HomeMy WebLinkAboutHRA Resolution No. 2000-06 Grandview Redevelopment Project 1 Modification w91A, HRA RESOLUTION NO. 2000-06
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RESOLUTION APPROVING MODIFICATION OF GRANDVIEW LILY Of [I'ditM
REDEVELOPMENT PROJECT NO. 1, GRANDVIEW AREA
REDEVELOPMENT PLAN AND GRANDVIEW TAX INCREMENT FINANCING
PLAN AND REQUESTING THE APPROVAL OF THE CITY COUNCIL
BE IT RESOLVED,by the Board of Commissioners (the "Board") of the Housing
and Redevelopment Authority in and for the City of Edina, Minnesota(the"HRA"), as follows:
1. Proposed Amendment. The HRA and the City of Edina (the "City") have
approved a redevelopment plan, as defined in Minnesota Statutes, Section 469.002, subdivision
16, designated as the Grandview Area Redevelopment Plan (the "Redevelopment Plan"), and a
redevelopment project to be undertaken pursuant thereto, as defined in Minnesota Statutes,
Section 469.002, subdivision 14 designated as Grandview Redevelopment Project No. 1 (the
"Redevelopment Project"), and that in order to finance the public redevelopment costs to be
incurred by the HRA and City in connection with the Redevelopment Plan and the
Redevelopment Project, the HRA and City have approved a tax increment financing plan,
pursuant to the provisions of Minnesota Statutes, Section 469.175, designated as Grandview Tax
Increment Financing Plan (the "Financing Plan"), which establishes a tax increment financing
district, as defined in Minnesota Statutes, Section 469.174, subdivision 9, designated by the HRA
as Grandview Tax Increment Financing District (Hennepin County No. 1202) (the "District").
On April 7, 1997 and December 7, 1999, the HRA and City approved amendments to the
Redevelopment Plan, Redevelopment Project and Financing Plan (the "Amendments"). It has
been proposed that the HRA approve amendments to the Redevelopment Project, Redevelopment
Plan and Financing Plan, as amended by the Amendments, which is entitled "Modification of
Grandview Redevelopment Project No. 1, Grandview Area Redevelopment Plan and Grandview
Tax Increment Financing Plan for Tax Increment Financing District No. 1202" (the "2000
Amendment"). The 2000 Amendment establishes Hazardous Substance Subdistrict No. 1 (the
"HSS") within the District and authorizes the use of tax increment derived from the HSS to pay
or reimburse costs specified within Minnesota Statutes, Section 469.176, subdivision 4c, within
the HSS.
2. Approval of 2000 Amendment. The 2000 Amendment has been presented to
this Board and is ordered placed on file in the office of the Executive Director of the HRA, and
the 2000 Amendment is hereby approved. The 2000 Amendment further serves the original
goals and objectives of the City and HRA in approving the Redevelopment Plan, the
Redevelopment Project and the Financing Plan and the Amendments, by redeveloping property
in the City in order to prevent or reduce blight, blighting factors and the causes of blight, and by
providing needed public facilities. The HRA makes the findings specified in Subsection 2-4 of
the 2000 Amendment which findings and the reasons and supporting facts thereof are by
reference incorporated herein.
City Hall (952) 927-8861
4801 WEST 50TH STREET FAX(952)826-0390
EDINA,MINNESOTA 55424-1394 TDD(952)826-0379