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HomeMy WebLinkAbout87-006CITY OF PRIOR LAKE RESCLUTION 87 -06 RESCLUTION MDDIFYING TAX INCRMW FINANCING DISTRICT NO. 1 -1 PLAN AND SETTING FOFaH FINDINGS WITH RESPECT THE FST0 MOTION BY FITZGERALD` SEODNDED BY SCOTT WHEREAS, the City Council of the City of Prior Lake ("Council") pursuant to a resolution adopted on -March 18, 1985, approved the formation of Tax Increment Financing District No. 1 -1 (nFadevelopment' District "), and in connection therewith, adopted a tax increment financing ( "Plan "); and WMREAS, the Council has determined that certain modifications to the Plan are neoessary and desirable and that certain findings must be made with respect thereto; and WHEFJW, the Council proposes the modifications pursuant to Minnesota Status Section 273.74 (4), the purpose of said modifications is to allow the City to acquire property in Municipal. Development District No. l and to allocate funds for said acquisition; and WHEREAS, the Board of Commissioners of Scott County, Minnesota, has been notified of the public hearing for the review of the proposed modifications; and WHEREAS, the School Board of Independent School District No. 719 has been notified of the public hearing for the review of the proposed modifications; and WHFRFAS, the council has received and considered the comments of the Board of Commissioners of Scott county and the School Board of the Independent School District NQ. 719 respecting the proposed modifications; and WHEREAS, the Council on February 9,l987, after having provided a notice of .public hearing in the official newspaper of `the municipality, conducted a public hearing on the proposed modification;, and received public comments on the same. NOW WREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PRIOR LAKE, MINNESM: 1. That the council reaffirms the following findings for the formation of a Redevelopment District and adoption of a tax increment financing pY'n in connection therewith: i (612) 447.4230 4629 DAKOTA STREET S.E. P.O. BbX 340 ' PRIOR LAKE, MINNESOTA 66372 n 0 i F CITY OF PRIOR LAKE RESCLUTION 87 -06 RESCLUTION MDDIFYING TAX INCRMW FINANCING DISTRICT NO. 1 -1 PLAN AND SETTING FOFaH FINDINGS WITH RESPECT THE FST0 MOTION BY FITZGERALD` SEODNDED BY SCOTT WHEREAS, the City Council of the City of Prior Lake ("Council") pursuant to a resolution adopted on -March 18, 1985, approved the formation of Tax Increment Financing District No. 1 -1 (nFadevelopment' District "), and in connection therewith, adopted a tax increment financing ( "Plan "); and WMREAS, the Council has determined that certain modifications to the Plan are neoessary and desirable and that certain findings must be made with respect thereto; and WHEFJW, the Council proposes the modifications pursuant to Minnesota Status Section 273.74 (4), the purpose of said modifications is to allow the City to acquire property in Municipal. Development District No. l and to allocate funds for said acquisition; and WHEREAS, the Board of Commissioners of Scott County, Minnesota, has been notified of the public hearing for the review of the proposed modifications; and WHEREAS, the School Board of Independent School District No. 719 has been notified of the public hearing for the review of the proposed modifications; and WHFRFAS, the council has received and considered the comments of the Board of Commissioners of Scott county and the School Board of the Independent School District NQ. 719 respecting the proposed modifications; and WHEREAS, the Council on February 9,l987, after having provided a notice of .public hearing in the official newspaper of `the municipality, conducted a public hearing on the proposed modification;, and received public comments on the same. NOW WREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PRIOR LAKE, MINNESM: 1. That the council reaffirms the following findings for the formation of a Redevelopment District and adoption of a tax increment financing pY'n in connection therewith: i (612) 447.4230 4629 DAKOTA STREET S.E. P.O. BbX 340 ' PRIOR LAKE, MINNESOTA 66372 n 0 A. That sax Incrasent District No. 1 -1 is a AedevelopmW District because ° it will result in increased business, es�tcnei* and housing opportunities, and it will preserve and enhance the tax base of� the municipality. B. That the proposed develop ont, in , �r the opinion of the City, not reMmm bly be expected to occur solely thro gh private irmstment -within the reasonably foreseeable future and therefore the use of tax inoremant f inancinO is deemed "necessary. C. That the tax increment firpming.plan will afford maxi mm opportunity, consistent with sound needs of the City as a whole, for the�drvelopaent of the Municipal Dsvelcvmnt District W. 1 by private enterprise. D. That it is hereby, found and datenained that the tax increment finning plan set forth in the Plan Booklet approved Mares 18' 1985, conforms to the general plan for the development -of the municipality as a whole!. 2. That in order to clarify, the-City ' a intentions to acquire land in Municipal k' Develos"Pt, District Np. 1 and to ooaWly with Minneso3;a 'Statutes Section 273.7e (1), Tax tncrw�re0 Finaming District No..1 -1 is herald modified as deWribed on ibit "A" attached hereto and made a part hereof. Emoept as mwdified on the attached Wibit A all other tarns and cond of the Pian shall remain in full, force and.effect. 3.. "mt the City Mepager, is hereby directem� to file a copy of this resolution With the Department c>f Jhergy and *aaic Development. Vii• Passed and adolt9d this __..� day of February ,, 1987. a }! t.i. . -' ]�& .D andren x wren Fitzgerald x Fitzgerald _ .Larson � z _ : Larson � Soon __ Soon white �._ Nhite µ 3 . © h liichmel A. 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