HomeMy WebLinkAboutResolution No. 2001-076 Amendments to Grandview TIF Hazardous Waste SubdistrictI II
RESOLUTI N 0.2001-76
A RESOLUTION AP RO NG (AMENDMENT C1ty OF Edina
TO GRANDVIEW TAX I CR MENt FINANCING L
AND MAKING FINDIN S TH RESPECT THEI SET
BE IT RESOLVED by the City Council f th City bf Edina, Minnesota, as follows:
1. The Housing and Redevelopment Aut orit7 in and for the City of Edina, Minnesota (the
"HRA") and the City have approved a devlopmqlnt plan, as defined ir Minnesota Statutes,
Section 469.002, subdivision 16, design ted las the ;Grandview Area Red velopment Plan (the
"Redevelopment Plan" ), and a redevelo me it pro*ct to be undertaken pursuant thereto, as
defined in Minnesota Statutes, Sectio 46 .002, subdivision 14 deg'( nated as Grandview
Redevelopment Project No. 1 (the "Red velc pment Project"), and tat [ order to finance the
public redevelopment costs to be inc rred by the HRA and Ci in connection with the
Redevelopment Plan and the Redevelo me Project, the HRA ana Ci have approved a tax
increment financing plan, pursuant to e provisions of Minnesota�Stal tes, Section 469.175,
designated as Grandview Tax Incre ent Finanding Plan (the �"Fin ncing Plan"), which
establishes a tax increment financing dist ict, aS defined in Minne to Statutes, Section
469.174, subdivision 9, designated b the HRA! as Grandview Tax Increment Financing
District (Hennepin County No. 1202) ( he ` istrict"). On April 171, 19jQ , December 7, 3999,
and August 15, 2000, the HRA and C ty approved amendments t� the Redevelopment flan,
Redevelopment Project and Financing Ian the " endments" ).Piel�,,
endments approved
on August 15, 2000, establishes Hazard us ubsta ce Subdistrict N . i he "HSS") within the
District and authorizes ,the use of tax ncre ent om the HSS t pay! or reimburse costs of
removal and remediation actions wi respect to hazardous s bsta ces or pollutants or
containments or petroleum releases of ecti g or �hich may affec pr6 erty in the HSS and
other related costs and expenses of suc removal o� remediation ackiori✓ It has been proposed
that the HRA approve amendments to the financing Plan, as amendedby the Amendments,
which is entitled "Modification #I of ax I cremont Financing Plan fb' Hazardous Substance
Subdistrict No. 1" (the "2001 Amend ent' ). The 2001 Amendment i reases the authorized
amount of tax increment revenue fro t e HSS to pay costs o re val and remediation
actions within the HSS'and increases t e au horized principal amo>�nt q bonds to be issued to
finance remediation and removal actio s wi hin the HSS.
2. This Council on October 16, 2001, he a ublic earing on the 2 01 endment after notice
of the public hearing was published in the fficial ewspaper of th Cip not less than ten (10)
days prior to the date of the hearing. t s ch pu lic hearing all erspt s desiring to be heard
with respect to the 2001 Amendment wer give an opportunity, to A press their views with
respect thereto.
I
3. This Council has previously found tha the istriq is a redevelopmlent istrict within the scope
of Minnesota Statutes, Section 469.17 , su divisi�n 10 and the H$S i�! Hazardous Substance
Subdistrict created under Minnesota tatu es, Se tion 469.175, slubdi' ision 7, and the 2001
Amendment will not 'change such pr or nding$. The 2001 am nkd 6 ent further serves the
original goals and objectives of the Ci a HRA in approving tide evelopment Plan, the
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EDINA, MINNESOTA 55424-1394 TDD (952) 826-0379
I �i
Redevelopment Project and the Financ ng Plan o
property in the City in 'order to preve t or reduc
blight, and by providing needed public f cilit es.
4. Pursuant to Minnesota Statutes, Section 469.175,
A. The District, is I a redevelopme t district,
Section 469.174, subdivision 0, a nd tl
Subdistrict created under Minn sota Statt
for the reasons set forth in pre iou find
Amendment does not alter thes pre ious
B. The proposed 'development o b un,
Redevelopment Plan, as ame dec by
Amendment, in the opinion o this Coui
private investment within the r asoi kably
use of tax increment financing i dee ed n
C. The Financing Plan, as am ndec. by
Amendment, conforms to the g nera I plan
whole. i
D: The Financing Plan, as am nded by
Amendment, will afford maxi um oppc
needs of the City as a whole for the d
Redevelopment, Plan by private ntei prise.
E. The City confirms its election othe methc d of tax it
forth in Minnesota Statutes, S ctioa 469 177, subd
respect to the District.
Passed by the Council this 16` day of Octobe 20( 1.
ATTEST:__
City Clerk
STATE OF MINNESOTA )
COUNTY OF HENNEPIN )SS
CITY OF EDINA )
1 the 2001 Am�ndent, by redeveloping
blight, blightin fad' rs and the cause of
division 4, it is herd y found that:
defined in inrik 3ota Statutes,
HSS is a Ha�ar_J s Substance
, Section 469. 75, I ubdivision 7,
s by this Cou�cil� nd the 2001
lings.
taken in accprda ce with the
Amendments Ld the 2001
would not o cur olely through
,seeable futur an� therefore the
ssary.
Amendme s �I' d the 2001
the develop ent f the City as a
Amendments 0i id the 2001
inity consiste ' t h the sound
lopment of Mie ea subject to
CERTIFICATE 6F Cl
I, the undersigned duly appointed and acting C' Cl
that the attached and foregoing Resolutionwas duly
Regular Meeting of October 116, 2001, and as recc rded
WITNESS my hand and seal of said City this day
for the City
[opted by the
the Minutes c
I ¢Imputation set
3, lause (a) with
i�
ina do hereby certify
i City Council at its
Regular Meeting.
20__—•
City Clerk