HomeMy WebLinkAboutResolution No. 2021-12 Eden Willson TIFEDINA HOUSING AND REDEVELOPMENT AUTHORITY
RESOLUTION NO. 2021-12
ESTABLISHING THE EDEN/W8LLSON REDEVELOPMENT TAX INCREMENT FINANCING
DISTRICT AND APPROVING A TAX INCREMENT FINANCING PLAN THEREFOR
WHEREAS, khas been proposed bythe Board of Commissioners (the" of the Edina Housing and
Redevelopment Authority (the "HRK)and the City of Edina (the "City") that the HRAadopt a Modification to the
Redevelopment Plan (the "Redevelopment Plan Mod0caton")for the Southeast Edina Redevelopment Project Area (the
"Project Area") to moCobUsh the Eden /VYiUmon Redevelopment Tax Increment Financing District (the "District") and adopt
a Tax Increment Financing Plan (the "TIF Plan") therefor (the Redevelopment Plan Modification and the TIF Plan are referred
to collectively herein as the "P|uns"), all pursuant to and in conformity with applicable law, including Minnesota Statutes,
Secdona469.O0| oo469.O47and Sections 469.|74to46g.|794, inclusive, asamended (the "Act"), all usreflected 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 HRA has performed all actions required bylaw to be performed prior to the adoption of the Plans.
The HRA has also requested the City Planning Commission to provide for review of and written comment on the Plans
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 HKAhereby finds that the District is\nthe public interest and bn"redevelopment district" Linder Minnesota
Statutes, Section 489.|74, SUbd. I 0(a)(1) and finds that the adoption of the proposed Plans conforms in all respects
to the requirements of the Act and will help fulfill a need to develop an area of the City which is already built up,
will help provide employment opportunities in the State of Minnesota and will help in the preservation and
enhancement of the tax base of the City and State.
2 TheHKA further finds that the Plans will afford maximum opportunity, consistent with the sound needs for the
City asawhole, for the development orredevelopment ofthe Project Area bvprivate enterprise |nthat the intent
is to provide only that public assistance necessary to make the private developments financially feasible.
3. The boundaries ofthe Project Area are not being expanded,
4, The reasons and facts supporting the findings in this resolution are described in the Plans.
5, The HKA elects to calculate 0mco| disparities 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 b,the City Council following its public hearing thereon, the Plans, 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 Director of the HRA.
CITY 0FEDINA
Edina HRA Resolution 2021-12
Upon approval of the Plans by the City Council, the staff, theHRA's advisors and legal counsel are authorized and
directed to proceed with the implementation of the Plans and for this purpose to negotiate, draft, prepare and
present to this Board for its consideration all further p|ons, naao|udons, documents and mmncmccm necessary for
this purpose. Approval ofthe Plans does not constitute approval ofany project oradeve|opmentagreementwith
any developer.
E. Upon approval of the Plans by the City Council, the Executive Director of the HRA is authorized and directed to
forward zcopy ofthe Plans oothe Minnesota Department ofRevenue and the Office ofthe State Auditor pursuant
no Minnesota Statutes 469.|75` 3ubd, 4a.
9. The Executive Director of the HKA is authorized and directed to forward a copy of the Plans to the Hennepin
County Auditor and request that the Auditor certify the original tax capoci of the District as described in the
Plans, all |naccordance with Minnesota Statutes 469.|77. &\ \
Approved by the Board on October 14, 202 1.
ATTEST:
STATE OFM|NNESOTA
COUNTY UFHENNEPIN0 6S
CITY OF EDINA
James B, Hovland, Chair
?jam'ZesPrie#rce,ecre—ta /'
CERTIFICATE OF EXECUTIVE 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 a true and correct copy of the Resolution duly adopted by the Edina Housing and
Redevelopment Authority xtits Regular Meeting ofOctober |4,2U2|.and aorecorded |othe Minutes ofsaid Regular Meeting.
WITNESS myhand and seal o/said City this day of 2F[.