HomeMy WebLinkAbout06-131
EXTRACT OF MINUTES OF MEETING
OF THE CITY COUNCIL OF THE
CITY OF PRIOR LAKE, MINNESOTA
HELD: August 7,2006
Pursuant to due call and notice thereof, a meeting of the City Council of the City of Prior
Lake, Scott County, Minnesota, was duly called and held on Monday, the 7th day of August,
2006, at 6 o'clock p.m.
The following members were present: Haugen, Dornbush, Erickson, LeMair and Millar.
and the following were absent: None
Member Millar introduced the following resolution and moved its adoption:
RESOLUTION 06-131 APPROVING AN ADMINISTRATIVE AMENDMENT
TO THE TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT
FINANCING DISTRICT NO. 6-1 AND AUTHORIZING THE EXECUTION OF
A TAX INCREMENT ASSISTANCE AGREEMENT
A. WHEREAS, the City of Prior Lake, Minnesota (the "City") has heretofore
established Tax Increment Financing District No. 6-1 within Municipal Development District
No.6 and adopted a Tax Increment Financing Plan therefor; and there is a proposal to amend the
Tax Increment Financing Plan for Tax Increment Financing District No. 6-1 under the provisions
of Minnesota Statutes, Sections 469.174 to 469.1799 and Sections 469.124 to 469.134 (the
"Act"); and
B. WHEREAS, the City has prepared an amended Exhibit II - Source & Uses
Statement to the Tax Increment Financing Plan for Tax Increment Financing District No.6-I,
reflecting the amended budget, attached as Exhibit A hereto (the "Administrative Amendment");
and
C. WHEREAS, the City has performed all actions required by law to be performed
prior to the approval of the Administrative Amendment; and
D. WHEREAS, Shepherd's Path Senior Housing, Inc. (the "Developer") has
requested that the City assist with the financing of certain costs in connection with the
construction of a senior assisted living campus consisting of 16 single unit senior villas, an 8-unit
senior apartment complex and an 24-unit senior assisted living complex to be constructed by the
Developer in the City (the "Project").
E. WHEREAS, the Developer and the City have determined to enter into a Tax
Increment Assistance Agreement providing for the City's assistance for the Project (the
"Agreement").
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NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Prior Lake,
Minnesota, as follows:
1. The City fmds, determines and declares that with respect to the Administrative
Amendment:
(i) The City is not modifying the boundaries of Tax Increment Financing
District No. 6-1 nor increasing the budget in the Tax Increment Financing Plan therefor,
but is, however, making an administrative amendment thereto.
(ii) The City reaffirms the fmdings previously made with respect to Tax
Increment Financing District No.6-I.
(iii) The Administrative Amendment conforms to the general plan for the
development of the City as a whole.
(iv) The Act does not require a public hearing on the Administrative
Amendment.
2. The Administrative Amendment is hereby approved.
3. The City Manager is authorized and directed to file a copy of the Amendment
with the Commissioner of Revenue.
4. The City Council hereby approves the Agreement in substantially the form
submitted, and the Mayor and Manager are hereby authorized and directed to execute the
Agreement on behalf of the City.
5. The approval hereby given to the Agreement includes approval of such additional
details therein as may be necessary and appropriate and such modifications thereof, deletions
therefrom and additions thereto as may be necessary and appropriate and approved by the City
officials authorized by this resolution to execute the Agreement. The execution of the
Agreement by the appropriate officer or officers of the City shall be conclusive evidence of the
approval of the Agreement in accordance with the terms hereof.
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The motion for adoption of the foregoing resolution was dilly seconded by member
Dornbush and, after full discussion thereof, and upon a vote being taken thereof, the following
voted in favor thereof: Haugen, Dornbush, Erickson, LeMair and Millar.
and the following voted against same: None.
Adopted this 7th day of August, 2006.
W:~
Mayor
Attest:
Manager
VH
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STATE OF MINNESOTA
COUNTY OF SCOTT
CITY OF PRIOR LAKE
I, the undersigned, being the duly qualified and acting Manager of the City of Prior Lake,
Minnesota, DO HEREBY CERTIFY that I have carefully compared the attached and foregoing
extract of minutes with the original minutes of a meeting of the City Council of said City held on
the date therein indicated, which are on file and of record in my office, and the same is a full,
true and complete transcript therefrom insofar as the same relates to a Resolution Approving an
Administrative Amendment to the Tax Increment Financing Plan for Tax Increment Financing
District No. 6-1 and Authorizing the Execution of a Tax Increment Assistance Agreement.
WITNESS my hand as such Manager of the City Council of the City of Prior Lake,
Minnesota this ~day of August, 2006.
Manager ?J rf/
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