HomeMy WebLinkAboutResolution No. 2025-101 Amending a Spending Plan for the Southdale 2, Pentagon Park and 70th and Cahill Tax Increment Financing DistrictsCITY OF EDINA
COUNTY OF HENNEPIN
STATE OF MINNESOTA
Council MemberAreA,-- introduced the following resolution and moved its adoption:
RESOLUTION 2025-101
AMENDING A SPENDING PLAN FOR THE SOUTHDALE 2, PENTAGON PARK AND 70th AND
CAHILL TAX INCREMENT FINANCING DISTRICTS
WHEREAS, the Board of Commissioners (the "Board") of the Edina Housing and Redevelopment Authority
(the "HRA") and the City Council (the "Council") of the City of Edina, Minnesota (the "City") established the
Southdale 2, Pentagon Park, and 70th and Cahill (Wooddale/ValleyView) Tax Increment Financing Districts (the "TIF
Districts"), pursuant to, and in accordance with Minnesota Statutes, Section 469.174 to 469.1794, inclusive, as amended
(the "Act"); and
WHEREAS, the HRA adopted and the City approved a written spending plan for the TIF Districts (the
"Spending Plan"), pursuant to, and in accordance with, Minnesota Statutes, Sections 469.176, Subd. 4n inclusive, as
amended ("Subd. 4n") to transfer existing and unobligated tax increment revenues from the TIF Districts for use in
stimulating construction or substantial rehabilitation of private development in a way that will also create or retain jobs in
the City so long as the construction commenced by December 31, 2025; and
WHEREAS, the State Legislature amended Subd. 4n in 2025 to allow a municipality to extend the deadline for
the commencement of construction by one year to December 31, 2026 and also utilize interest earnings on
transferred increment for Spending Plan activities if specifically authorized within an amended spending plan approved by
December 31, 2025; and
WHEREAS, the HRA has investigated the facts relating to the Spending Plan and has caused the Amended
and Restated Spending Plan to be prepared; and
WHEREAS, the HRA and City have performed all actions required by law to be performed prior to the
adoption and approval of the Amended and Restated Spending Plan, including, but not limited to, requesting that the
Council cause notice of a public hearing to be published and hold a public hearing on amending the adopted Spending
Plan, as well as the conditional approval of adopting the Amended and Restated Spending Plan by the HRA on September
25, 2025,.
NOW, THEREFORE BE IT RESOLVED by the City Council (the "Council") of the City of Edina,
Minnesota (the "City"), as follows:
The Council hereby reaffirms the original findings for the TIF Districts and Spending Plan in finding that the adoption
of the proposed Amended and Restated Spending Plan conforms in all respects to the requirement of the Act and
will result in creation or retention of jobs in the State of Minnesota (the "State") and help preserve and enhance
the tax based of the State and thereby serves a public purpose.
CITY OF EDINA
4801 West 50th Street • Edina, Minnesota 55424
Dated: November 18, 2025
Attest:
Resolution 2025-101
Page 2
2. The Council further finds that the Amended and Restated Spending Plan will afford maximum opportunity,
consistent with the sound needs for the City as a whole, or the development or redevelopment of the Southeast
Edina Redevelopment 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 Amended and Restated Spending Plan for the TIF Districts, as presented to the Council on this date, is hereby
approved, established, and adopted and shall be placed on file in the office of the Executive Director of the HRA.
4. HRA staff, advisors and legal counsel are authorized and directed to proceed with the implementation of the
Amended and Restated Spending Plan and to negotiate, draft, prepare and present to this Council for its
consideration all further plans, resolutions, documents and contracts necessary for this purpose. Approval of the
Amended and Restated Spending Plan does not constitute approval of any project of a development agreement
with any developer.
5. The Executive Director of the HRA is authorized and directed to file a copy of the Spending Plan with the Office
of the State Auditor pursuant to Minnesota Statutes 469.176, Subd. 4n.
e motion for the adoption of the foregoing resolution was duly seconded by Council Member
upon a votei being tall thereon, the following voted in favor thereof:
to"Yed-- 3 cit-ALS/1 itb4 tc1-N
and the following voted against the same: VieCOL eS SC.(
Sharon Allison, City Clerk
James B. Hovland, Mayor
Resolution 2025-101
Page 3
STATE OF MINNESOTA
COUNTY OF HENNEPIN
CITY OF EDINA
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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 November I 8, 2025,
and as recorded in the Minutes of said regular meeting.
WITNESS, my hand and seal of said City this day of , 2025.
(Seal)
Sharon Allison, City Clerk