18-31 - 05-01 - Accept Report Determinig TIF District Resolution No. 18-31 May 1, 2018
Member Clausen introduced the following resolution and moved its adoption:
RESOLUTION ACCEPTING THE REPORT OF INSPECTION PROCEDURE
AND RESULTS FOR DETERMINING QUALIFICATION OF A TAX INCREMENT
FINANCING DISTRICT AS A REDEVELOPMENT DISTRICT
BE IT RESOLVED by the City Council of the City of Golden Valley, Minnesota (the
"City"), as follows:
1. Review of TIF / Redevelopment District Qualification Report. The City has
reviewed the Report of Inspection Procedures and Results for Determining Qualifications of
a Tax Increment Financing District (TIF) District as a Redevelopment District dated
September 27, 2017, and identified as Stantec Project No. 193804541 (the "TIF/
Redevelopment Qualification Report") for a Tax Increment Financing Redevelopment
District proposed to be established (the "Tennant Redevelopment District"), which report is
attached as Exhibit A. The properties to be included in the Tennant Redevelopment District
are either owned or to-be-owned by Tennant Company.
2. Findings for Approval of Tennant Redevelopment District. The City hereby makes
the following findings:
2.01. Based on the results of the TIF/Redevelopment Qualification Report, the
City finds that the properties proposed to be included in the Tennant Redevelopment
District meet the qualifications under Minnesota Statutes, Section 469,174, Subdivision
10(a).
2.02 The proposed Tennant Redevelopment District meets the "coverage test"
under Minnesota Statutes, Section 469.175, Subdivision 10(e), as the parcels comprising
the proposed Tennant Redevelopment District are 100% occupied by buildings, streets,
utilities, paved drives or parking lots.
2.03 The buildings located on the parcels included in the proposed Tennant
Redevelopment District can be considered structurally substandard. 100% of the
buildings/structures located in the proposed Tennant Redevelopment District contain code
deficiencies exceeding the 15% threshold required under Minnesota Statues, Section
469.174, Subdivision 10(c).
2.04 100% of the buildings/structures located in the Tennant Redevelopment
District are structurally substandard and would require substantial renovation due to
significant structural defects or deficiencies in essential utilities, light, ventilation, fire
protection, egress and other factors.
2.05 The conditions described above are reasonably distributed throughout the
proposed Tennant Redevelopment District.
2.06 The proposed Tennant Redevelopment District qualifies for establishment
as a Redevelopment District pursuant to Minnesota Statutes, Section 469.174, Subdivision
10.
Resolution No. 18-31 -2- May 1, 2018
3. Development Agreement Required for Demolition. In the event Tennant
Company proposes to demolish or remove any of the buildings/structures located in the
proposed Tennant Redevelopment District, Tennant shall first enter into a development
agreement with the City and the City's Housing and Redevelopment Authority (the
"Authority") pursuant to Minnesota Statutes, Section 469.174, Subdivision 10.
4. Expiration of Findings. The findings set forth in Section 2 above shall expire on
the date that is three (3) years from the date on which the Authority confirms that any
substandard building or improvements located within the Tennant Redevelopment District
and requiring demolition have been adequately demolished or removed by Tennant
Company or the owner of such substandard building or improvements.
Shep rd M. Harris,fMayor
ATTEST:
111--z
Kristine A. Luedke, City Clerk
The motion for the adoption of the foregoing resolution was seconded by Member
Rosenquist and upon a vote being taken thereon, the following voted in favor thereof:
Clausen, Fonnest, Harris, Rosenquist and Schmidgall and the following voted against the
same: none, whereupon said resolution was declared duly passed and adopted, signed by
the Mayor and his signature attested by the City Clerk.