HomeMy WebLinkAboutResolution No. 2021-79 Modification to Southdale 2 TIF PlanCITY OF EDINA
COUNTY OF HENNEPIN
STATE OF MINNESOTA
Councilmember Cd41.1 introduced the following resolution and moved its adoption:
RESOLUTION 2021-79
RESOLUTION ADOPTING A MODIFICATION TO THE TAX INCREMENT FINANCING PLAN FOR
THE SOUTHDALE 2 TAX INCREMENT FINANCING DISTRICT
BE IT RESOLVED by the City Council (the "Council") of the City of Edina, Minnesota (the "City"), as follows:
Section I. Recitals.
1.01. The Board of Commissioners of the Edina Housing and Redevelopment Authority (the "HRA") have
heretofore established the Southeast Edina Redevelopment Project Area (the "Project Area") and adopted a
Redevelopment Plan therefor and established the Southdale 2 Tax Increment Financing District (the "District") and adopted
the Tax Increment Financing Plan (the "TIF Plan") therefor. It has been proposed that the City approve Modification #4
to the TIF Plan (the "Modification") pursuant to and in conformity with applicable law, including Minnesota Statutes, Sections
469.001 to 469.047 and Sections 469.174 to 469.1794, all inclusive, as amended, (the "Act") and Minnesota Session Laws
2014, Chapter 308, Article 6, Section 8, as amended by Minnesota Session Laws 2017, First Special Session Chapter I,
Article 6, Sections II and 16, and Minnesota Session Laws 2019, First Special Session Chapter 6, Article 7, Section 3 (the
"Special TIF Housing Legislation") all as reflected in the Modification, and presented for the Council's consideration.
1.02. The substantive change within the Modification includes increasing the estimate of budgeted expenditures
for project costs that will be paid or financed using District funds.
1.03. The HRA and City have investigated the facts relating to the Modification and have caused the Modification
to be prepared.
1.04. The HRA and City have performed all actions required by law to be performed prior to the adoption and
approval of the proposed Modification, including, but not limited to, notification of Hennepin County and Independent
School Districts No. 273 and No. 280 having taxing jurisdiction over the property within the District, a review of and
written comment on the Modification by the City Planning Commission, adoption of the Modification by the HRA on August
26, 2021, and the holding of a public hearing upon published notice as required by law.
1.05. The City is not modifying the boundaries of the Project Area.
1.06. The City is not modifying the boundaries nor term of the District.
CITY OF EDINA
4801 West 50th Street • Edina, Minnesota 55424
Resolution 2021-79
Page 2
Section 2. Findings for the Modification.
2.01. The Council hereby reaffirms the original findings for the District, namely that when the District was
established it is in the public interest and is an "economic development district" under Minnesota Statutes, Section 469. I74,
Subd. 12 of the Act.
2.02. In addition, the City makes the following findings:
(a) The Modification conforms to the general plan for development or redevelopment of the City as a whole. The
reason for supporting this finding is that the Modification will generally complement and serve to implement policies
adopted in the City's comprehensive plan.
(b) The Modification will afford maximum opportunity, consistent with the sound needs of the City as a whole, for
the development or redevelopment of the Project Area by private enterprise. The reason for supporting this
finding is that the development activities are necessary so that development and redevelopment by private
enterprise can occur within the Project Area.
(c) The development and redevelopment efforts requiring assistance, in the opinion of the City, would not
reasonably be expected to occur solely through private investment within the reasonably foreseeable future and
therefor the use of tax increment financing is deemed necessary.
Section 3. Public Purpose.
3.01. The adoption of the Modification conforms in all respects to the requirement of the Act and will help fulfill
a need to develop an area of the City which is already built up, to provide housing opportunities, to improve the tax based
and to improve the general economy of the State and thereby serves a public purpose.
Section 4. Approval and Adoption of the Modification; Filing.
4.01. The Modification, as presented to the Council on this date, including without limitation the findings and
statements of objectives contained therein, are hereby approved, ratified, established, and adopted and shall be placed on
file in the office of the HRA Executive Director.
4.02. The staff of the City, the City's advisors and legal counsel are authorized and directed to proceed with the
implementation of the Modification and to negotiate, draft, prepare and present to this Council for its consideration all
further plans, resolutions, documents and contracts necessary for this purpose.
4.03 The HRA Executive Director is authorized and directed to file a copy of the Modification with the
Commissioner of the Minnesota Department of Revenue, the Office of the State Auditor and Hennepin County Auditor
pursuant to Minnesota Statutes 469.175, Subd. 4a.
Resolution 2021-79
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The motion for the adoption of the foregoing resolution was duly seconded by Council member
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and the following voted against the same:
Dated: September 21, 2021
r—DocuSlgned by:
Attest:
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DocuSigned by:
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Sharon Allison, City Clerk James B. Hovland, Mayor
(Seal)
Resolution 2021-79
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STATE OF MINNESOTA
COUNTY OF HENNEPIN SS
CITY OF EDINA CERTIFICATE OF CITY CLERK
I, the undersigned duly appointed and acting City Clerk for the City of Edina do hereby certify that the attached is a true
and correct copy of the Resolution duly adopted by the Edina City Council at its regular meeting of September 21, 2021,
and as recorded in the Minutes of said regular meeting.
WITNESS, my hand and seal of said City this day of , 2021.
Sharon Allison, City Clerk