#82-021 03-16-82 Approve Tax Increment Finance Medley Park2 C A Resolution 82-21
March 16, 1982
Member Anderson introduced and read the following resolution and moved its
adoption:
RESOLUTION APPROVING THE TAX INCREMENT FINANCING PLAN
FOR THE MEDLEY PARK TAX INCREMENT FINANCE DISTRICT,
CITY OF GOLDEN VALLEY, MINNESOTA
WHEREAS, the Housing and Redevelopment Authority of the City of Golden
Valley was established by the City Council of the City of Golden Valley based on
findings that there is a shortage of decent, safe and sanitary dwelling accommoda-
tions available to persons of low income and their families at rentals they can
afford; and
WHEREAS, the Medley Park Housing District has been established by the
Housing and Redevelopment Authority of the City of Golden Valley because it is
necessary to alleviate a shortage of low and moderate income housing;
BE IT RESOLVED that the City Council of the City of Golden Valley hereby
makes the following findings and determinations:
1. That the Medley Park Tax Increment Finance District is a housing
district in that it has been established and conforms to the requirements
therefore contained in the Minnesota Municipal Housing and Redevelopment Act.
2. That the Medley Park Housing District and the townhome project
contained therein would not occur coley through private investment within the
reasonably foreseeable future and, therefore, the use of tax increment financing
is necessary.
3. That the Medley Park Tax Increment Financing Plan conforms to the
general plan for the development of the municipality as a whole.
4. That the Medley Park Tax Increment Financing Plan will afford maximum
opportunity, consistent with the sound needs of the municipality as a whole, for
the development of the district by private enterprise.
5. That the City of Golden Valley hereby determines that the method of tax
increment computation set forth in Section 273.76, Subd. 3 Clause (b), is not
applicable and therefore has not been elected by the City.
BE IT ALSO RESOLVED by the City Council of the City of Golden Valley that
the Medley Park Tax Increment Financing Plan is hereby approved.
Ro emarn, Mayor
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Resolution 82-21 - Continued March 16, 1982 255
The motion for the adoption of the foregoing resolution was seconded by Member
Mitchell and upon a vote being taken thereon, the following voted in favor
thereof: Anderson, Johnson, Mitchell, Stockman and Thorsen, and the following
voted against the same: none, whereupon said resolution was declared duly
passed and adopted, signed by the Mayor and her signature attested by the City
Clerk.
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