18-03 - 04-17 - Aceept Report determining qualification TIF HRA Resolution No. 18-03 April 17, 2018
Commissioner Harris introduced the following 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 Housing and Redevelopment Authority of the City of
Golden Valley, Minnesota (the "Authority"), as follows:
1. _Review of TIF / Redevelopment District Qualification Report. The Authority 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 Authority hereby
makes the following findings:
2.01. Based on the results of the TIF/Redevelopment Qualification Report, the
Authority 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.
HRA Resolution No. 18-03 -2- April 17, 2018
3. Expiration of Findings. The findings of the Authority 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.
Joanie Clausen, Chair
ATTE :
Timothy J. Cruikshank, Executive Director
The motion for the adoption of the foregoing resolution was seconded by Commissioner
Schmidgall, 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
Chair and the signature attested by the Executive Director.