modifying the boundaries or extending the term of the TIF District.
4. 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 Executive Directors.
City Hall 952-927-8861
4801 WEST 50TH STREET FAX 952-826-0390
EDINA, MINNESOTA,55424-1394 www.CityofEdina.com TTY 952-826-0379
HRA Resolution No. 2012-03
Page 2
5. Upon approval of the Modifications by the City Council, the Executive Director is
authorized and directed to forward a copy of the Modifications to the Hennepin County Auditor, the
6. 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 Edina Hdusing and Redevelopment Authority
this 21St day of February, 2012.
Attest:
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Scott H. Neal, Executiv Director James B. Hovland, Chair
STATE OF MINNESOTA )
COUNTY OF HENNEPIN ) SS
CITY OF EDINA )
CERTIFICATE OF EXECUTIVE DIRECTOR
I, the undersigned duly appointed and acting Executive Director for the Edina Housing and
Redevelopment Authority, do hereby certify that the attached and foregoing Resolution is a true and
correct copy of the Resolution duly adopted by the Edina Housing and Redevelopment Authority at its
Regular Meeting of February 21, 2012, and as recorded in the Minutes of said Regular Meeting.
WITNESS my hand and seal of said City this day of 20_
Execukive Director
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