HomeMy WebLinkAboutResolution - HRA 2020-05 - Trail Pointe Ridge - 12/01/2020HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF EDEN PRAIRIE
HENNEPIN COUNTY, MINNESOTA
H.R.A. RESOLUTION NO. 2020-05
RESOLUTION ADOPTING A MODIFICATION TO THE TAX
INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING
DISTRICT NO. 23 -TRAIL POINTE RIDGE
BE IT RESOLVED by the Board of Commissioners (the "Board") of the Housing and
Redevelopment Authority in and for the City of Eden Prairie (the "HRA") as follows:
Section 1. Recitals.
1.01. The Board of Commissioners of the Housing and Redevelopment Authority in and
for the City of Eden Prairie (the "HRA") heretofore established Tax Increment Financing District
No. 23: Trail Pointe Ridge ("TIF District No. 23") and adopted the Tax Increment Financing Plan
therefor on April 2, 2019.
1.02. The HRA proposes to modify the Tax Increment Financing Plan (the
"Modification") for TIF District No. 23, located within Redevelopment Project Area No. 5, all
pursuant to and in accordance with applicable law, including Minnesota Statutes, Sections 469.001
to 469.047 and Sections 469.174 to 469.1794, all inclusive, as amended. Generally, the substantive
modification to the Tax Increment Financing Plan for TIF District No. 23 is the removal of parcels
from the district.
1.03. The properties identified in Exhibit A, by property identification numbers, were
included in the TIF District; and the HRA desires by this resolution to amend the TIF Plan to
remove the described parcels in Exhibit A from the TIF District, thereby reducing the size thereof.
The total current net tax capacity of the parcels to be eliminated from TIF District No. 23 equals
or exceeds the original net tax capacity and, therefore this amendment to the TIF Plan is
accomplished pursuant to Minnesota Statutes, Section 469.175, Subdivision 4, clause (e)(2)(A).
1.04. The HRA has investigated the facts and has caused the Modification to be prepared.
1.05. The HR.A has performed all actions required by law to be performed prior to the
adoption of the Modification.
1.06 The reasons and facts supporting the findings in this resolution are described in the
TIF Plan Modification.
Section 2. Findings for the Modification.
2.01. The HRA hereby finds that the Modification is intended and, in the judgment of
this HRA, the effect of such actions will be, to provide an impetus for development in the public
purpose and accomplish certain objectives as specified in the Modification, which is hereby
incorporated herein.
2.02 The HRA reaffirms the findings previously made with respect to TIF District No.
23.
2.03 The Modification is not one of the modifications listed in Minn. Stat. § 469.175,
subdivision 4(b) and therefore does not require the notice, discussion, public hearing, and findings
required for approval of the original plan.
2.04. The Modification conforms in all respects to the requirements of the Acts and will
help fulfill a need to develop an area of the City which is already built up, to provide housing
opportunities, to improve the tax base and to improve the general economy of the State and thereby
serves a public purpose. The City believes these benefits directly derive from the tax increment
assistance provided under the TIF Plan. A private developer will receive only the assistance
needed to make this development financially feasible. As such, any private benefits received by a
developer are incidental and do not outweigh the primary public benefits.
Section 3. Approval of the Modification; Filing.
3.01. The Modification to the TIF Plan for TIF District No. 23 is hereby approved and
shall be placed on file in the office of the Executive Director. Approval of the Modification does
not constitute approval of any project or a Development Agreement with any developer.
3.02. The staff of the HRA are authorized to file the Modification with the State
Department of Revenue and the Hennepin County Auditor.
3.03. The staff of the City, the City's advisors and legal counsel are authorized and
directed to proceed with the implementation of the Modification and for this purpose to negotiate,
draft, prepare and present to this Council for its consideration all further plans, resolutions,
documents and contracts necessary for this purpose.
ADOPTED by the HRA in and for the City of Eden Prairie this 1st day of December, 2020.
Ronald A. Case,'Chairperson
SEAL
ATTEST:~
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Rick Getschow, Executive Director
EXHIBIT A
17-116-22-14-0097
17-116-22-14-0098
17-116-22-14-0099
17-116-22-14-0100
17-116-22-14-0101