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Home My WebLink AboutResolution - 90-65 - Relating to Development District No. 1 & Tax Increment Financing District Nos. 2-7, Calling a Public Hearing on the Adoption of Amendments and Tax Plans - 03/13/1990 , a After some discussion, Councilmember V introduced the following resolution and moved its adoption: RESOLUTION NO. S RESOLUTION RELATING TO DEVELOPMENT DISTRICT NO. 1 AND TAX .INCREMENT FINANCING DISTRICTS NOS . 2, 3, 4, 5, 6 AND 7; CALLING A PUBLIC HEARING ON THE ADOPTION OF AMENDMENTS TO THE DEVELOPMENT PROGRAM AND TAX INCREMENT FINANCING PLANS THEREFOR } BE IT RESOLVED by the City Council of the City of Eden Prairie, Minnesota (the "City") , as follows: Section 1. Recitals . 1.01. On September 22, 1981, this Council designated under Minnesota Statutes, Sections 469 .124 to 469.134, as amended, certain land within the City as Development District No. 1 (the "Development District") and adopted a Development Program therefor. The Development Program was subsequently amended by this Council on March 30, 1982 and May 17, 1983 (as so amended, the "Original Program") . Pursuant to the Minnesota Tax Increment Financing Act, Minnesota Statutes, Sections 469.174 to 469.179, as amended (the "Act") , this Council has established Tax Increment Financing Districts Nos. 2, 3, 4, 5, 6 and 7 (collectively, the "Districts") within the Development District and has adopted and in some cases amended Tax Increment Financing Plans therefor (as originally adopted or, if amended, as so amended, the "Original Plans") on the dates indicated below: Date of Adoption Date of District No. or Amendment District No. Adoption 2 3/20/82; amended 5 5/17/83 5/17/83 3 11/16/82; amended 6 8/16/83 5/17/83 4 3/15/83; amended 7 4/17/84 5/17/83 1.02 . It has been proposed that the City further amend the Development Program in order to undertake additional development activities comprising certain road, utility and park improvements and to amend the Original Plans to provide a means of financing the capital and administrative costs to be incurred by the City in undertaking such additional development activities. A draft of the proposed amendment of the Development Program and of the proposed amendment of the Original Plans (collectively, the "1990 Amendment") has been prepared by the staff of the City and I „ I is hereby ordered placed on file in the office of the Finance Director/Clerk. Section 2 . Notice and Public Hearina. 4 2 .01. Pursuant to Minnesota Statutes, Sections 469.126 and 469.175, the adoption of the 1990 Amendment may be considered by this Council after it conducts a public hearing thereon and after certain information is provided to the planning agency of the City and the governing, bodies of Hennepin County, Independent School District No. 272 and Independent School District No. 287 . 2 .02 . In order to consider adoption of the 1990 Amendment, a public hearing thereon to be conducted by this Council is hereby called and shall be held on April 17, 1990, at 7 :3 0 p.m. in the 6 v u►1/e J L at the C° c r'f /,/4 4 L. The Finance Director/Clerk is hereby authorized and directed to . cause notice of the public hearing to be duly published as required by law in the Eden Prairie News, the official newspaper of the City, once, not more than 30 and not less than 10 days before the date of the hearing, in substantially the following form: NOTICE OF PUBLIC HEARING ON ADDITIONAL DEVELOPMENT ACTIVITIES TO BE UNDERTAKEN IN DEVELOPMENT DISTRICT NO. 1 TO BE FINANCED BY TAX INCREMENT FINANCING CITY OF EDEN PRAIRIE, MINNESOTA NOTICE IS HEREBY GIVEN that the City Council of the City of Eden Prairie, Minnesota (the "City") , will hold a public hearing on April 17, 1990, at 7:30 p.m., at the C /jy //4-1" , located at BaA,vcs in Eden Prairie, Minnesota, on the adoption of an amendment of the Development Program for Development District No. 1 (the "Development District") and the Tax Increment Financing Plans for Tax Increment Districts Nos . 2, 3, 4, 5, 6 and 7 (the "Districts") established within the Development District, pursuant to Minnesota Statutes, Sections 469.124 to 469.134 and Sections 469. 174 to 469 .179, as amended. A copy of the proposed amendments is on file and available for public inspection in the office of the Finance Director/Clerk at City Hall between the hours of '6o a.m. and p.m. weekdays. The proposed amendment of the Development Program would authorize additional development activities to be undertaken by the City in the Development District. Such development activities are intended to alleviate traffic congestion, eliminate unsafe highway conditions and to promote the development of tihe • Development District by private enterprise. Such development activities are currently estimated to cost approximately $12•,476:,QQQ and would include, without limitation, construction of the following improvements: 1. Traffic Signals: -- a. Prairie Center Drive at Franlo Road b. Prairie Center Drive at Columbine Road c. Prairie Center Drive at Singletree Lane d. Prairie Center Drive at West 78th/Technology Drive e. Prairie Center Drive at Plaza Drive f. Valley View Road at Plaza Drive g. Mitchell Road at Technology Drive h. Flying Cloud Drive at Fountain Place i. Valley View Road at I-494 ramp terminals j . Prairie Center Drive at I-494 ramp terminals 2 . Medcom Boulevard (Joiner Way to Franlo Road) : grading, surfacing, concrete curb and gutter, storm sewer and right-of-way. • 3 . West 78th Street (Prairie Center Drive to CSAH 18) : grading, surfacing, concrete curb and gutter and storm sewer. 4. Technology Drive (Prairie Center Drive to-TH 169) : • grading, surfacing, concrete curb and gutter and storm sewer. 5. Valley View Road (Flying Cloud Drive to Nine Mile Creek) : grading, surfacing, concrete curb and gutter, storm sewer and watermain. 6. Columbine Road (Prairie Center Drive to Primrose Lane) : grading, surfacing, concrete curb and gutter, storm sewer and right-of-way. 7. Singletree Lane (Eden Road to TH 169) : grading, surfacing, concrete curb and gutter, storm sewer and right-of-way. 8 . Leona Road (Flying Could Drive to West 78th Street) : grading, surfacing, concrete curb and gutter, storm sewer and right-of-way. 9. TH 212 (I-494 to Mitchell Road - Cooperative Agreement with MNDOT) : storm sewer, utilities and trails. 10 . Water Systems Improvements: a. Elevated storage (2MG) b. Distribution (20" watermain west of Prairie Center Drive) • 11. Street Lighting: a. Prairie Center Dirve e. Valley View Road b. Technology Drive f. West 78th Street C. Singletree Lane g. Columbine Road d_ Eden Road h. Plaza Drive 12. Purgatory Creek Park Improvements : dredging, grading, plaza and parking area surfacing, fountains and trails . 13. Intersection. Capacity improvements from 1985 "Prairie Center Drive/County Road 18 Traffic Study" a. Bryant Lake Drive at Valley View Road b. Prairie Centex Drive at Valley. View Road (East TH 169) C. Prairie Center Drive between Viking Drive and 78th Street d. TH. 169 additional through lane at Prairie Center Drive e. Valley View Road at Washington Avenue. Tt is proposed that the development activities described above be financed by revenues on hand and to be derived from tax increments generated from the. Districts. The'map below shows the location of the Development District within the City. E:{3232T I—B l BOUNDARY MAP OF DEVF..:.CPYMT 'DISTRZC•1' NO. 1 a�F.\,L�' - •---• - ej �__—ems— i ,f�• 'i 1,4 • vim/ �,��.f'� •\./� "'�. �nr— � �� \ :�:• . w ~ [T L� el I-3—I. The proposed amendment of the tax increment financing plans for the Districts would authorize the expenditure of tax increments • from the Districts to pay the costs of the development activities. All interested persons may appear at the public hearing at the time and place set forth above and present their views orally or in writing. BY ORDER OF THE CITY COUNCIL John D. Frane Finance Director/Clerk • 2 .03. As required by Minnesota Statutes, Section 469 . 126, the Finance Director/Clerk is hereby authorized and directed to forward a copy of the 1990 Amendment to the planning agency for its review to determine whether the 1990 Amendment conforms to the general plan for development of the City with a request that any comments it may have be addressed to this Council in written form on or before the date of the public hearing referred to in Section 2 .02 . 2 .04 . As required by Minnesota Statutes, Section 469 . 175, Subdivision 2, the Finance Director/Clerk is hereby authorized and directed to forward a copy of the 1990 Amendment to the members of the Board of County Commissioners of Hennepin County, the Board of Education of Independent School District No. 272 and the Board of Education of Independent District No. 287 at least 30 days before the date of the public hearing referred to in Section 2 .02 . M o Attest : . 04�a • F ance rector/Clerk M • n The motion for the adoption of the foregoing resolution • was duly seconded by Councilmember �w O LOiSa.J , and upon vote being taken thereon, the following voted in favor thereof: 01JO -,tSOAI) ///aXtsfL + s , j�GTGldso .�f �'rrJea -.Yfl and the following voted against the some• N o-J whereupon the resolution declared duly passed and adopted and was signed by the Mayor, whose signature was attested by the Finance Director/Clerk. i •