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HomeMy WebLinkAbout96-99 RESOLUTION 96-99 A RESOLUTION AMENDING RESOLUTION 89-17 WHICH ESTABLISHED THE PRIOR LAKE ECONOMIC DEVELOPMENT AUTHORITY PURSUANT TO THE PROVISIONS OF MINNESOTA STATUTES, CHAPTER 469 WHEREAS, the Minnesota State Legislature has enacted Minnesota Statutes, Sections 469.090 to 469.108 authorizing any statutory or home rule charter city to establish an economic development authority having the powers contained in the enabling act and a housing and redevelopment authority established under Minnesota Statutes, Sections 469.001 to 469.047 or other law, and a city under Minnesota Statutes, Sections 469.124 to 469.134 or other law, and WHEREAS, the City wishes to establish such an economic development authority and to define the relationship between it an the Council and Mayor by adoption of this resolution, and WHEREAS, it is intended that this resolution be amended from time to time as may be required to further define or redefine the respective roles of the economic development authority and the Council and Mayor regarding development and redevelopment within the city, and WHEREAS, it is intended that this resolution and actions taken hereunder, the Council and Mayor of the city shall establish broad policies for public assisted development within the city and that the implementation of such policies be the responsibility of the economic development authority, and WHEREAS, it is the desire of the Council and Mayor that adoption of this resolution and the creation of an economic development authority will result in a conscientious and coordinated effort to encourage and precipitate future development within the city so as to increase tax base, promote employment and enhance the health, safety and welfare of city residents NOW, THEREFORE BE IT RESOLVED by the City Council of the City of Prior Lake: 16200 ~~e. S.E., Prior Lake, Minnesota 55372-1714 / Ph. (612) 447-4230 / Fax (612) 447-4245 AN EQUAL OPPORTUNITY EMPLOYER SECTION 1. Establishment. There is hereby created in the City an economic development authority which, subject to the provisions of this Enabling Resolution, shall have all of the powers, duties and responsibilities of any economic development authority created pursuant to the Act, or other law, a housing and redevelopment authority created pursuant to the Housing Act, or other law and which shall constitute an "Agency" pursuant to the Development act It shall be the role and responsibility of such economic development authority to carry out economic, housing and industrial development and redevelopment within the city in accordance with such general policies as may from time to time be established by the Council and Mayor. SECTION 2. Definitions: A. "Authority" means the Prior Lake Economic Development Authority. B. "City" means the City of Prior Lake, Minnesota. C. "Council" means the duly elected governing body of the City. D. "Enabling Act" means Minnesota Statutes, Sections 469.090 to 469.108, authorizing the City of Prior Lake to create an economic development authority. E. "Enabling Resolution" means this resolution of the Council establishing the Prior Lake Economic Development Authority pursuant to the Enabling Act. F. "The Development Act" means the City Development Districts Act, Minnesota Statutes, Sections 469.124 to 469.134. G. "Federal Limitation Act" means certain acts of Congress which limit the aggregate amount of obligations of a specified type which may be issued within the City, as further defined in Section 474.16, Subdivision 5 of the Industrial Bond Act and as may from time to time be defined in other state laws. H. "The Housing Act" means Municipal Housing and Redevelopment Authorities Act, Minnesota Statutes, Sections 469.001 to 469.047. I. "The Housing Bond Act" means the Municipal Housing Program Act, Minnesota Statutes, Chapter 462C. J. "Industrial Bond Act" means the Municipal Industrial Development Act, Minnesota Statutes, Sections 469.152 to 469.165. K. "Project Area Plan" means an outline for the development or redevelopment of a geographic area of Authority concentration which contains a statement of objectives for improvement of the area as well as a description of public facilities R9699.DOC 2 to be constructed, and estimated schedule of the open space to be created, the environmental controls to be applied, the property to be publicly acquired and the condition under which the Authority shall exercise the right of eminent domain, if any, the proposed reuse of private property and the general standards of development. Said plan shall be sufficiently complete to constitute a "development program" pursuant to Section 469.125, Subdivision 3 of the Development Act and a "redevelopment plan" pursuant to Section 469.002, Subdivision 16 of the Housing Act. L. "Project Budget" means a financial budget containing the sources and uses of public funds to be expended in carrying out the public costs associated with a Project Plan or Project Area Plan. In the event any or all such public costs are to be paid with tax increment, the Project Budget shall constitute a "tax increment financing plan" as described in Section 469.175 of the Tax Increment Act. M. "Project Plan" means a description of the development or redevelopment of property, including an estimated schedule, the property to be publicly acquired and the condition under which the Authority will exercise its right of eminent domain, if any, description of the public facilities to be constructed, and the proposed reuse of private property. N. "Tax Increment Act" means Tax Increment Financing, Minnesota Statutes, Sections 469.174 to 469.179. SECTION 3. Legal Status. The Authority shall be a public body politic and corporate and a political subdivision of the State of Minnesota. It shall not be considered a department of the City nor shall the City be liable for its obligations, unless assumed by the City in writing. Its relationship to the Council and Mayor shall be governed by the Enabling Act, this Enabling Resolution and the various statutes under which it operates, including the Enabling act, the Housing Act, the Development Act, the Industrial Bond Act, the Housing Bond Act and the Tax Increment Act; provided, that in the event there is a conflict between the terms of this Enabling Resolution and any such statute, the statute shall control, in the event there is a conflict between the Enabling Act and any such statutes, the Enabling Act shall control; provided further, that a statute granting authority shall not be deemed to be in conflict with a statute that grants less or no such authority. SECTION 4. Name. The Economic Development Authority created by the Enabling Act and this Enabling Resolution shall be known legally as the Prior Lake Economic Development Authority. SECTION 5. Governing Body. The powers of the Authority shall be vested in the commissioners thereof in office at any time, a majority of whom shall constitute a quorum for all purposes: R9699.DOC 3 A. Membership of the Authority shall consist of five commissioners. Two commissioners shall be City Council members. Three commissioners shall be residents of the City with business expertise. All five members shall be appointed by the Mayor and confirmed by majority vote of the City Council in accordance with Minnesota Statutes. B. Upon adoption of this resolution the terms of all current commissioners of the Economic Development Authority are hereby terminated and appointments to the Economic Development Authority shall be as set forth below. C. Following adoption of this enabling resolution, the Mayor shall appoint subject to confirmation by the City Council two members of the Council who will serve as EDA commissioners. The three remaining appointments shall be of business persons living in Prior Lake and shall be made by the Mayor and are subject to confirmation by the City Council. The initial terms of office will be 2 years, 3 years, 4 years, 5 years, and 6 years respectively. Thereafter, all commissioners shall serve six year terms. In the event that a commissioner's term as Councilmember expires, the mayor shall appoint another Councilmember to serve the unexpired portion of the commissioner's term. SECTION 6. Authority Officers. The commissioners of the Authority shall elect officers as provided in Section 469.096 of the Enabling Act. SECTION 7. Authority Staff. A. The Authority shall be empowered to hire such employees, agents and consultants as deemed proper and as further provided by Resolution 89-17 , this Resolution and applicable State Statutes. Such employees, agents and consultants shall assist the Authority in performing the following powers and duties: 1. To see that all resolutions, rules, bylaws, regulations, or orders of the Authority are enforced. 2. To appoint and remove upon the basis of merit and fitness, all subordinate officers and regular employees of the Authority. 3. To present to the Authority plans, studies and reports prepared for Authority purposes and recommend to the commissioners for adoption such measures as deemed necessary to enforce or carry out the powers and duties of the Authority or the efficient administration of the affairs of the Authority. 4. To recommend for adoption such rules and regulations as deemed necessary for the efficient operation of the Authority's functions. R9699.DOC 4 5. To perform such other duties as may be prescribed by the Authority. SECTION 8. Reports. A. At least once annually by March 1, the Authority shall appear at a regularly scheduled City Council meeting and publicly report regarding the operational status of the Authority. Such report shall comply with Minnesota Statutes Section 469.100, Subdivision 4, and describe current and proposed projects as well as describe general development goals for the City. B. The Authority shall be responsible for all filings and reports required by the various statutes under which it operates. Copies of all such reports shall be provided to the City Council and Mayor and shall be available to members of the public unless protected by the Minnesota Data Practices Act. SECTION 9. Account, Budget and Fiscal Year. A. The accounting, maintenance of books and records, establishment and maintenance of funds and accounts, investment of cash surpluses, disbursement of moneys and other necessary financial matters of the Authority shall be the responsibility of the Commission Treasurer. The Authority accounting, investment, fund maintenance and disbursement shall be consistent with City procedures. B. On or before September 1 of each year the Authority shall submit its annual budget to the City Manager in a form prescribed by the City Manager. Such budget shall include a detailed written estimate of the amount of money that the Authority expects to need from the City for Authority business during the next fiscal year and shall otherwise comply with Minnesota Statute Section 469.100, Subdivision 1. The Council may impose such conditions upon the issuance of obligations by the City for the purpose of funding said Authority budget as it may determine. The City Council shall review and consider approval of the proposed authority budget as a part of the City budgetary process. A member of the Authority shall appear before the City Council as requested to explain and discuss the content of the proposed Authority budget. Upon approval of such budget, the Authority shall not exceed total budgeted expenditures without approval of corresponding budget amendments by the City Council; provided, however, that this provision shall not preclude the Authority from unilaterally making line-item changes as it deems appropriate. C. The fiscal year of the Authority shall be the same as that of the City of Prior Lake. SECTION 10. Powers. R9699.DOC 5 A. The Authority may exercise all of the powers contained in the Enabling Act. B. The Authority may exercise all of the powers contained in the Housing Act. C. The Authority may exercise all of the powers of an Agency contained in the Development Act. D. The Authority may exercise all of the powers of a redevelopment agency contained in the Industrial Bond Act. E. The Authority may exercise all of the powers of a City contained in the Housing Finance Act, provided authorized to do so by ordinance of the City Council pursuant to Section 462C.02, Subdivision 6 of the Housing Financing Act. F. The Authority may exercise all of the powers of an Authority contained in the Tax Increment Act. G. The Authority may exercise such powers as may be contained in other laws applicable to economic development authorities or housing and redevelopment authorities not specifically described herein. SECTION 11. Limit of Powers. A. The sale of all bonds issued by the Authority must be approved by the City Council before issuance. B. The ability of the Authority to participate as a limited partner in a development project must have prior approval by the City Council. C. All official actions of the Authority must be consistent with the adopted Comprehensive Plan of the City, and any official controls implementing the Comprehensive Plan. D. The Authority must submit a comprehensive description of its administrative structure, management practices, and bylaws to the City Council for approval. Adopted by the Prior Lake City Council this 01/ 1996. day of IJt!/nbOf' ATTEST: City Manager Mayor R9699.DOC 6 .--....., -'--'-~'""",----"~~--",,,,~---,-