HomeMy WebLinkAbout90-03CENSUS '90
RESOLUTION 90-03 EDA
RESOLUTION OF THE PRIOR LAKE ECONOMIC DEVELOPMENT AUTHORITY
APPROVING TAX INCREMENT DISTRICT NO. 2-1 FINANCING PLAN
MOTIONED BY ARNOLD
SECONDED BY ANDREN
WHEREAS, the City Council of the City of Prior Lake, Minnesota
,, -- ,, . .
(the Cxty ), prev2ously establ2shed the Prior Lake
Economic Development Authority (the "Authority") which
has the powers contained in Minnesota Statutes, Section
469. 090 to 469. 108, the powers of a housing and
redevelopment authority under Minnesota Statutes,
Sections 469.001 to 469.047 or other law, and the powers
of a city under Minnesota Statutes, Sections 469.124 to
469.134 or other law; and
WHEREAS, it is desirable and in the public interest that the
Authority undertake and carry out the formation of Tax
Increment District No. 2-1 pursuant to Minnesota
Statutes, Sections 469.174 to 469.179, encompassing the
area which is more particularly described on Exhibit A
attached hereto and made a part hereof, (which area is
herein called "Tax Increment District No. 2-1" or the
"District"); and
WHEREAS, the Authority has reviewed "City of Prior Lake,
Minnesota, Economic Development Authority Tax Increment
Financing Plan for Tax Increment District No. 2-1, dated
February 20, 1990" (the "Plan"), which sets forth a tax
increment financing plan for the District; and
WHEREAS, the Board of Commissioners of Scott County, Minnesota
has been notified of the meeting for the review of the
Plan; and
WHEREAS, the School Board of Independent School District No. 719
has been notified of the meeting for the review of the
Plan; and
WHEREAS, the Authority has received and considered the comments
of the Board of Commissioners of Scott County and the
School Board of Independent School District No. 719
respecting the contents of the Plan; and
WHEREAS, pursuant to Minnesota Statutes, Section 469. 175, Subd.
3, the Authority after determination that the Districts
should be undertaken shall apply to the City for
approval of said Plan.
4629 Dakota St. S.E., Prior Lake, Minnesota 55372 / Ph. (612) 447-4230 / Fax (612) 447-4245
NOW THEREFORE BE IT RESOLVED by the Prior Lake Economic
Development Authority, as follows:
Section 1.
That the area described in the Plan for District
No. 2-1 is a soils condition district within the
meanings of Minnesota Statutes, Section 469.174,
Subd. 19.
Section 2.
That said Plan and Districts will carry out the
purpose and policy of the Municipal Housing and
Redevelopment Act and the Tax Increment Financing
Act as set forth in Minnesota Statutes, Sections
469.001 to 469.047 and 469.174 to 469.179,
respectively.
Section 3.
That said Plan in all respects is approved and the
secretary is hereby directed to file said Plan with
the minutes of this meeting.
Section 4.
Section 5.
That application is hereby made to the City Council
of the City of Prior Lake for approval of said Plan
and the staff of the Authority is directed to
transmit a copy of the Plan along with a copy of
this resolution to the City Council.
That the City Council was previously requested to
hold a public hearing on the Plan after giving
published notice of the date, time, place and
purpose of such hearing in a newspaper of general
circulation in Prior Lake, such notice to be
published at least ten days and no more than thirty
days prior to the date of the hearing.
Section 6.
The City Council is hereby requested to approve
said Plan and Districts and to find by resolution
that: (A) the proposed District No. 2-1 is a soils
condition district; (B) that the proposed
development or redevelopment, in the opinion of the
city, would not reasonable be expected to occur
solely through private investment within the
reasonably foreseeable future and therefore the use
of tax increment financing is deemed necessary; (C)
the Plan conforms to the general plan for the
development or redevelopment of the city as a
whole; (D) the Plan will afford maximum
o~portunity, consistent with the sound needs of the
city as a whole, for the development or
redevelopment of the Project by private
enterprise.
Section 7.
That the staff of the Authority is directed to
transmit to the State of Minnesota Department of
Trade and Economic Development a copy of the Plan
as required by Minnesota Statutes, Section 469.175,
Subd. 5.
Section 7.
That the staff of the Authority is directed to
transmit to the State of Minnesota Department of
Trade and Economic Development a copy of the Plan
as re~ired by Minnesota Statutes, Section 469.175,
Subd. 5.
Gene 'Mite
President
Adopted this 20th day of February, 1990
EST:
D~;id J. ~3nmach~
Secretary
EXHIBIT "A"
TO
PRIOR LAKE ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION NO. 90-03
The following parcels are to be included in District No. 2-1
Parcel # - 25-177-002-0
Parcel # - 25-177-003-0