HomeMy WebLinkAbout22-116 TIF 1-6 Call for Public Hearing
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 22-116
A RESOLUTION CALLING FOR A PUBLIC HEARING ON THE PROPOSED
ENLARGEMENT OF MUNICIPAL DEVELOPMENT DISTRICT NO. 1 AND THE
PROPOSED ADOPTION OF A MODIFICATION TO THE DEVELOPMENT PROGRAM
RELATED THERETO, AND THE PROPOSED ESTABLISHMENT OF TAX
INCREMENT FINANCING DISTRICT NO. 1-6 (PRIOR LAKE LOFTS) WITHIN
MUNICIPAL DEVELOPMENT DISTRICT NO. 1 AND THE PROPOSED ADOPTION OF
A TAX INCREMENT FINANCING PLAN RELATING THERETO
Motion By: Thompson Second By: Braid
WHEREAS, the City of Prior Lake received a request from Prior Lake B Squared Ventures,
LLC for Redevelopment Tax Increment Financing to assist with a mixed-use
redevelopment project at 4662, 4664, and 4666 Dakota Street SE; and
WHEREAS, the City Council considered the request to call for a public hearing related to the
Redevelopment Tax Increment Financing request on September 19, 2022.
NOW THEREFORE, BE IT RESOLVED by the City Council (the "Council") of the City of Prior
Lake, Minnesota (the "City"), as follows:
1. Public Hearing. This Council shall meet on November 7, 2022, at approximately
7:00 p.m., to hold a public hearing on the following matters: (a) the proposed enlargement of
Municipal Development District No. 1, (b) the proposed adoption of a modification to the
Development Program for Municipal Development District No. 1, (c) the proposed establishment
of Tax Increment Financing District No. 1-6 (Prior Lake Lofts), a redevelopment district, within
Municipal Development District No. 1, and (d) the proposed adoption of a Tax Increment
Financing Plan relating thereto, all pursuant to and in accordance with Minnesota Statutes,
Sections 469.124 through 469.133, both inclusive, as amended, and Minnesota Statutes,
Sections 469.174 through 469.1794, both inclusive, as amended (collectively, the "Act").
2. Notice of Hearing; Filing of Tax Increment Financing Plan. The City Manager is
hereby authorized to cause a notice of the hearing, substantially in the form attached hereto as
Exhibit A, to be published as required by the Act and to place a copy of the proposed modification
to the Development Program and the proposed Tax Increment Financing Plan on file in the
Community Development Director's Office at City Hall and to make such copies available for
inspection by the public.
3. Consultation with Other Taxing Jurisdictions. The City Manager is hereby directed
to mail a notice of the public hearing and a copy of the proposed modification to the Development
Program and the proposed Tax Increment Financing Plan to Scott County and Independent
School District No. 719, informing those taxing jurisdictions of the estimated fiscal and economic
impact of the establishment of the proposed tax increment financing district.
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Passed and adopted by the Prior Lake City Council this 19th day of September 2022.
VOTE Briggs Thompson Burkart Braid Churchill
Aye ☒ ☒ ☒ ☒ ☒
Nay ☐ ☐ ☐ ☐ ☐
Abstain ☐ ☐ ☐ ☐ ☐
Absent ☐ ☐ ☐ ☐ ☐
______________________________
Jason Wedel, City Manager
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Exhibit A
CITY OF PRIOR LAKE
COUNTY OF SCOTT
STATE OF MINNESOTA
NOTICE OF PUBLIC HEARING
NOTICE IS HEREBY GIVEN that the City Council (the "Council") of the City of Prior Lake,
Scott County, Minnesota, will hold a public hearing on Monday, November 7, 2022, at 7:00 p.m.,
in the City Council Chambers at City Hall, 4646 Dakota St. SE, Prior Lake, Minnesota, relating to
the proposed enlargement of Municipal Development District No. 1 and the adoption of a
modification to the Development Program related thereto, and the proposed establishment of Tax
Increment Financing District No. 1-6 (Prior Lake Lofts) within Municipal Development District No.
1, and the proposed adoption of a Tax Increment Financing Plan therefor, all pursuant to and in
accordance with Minnesota Statutes, Sections 469.124 through 469.133 and Sections 469.174
through 469.1794, inclusive, as amended. Copies of the Development Program, as modified, and
the proposed Tax Increment Financing Plan are on file and available for public inspection at the
office of the Community Development Director at City Hall.
The property proposed to be included in Tax Increment Financing District No. 1-6 (Prior
Lake Lofts) is described in the Tax Increment Financing Plan on file in the office of the Community
Development Director. Subject to certain limitations, tax increment from Tax Increment Financing
District No. 1-6 (Prior Lake Lofts) may be spent on eligible uses within the boundaries of Municipal
Development District No. 1.
A map of Municipal Development District No. 1, as enlarged, and Tax Increment Financing
District No. 1-6 (Prior Lake Lofts) is set forth below:
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All interested persons may appear at the hearing and present their views orally or in writing
prior to the hearing.
Dated: September 19, 2022. BY ORDER OF THE CITY COUNCIL
/s/ Jason Wedel, City Manager