HomeMy WebLinkAboutResolution No. 2019-10 Amundson Ave TIF DistrictRESOLUTION NO. 2019-10
ESTABLISHING THE AMUNDSON AVENUE TAX INCREMENT FINANCING DISTRICT
AND APROVING A TAX INCREMENT FINANCING PLAN THEREFOR
WHEREAS, it has been proposed by the Board of Commissioners (the "Board") of the Edina Housing and
Redevelopment Authority (the "HKA'1 and the City of Edina (the "City") that the HRA adopt : Modification to the
Redevelopment Plan (the "Redevelopment Plan Modification") for the Southeast Edina Redevelopment Project Area (the
"Project Area") to establish the Amundson Avenue Tax Increment Financing District (the "District") and adopt uTax
Increment Financing Plan (the"TiF P|an") therefor (the Redevelopment Plan Modification and the T|F Plan are referred to
collectively herein as the "Plans"), all pursuant to and in conformity with applicable |avv including Minnesota Statutes,
Secdonu469.O0| to469.U47and Sections 489.|74to469.|794, induuive, as amended (the "Act"), and Minnesota Session
Laws 2O|4.Chapter 3O8.Article 6,Section 8.usamended 6vMinnesota Session Laws 2O|7.First Special Session Chapter
1, Article 6, Sections I I and 16 and Minnesota Session Laws 2019, First Special Session Chapter 6, Article 7, Section 3 (the
"Spedo| T|F Housing Lenidmtion`) all as reflected in the Plans and presented for the Board's consideration; and
WHEREAS, the HRA has investigated the facts relating to the Plans and has caused the Plans to be prepared; and
WHEREAS, the HN\has performed all actions required bylaw to be performedprior mthe adoptionofthe Plans.
The HRA has also requested the City Planning Commission to provide for review of and written comment onPlans and
that the Council schedule a public hearing on the Plans upon published notice as required by law.
NOW, THEREFORE BE IT RESOLVED by the Board as follows:
The HRA hereby finds that the District is in the public interest and is a "housing district"under Minnesota Statutes,
Section 469.174, Subd. I I and the Special TIF Housing Legislation, finds that the adoption of the proposed Plans
conforms in all nampmcta to the requirements of the Act and will help fulfill u need to develop an area of the State
ofMinnesota for affordable and high -quality housing and thereby serves u public purpose.
The HRAfurther finds that the Plans 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.
3. The boundaries of the Project Area are not being expanded.
4. The reasons and facts supporting the findings in this resolution are described in the Plans.
S. The HKA elects to calculate fiscal d|apuhdcs for the District in accordance with Minnesota Statutes, Section
469.177, Subd. 3, clause b, which means the fiscal disparities contribution would be taken from inside the District.
6. Conditioned upon the approval thereof bvthe City Council hd/ovvng its public hearing thereon, the Planx, as
presented tothe HKAonthis date, are hereby approved, established and adopted and shall be placed on file in the
office of the Executive Director of the HRA.
Upon approval of the Plans by the City Council, the staff, theHFA's advisors and legal counsel are authorized and
directed to proceed with the implementation of the Plana 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 Plans does not constitute approval of any project or a development agreement with
CITY OF EDINA
480lWest 5OdhStreet ° Edina, Minnesota 55424
any developer.
8. Upon approval of the Plans by the City Council, the Executive Director of the HRA is authorized and directed to
forward a copy of the Plans to the Minnesota Department of Revenue and the Office of the State Auditor pursuant
toMinnesota Statutes 469.|75.Subd.4a.
9. The Executive Director of the HRA is authorized and directed to forward opy
of the Plans to the Hennepin
County Auditor and request that the Auditor certify the original tax capaci fthe District as described in the
P|ans, all in accordance with Minnesota Statutes 469.|77. 1 \ \
Approved by the Board on December 12, 2019,
Oval"0
STATE OFM|NNESOTA
COUNTY OFHENNEP|N0 SS
CITY OFE0NA )
James B.Hovland, Chair
��k'6
Michael Fischer, Secretary
CERTIFICATE OFEXECUTIVE DIRECTOR
1, 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 o true and correct copy of the Resolution duly adopted by the Edina Housing and
Redevelopment Authority at its Regular Meeting of December 12, 2019, and as recorded in the Minutes of said Regular Meeting.
WITNESS my hand and seal of said City this day of 2019.
01
Executive Director