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CITY OF PRIOR LAKE
RESOLUTION 83 12
11
MOTION BY Bll,SSE SECONDED BY SCOTT t�
A RESOLUTION OF THE CITY COUNCIL OF.THE CITY OF PRIOR LAKE APPROVING TAX
INCREMENT !'INANCING DISTRICT NO. 1 -1 AND THE USE OF TAX INCREMENT
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WHEREAS: the City Council of the City of Prior 'Lake thereinafter the Municipality)
purwon�n Diresolution t No adopted
I and, in connection therewith adopted n�C�l
D ww I
devek pwAnt program, and
IIEREAS: iq carry outs tax lncroment fi for a redevelopment M un ici pa li ty district pursuant
pursuant .
to ter 27S of Minnesota Statutes, encompassing snore
Chip t the area, which is
Mich described on: Exhibit A Rttached hereto and made a part hereof,
(which area.- is herein called Tax Increment District No. 1 -1 •Redavolopnent
r District or .District),,ond
� 4-111REASI the City' Council has., previewed Tax Increment Financing Dist
dated March 1,� `1!6! `(herein called the Plan booklet) which sets for th a tax
Increment financing" n for the District, and
Man booklet sets forth the Municipality's estimate of the fiscal and
<, econ+iwak
t , Mnpact of the tax increment financing district on the asaesasW
' i values of 411 taiilng jurisdictions in which the District is located, and the
Mu lclpality's' oa�lmate of the fiscal and economic implications of thF District,
1" 7 d J
N
REASt the Board M CeriMssioners of Scott County, Minnesota has been notified of
p
the Ik heari f oil the, review of the Plan !booklet, and
REASr lhne ScAeei beer! o! Independent School DI strict No. 71! h
it
s been notified of
the poke hearing !! the review of the Plan Booklet, and
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w, Ntl 44714230 N2lIDAK01 "A STREET SSE; P.O. BOX S5! PRIOR LAKE. MINNESOTA 66372
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WHEREAS: the. Municipality's Planning Commission has been consulted,' with concerning' the
formation of the District, and
WHEREAS: the Muncipality has received aqd considered the comments of the Board of
Commissioners of Scott County�j the Municipality's Planning Commission and
the School Board of the Independent School District No. 719 respecting the
contents of the Plan Booklet's and
WHEREAS: the Municipality on March 13, 1933, after having provided a notice of public
hearing in the official newspaper of the Municipality, conducted a public
hearing on the Plan Booklet a received public comments on the same. „
NOW THEREFORE BE IT RESOLVED: BY ItHE CITY COUNCIL OF THE CITY OF PRIOR
LAKE, MINNESOTA: j
1. "That it Is hereby found and deteiminsd that there is a new for the activities of
Municipal Development District No. 1 to Wi financed in part by the incremental tax revenues
hem Tax Increment Financi ng nistri ct No,WI -I.
241 That it is hereby found and d'e termined that the activities to „be financed by
incremental tax revenues from Tait increment Financing District No 1 -1 will carry out the
Muni De velopm en t �ebpment retaining
houmn opportunities and enhancing theme
anobjectives exp•nding )*bi tax base.
j ,
S That the provision for employt t and housittg apportunitles and the preservation
and enhancement of the tax base ;are' In the public interest of the Municipality WW, the
/ expenditures of Tax lncr"nt DistrictilNo. 1 -1 are_pubk purpose.
e: That the tax incre"'I"t financing plan as set fort in the Plan Booklet having been
duly reviewed and considered is hereby approved, and this area described in Exhibit A hereto
M hare6y designated as Redevelopment District 'pursuant to Section 273.72 110(&X1) of
r
Mlnttesota Statute$.
!. That Tax I nc r ement District No. 1 -1 is a Redevelopment District because it- will
result in Increased business, employment and housing opportunities, and it will preserve and
enhance the tax <,bose of the Municipality.
f. That the proposed devel opment, In the opinion of the City, would not: reasonably be
ettpacted to occur solely through private investtoent within the ressonably foreseeable
fa cure and therefore the use of tax 'incroment financing Is downed necessary.
7. not the tax Increment financing plan will afford maximum °opportunity, consistent
with NOW needs of the City as a whole, for the development of the District by private
�; en»rpriee. '
That It - is hereb found and determined that the tax increment financing plan set forth
In the Plan Booklet conforms to the general plan for to development of the Municipality as
a whole.
!� That 'the reasons and' supporting facts for findings 3, 6, 7 -a`rd g as set forth on
pages 2, S and M of the Plan Booklet are by this reference confirmed and adopted.
10. That the Cif Clerk is h ereby y directed to file a copy of this resolution and a copy
of the Plan Booklet with the Departmenvof Energy and Economic "Development.
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11. That Me City Clerk is hereby authorised and directed t request the Auditor of
Scott Count to cert the o value of the Dis
11 y •6 riot established by this
refolution.
That it is herebj" found and determined that no persons or businesses will be displacdd
' N 1Klecated 'a a result of the approval of and execution of the Tax Increment Firancl
Man set forth in the Plan booklet.
y , li hereby states its intention to use all of the captured asMSMd
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1! �j�rps
�s eenent financing as per the condition; set Borth M tttr Platt
AWIMS flat n x
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1►11,1Stb AND AOOM D TOMS _ da of Mar
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a >I . "MNSON _
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6 WIM X SCMEICM
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SCOTT
Ll iN X TNORKELSON
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