98-100 - 12-01 Approve Golden Hills Redevleopment AreaMember LeSuer introduced the following resolution and moved its adoption:
THE CITY OF GOLDEN VALLEY, MINNESOTA
RESOLUTION NO.98_ 100
RESOLUTION APPROVING AMENDMENT OF REDEVELOPMENT
PLAN FOR THE GOLDEN HILLS REDEVELOPMENT AREA AND
AMENDMENT OF TAX INCREMENT FINANCING PLAN FOR THE
GOLDEN HILLS TAX INCREMENT FINANCING DISTRICT
LOCATED WITHIN THE GOLDEN HILLS REDEVELOPMENT
AREA
WHEREAS, the Housing and Redevelopment Authority (the "HRA") of the City of Golden
Valley, Minnesota (the "City") has heretofore designated a specific portion of the City as the Golden
Hills Redevelopment Area (the "Project Area") and has caused to be prepared and heretofore
approved by the City a Redevelopment Plan (the "Redevelopment Plan") relating thereto, pursuant
to Minnesota Statutes, Sections 469.001 through 469.047, inclusive; and
WHEREAS, the HRA now proposes to expand the boundaries of the Project Area (as
expanded, the "Expanded Project Area") and undertake certain additional redevelopment activities
within the Expanded Project Area and has caused to be prepared (i) pursuant to Minnesota Statutes,
Sections 469.001 through 469.047, inclusive, an Amended Redevelopment Plan for the Expanded
Project Area (the "Amended Redevelopment Plan") updating the status of the redevelopment
activities undertaken and proposed to be undertaken within the Expanded Project Area and (ii)
pursuant to Minnesota Statutes, Section 469.174 to 469.179, inclusive, an Amended Tax Increment
Financing Plan (the "Amended TIF Plan") for the Golden Hills Tax Increment Financing District (the
"TIF District") updating the information required by law to be included in a tax increment financing
plan including, without limitation, the budget for financing the increased redevelopment activities
within the Expanded Project Area; and
WHEREAS, the HRA has approved the Amended Redevelopment Plan and Amended TIF
Plan and has requested that the City hold a hearing on the adoption of said Plans; and
WHEREAS, the Amended Redevelopment Plan and the Amended TIF Plan have been
submitted to the City's Planning Commission for consideration and comparison to the
comprehensive plan of the City to determine consistency; and
WHEREAS, the City has provided an opportunity for the members of the County Board of
Commissioners of Hennepin County and the members of the school board of the school district in
which the TIF District is located to meet with the City; and
WHEREAS, the City has presented to the members of the County Board of Commissioners
of Hennepin County and members of the school board of the school district in which the TIF District
is located the City's estimate of the fiscal and economic implications of the modification of the TIF
District and has provided an opportunity to said public bodies to present their comments at the public
hearing held on the date hereof; and
WHEREAS, the City Council on the date hereof held a public hearing regarding approval
of the Amended Redevelopment Plan and Amended TIF Plan, for which public hearing a notice was
published in a newspaper of general circulation in the City not less than 10 nor more than 30 days
prior to the date hereof, with appropriate maps; and
WHEREAS, the City has performed all actions required by law to be performed in
connection with the foregoing.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
GOLDEN VALLEY, MINNESOTA, as follows:
1. The Amended Redevelopment Plan for the Golden Hills Redevelopment Area is
hereby approved and is adopted substantially in the form on file with the City as of this date.
Pursuant to said approval and adoption, the boundaries of the original Project Area are expanded to
include the Xenia Avenue Extension Area as set forth in the Amended Redevelopment Plan. The
reasons supporting the approval and adoption are set forth in the Amended Redevelopment Plan,
under the heading "Findings in Support of Redevelopment," which are hereby incorporated by
reference.
2. With respect to the approval of the Amended TIF Plan, on the basis of the information
presented to the Council at meetings regarding approval of the Amended TIF Plan, information
included in the Amended TIF Plan, information provided at the public hearing and at other Council
meetings, the Council hereby finds and determines:
(a) At the time of creation of the TIF District the City determined that the
TIF District is a redevelopment tax increment financing district for the reasons and based on
the findings included in the TIF Plan as originally approved and in the resolution adopted by
the City Council upon the original establishment of the TIF District. Said determination is
confirmed.
(b) The additional development proposed to be assisted as described in the Amended
TIF Plan would not, in the opinion of the City, reasonably be expected to occur within the
reasonably foreseeable future through private investment and therefore the use of tax
increment financing is deemed necessary. The additional development includes (i) the
provision of improved north/south access through the Expanded Project Area, requiring
substantial public investment to acquire necessary right-of-way and design and build needed
infrastructure improvements and (ii) additional land acquisition and site improvements
within the original Project Area in order to assemble appropriate sites for continued
redevelopment activities.
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(c) The Amended TIF Plan conforms to the general plan for the development of the
City as a whole as determined by the City Planning Commission as evidenced by the
approval of the Planning Commission.
(d) The Amended Redevelopment Plan and Amended TIF Plan will afford maximum
opportunity, consistent with the sound needs of the City as a whole, for the development of
the Expanded Project Area by private enterprise since the Amended TIF Plan proposes only
limited assistance to private developers and the primary cost of development will be borne
by private enterprise. Completed redevelopment activities to date demonstrate the success
of the City in attracting substantial private development and investment through the judicious
use of tax increment assistance.
Additional supporting facts for the foregoing findings are included in the Amended TIF Plan which
are incorporated herein by reference.
3. The Amended TIF Plan is hereby approved substantially in the form on file with the
City as of this date.
4. The City Manager, Finance Director and other city staff are authorized and directed to
take all action on behalf of the City, subject to such approval of this Council as is required by law,
to implement the Amended Redevelopment Plan and Amended TIF Plan.
5. The City Manager is hereby authorized and directed to file a copy of the Amended
Redevelopment Plan and Amended TIF Pian with the Minnesota Commissioner of Revenue.
Adopted this 1 s t day of December, 1998.
U-6186129
City Clerk
(SEAL)
Mayor
The motion for the adoption of the foreging resolution was seconded by Member
Johnson and upon a vote being taken thereon, the following voted in favor thereof:
Anderson, Bakken, Johnson and LeSuer; and the following voted against the same:
Micks, whereupon said resolution was declared duly passed and adopted, signed by
the Mayor and her signature attested by the City Clerk,