HomeMy WebLinkAboutResolution - 93-191 - Relating to Development District No. 1 and Tax Increment Financing Districts Nos. 1, 2, 3, 4, 5, 6, and 7; Adopting Amendments to the Development Program and Tax Increment Financing Plans Thereof - 09/07/1993 M i
After some discussion, Councilmember
• introduced the following resolution and moved its adoption:
RESOLUTION NO. " 3 1 9 9
RESOLUTION RELATING TO DEVELOPMENT DISTRICT
NO. 1 AND TAX INCREMENT FINANCING DISTRICTS
NOS . 1, 2, 3, 4, 5, 6 AND 7; ADOPTING
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, May 17, 1983, April 17, 1990,
April 7, 1992 and May 19, 1992 (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. 1, 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:
Tax Increment Date of Adoption Tax Increment Date of Adoption
District NO. or Modification Dist rift No. or Modification
1 9/22/81; modified 5 5/17/83; modified
3/20/82, 5/17/83, 4/17/90, 4/7/92 and
4/7/92 and 5/19/92 5/19/92
2 3/20/82; modified 6 8/16/83; modified
5/17/83, 4/17/90, 4/17/90, 4/7/92 and
4/7/92 and 5/19/92 5/19/92
3 11/16/82; modified 7 4/17/84; modified
5/17/83, 4/17/90, 4/17/90, 4/7/92 and
4/7/92 and 5/19/92 5/19/92
4 3,/15/83; modified
5/17/83, 4/17/90,
4/7/92 and 5/19/92
s
1.02 . It has been proposed that the City further
amend its Development Program (the "Program Amendment") in order
to enlarge the geographical area of the Development District and
to amend the Original Plans (the "Plan Amendment") to provide for
the payment of some of the capital and administrative costs to be
incurred by the City in undertaking the development activities
authorized by the Program Amendment within the enlarged
Development District. The Program Amendment has been transmitted
to the planning agency of the City, which has determined that the
Original Program as amended and supplemented by the Program
Amendment (as so amended and supplemented, the "Program") conforms
to the general plan for the development of the City.
1.03. Pursuant to Minnesota Statutes, Sections
469 .126 and 469.175, the adoption of the Program Amendment and
Plan Amendment is for the consideration of this Council. On
September 7, 1993, this Council conducted a public hearing on the
desirability of adopting the Program Amendment and the Plan
Amendment . Notice of the public hearing was duly published as
required by law in the Eden Prairie News, the official newspaper
. of the City on , 1993.
1.04 . 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 were given an opportunity to meet with the City
and comment on the Plan Amendment. At least 30 days before the
public hearing the City provided the county and the school
district boards with information on the fiscal and economic
implications of the Plan Amendment.
Section 2 . Adoption of Program Amendment . On the
basis of the proposed Program Amendment prepared by officers of
the City and the information elicited from consultation with the
planning agency and at the public hearing referred to in Section
1.03, it is hereby found, determined and declared:
2 .01. The Council hereby ratifies and confirms its
determination that there is a need for new development in the area
of the City encompassed by the enlarged Development District to
provide employment opportunities, to improve the tax base and to
improve the general economy of the state. The Council hereby finds
that the proposed development activities to be undertaken in the
Development District as enlarged pursuant to the Program Amendment
would improve the Development District by encouraging private
development of property therein, thereby increasing employment and
the tax base of the City and overlapping tax jurisdictions. It is
in the best interests of the City to adopt the Program Amendment.
2 .02 . Upon review of the Program, the information
elicited from the planning agency and at the public hearing, and
on the basis of the findings made in Section 2 .01, this Council
hereby adopts the Program Amendment and orders that it be placed
on file in the office of the City Clerk.
Section 3. ,Approval of Plan Amendment . On the
basis of the Plan Amendment and the information elicited at the
public hearing referred to in Section 1.03, it is hereby found,
determined and declared:
3 .01. The Plan Amendment provides the means to
finance the costs of the development activities to be undertaken
in the enlarged Development District pursuant to the Program
Amendment . The Original Plans, as amended and supplemented by the
Plan Amendment (as so amended and supplemented, the "Plans")
contain a statement of objectives for the improvement of the
Development District, a statement as to the development program
for the respective District and a statement of the property within
the Development District which the City intends to acquire. The
Plans also estimate the capital and administrative costs of the
Development District, the amount of bonded indebtedness to be
incurred, the sources of revenues to finance or otherwise pay
public costs of the respective District, the captured net tax
capacity of the respective District at completion and the duration
of the District. The Plans also describe and identify the
• development activities to be undertaken or expected to be
undertaken in each District. The Plan Amendment further contains
an estimate of the impact of the proposed tax increment financing
on the net tax capacities of all taxing jurisdictions in which
each District is located. All the captured tax capacity is
necessary for the objectives of each District.
3 .02 . This Council hereby finds that the proposed
development of the enlarged Development District to be encouraged
pursuant to the Program Amendment would not, in the opinion of
this Council, occur solely through private investment within the
reasonably foreseeable future and that therefore the use of tax
increment financing is necessary. The development activities to
be undertaken in the enlarged Development District are necessary
in order to permit additional development to occur within the
Development District .
3 .03 . This Council hereby finds that the Plans
conform to the general plan for the development of the City as a
whole. Under the general plan for the development of the City the
Districts are zoned so as to permit the uses proposed by the
Program Amendment.
• 3.04 . This council hereby ratifies and confirms
that the Plan Amendment will afford maximum opportunity,
consistent with the sound needs of the City as a whole, for-the
development of each of the Districts by private enterprise. The
development activities contemplated in the Program Amendment would
provide an opportunity for a significant increase in employment
opportunities in the City and enhance the tax base of the City.
3 .05. Upon review of the Plans, the information
elicited at the public hearing and on the basis of the findings in
Sections 3.01 to 3.04, this Council hereby approves the Plan
Amendment .
Section 4 . Filing. The inance Director/Clerk is
hereby authorized and directed to file a Program Amendment and
the Plan Amendment with the Commissio r f Reve e as required by
Minnesota Statutes, Section 469. 175, ub 'vision 2 .
Mayor
Attest :
•
Fi nce irector/Clerk
•
r -
•
1993 AMENDMENT OF DEVELOPMENT PROGRAM
FOR
DEVELOPMENT DISTRICT NO. 1
and
1993 AMENDMENT OF TAX INCREMENT FINANCING PLANS
FOR TAX INCREMENT DISTRICTS NOS. 1, 2, 3, 4, 5, 6 AND 7
•
September 7, 1993
CITY OF EDEN PRAIRIE, MINNESOTA
• I . INTRODUCTION
The City Council of the City of Eden Prairie, Minnesota
(the "City") has determined that there is a need for the
development of an area of the City designated as Development
District No. 1 (the "Development District") , and has adopted a
development program therefor, dated September 22, 1981 and
subsequently amended on March 30, 1982, May 17, 1983, April 17,
1990, April 7, 1992 and May 19, 1992 (as so amended, the "Original
Program") , for development of the Development District. It is now
necessary to amend the Original Program to increase the
geographical area of the Development District . The actions to be
taken by the City pursuant to this 1993 Amendment to Development
Program (the "Program Amendment") are necessary to secure the
development of the property included in the Development District
at this time and in a manner which will best meet the needs of the
City.
In order to finance the capital and administration costs
to be incurred by the City in connection with the Development
District, the City adopted, and in certain cases modified, on the
dates indicated below tax increment financing plans (as so
modified, the "Original Plans") for the following Tax Increment
Districts (collectively, the "Districts") :
Tax Increment Date of Adoption Tax Increment Date of Adoption
• n; strirt No. or Modification District No. or Modification
1 9/22/81; modified 5 5/17/83; modified
3/20/82, 5/17/83, 4/17/90, 4/7/92 and
4/7/92 and 5/19/92 5/19/92
2 3/20/82; modified 6 8/16/83; modified
5/17/83, 4/17/90, 4/17/90, 4/7/92 and
4/7/92 and 5/19/92 5/19/92
3 11/16/82; modified 7 4/17/84; modified
5/17/83, 4/17/90, 4/17/90, 4/7/92 and
4/7/92 and 5/19/92 5/19/92
4 3/15/83; modified
5/17/83, 4/17/90,
4/7/92 and 5/19/92
It is now necessary to amend the Original Plans by the
following Plan Amendment to authorize the expenditure of tax
increment revenues, on hand or to be collected, in the enlarged
Development District. The Plan Amendment will not authorize the
incurrence of .additional bonded indebtedness or change the
boundaries or the legal durat.ion of any of the Districts.
•
• The Program Amendment and the Plan Amendment are adopted
by the City Council of the City pursuant to the Development
District Act, now codified at Minnesota Statutes, Sections 469.124
to 469.134, as amended, and the Tax Increment Financing Act, now
codified at Minnesota Statutes, Sections 469 .174 to 469 .179, as
amended.
II . 1993 AMENDMENT TO DEVELOPMENT PROGRAM FOR DEVELOPMENT
DISTRICT NO. 1
A. Geoqraphinal Area of the Development District. The
geographical area of Development District No. 1 is hereby amended
to include all of the property described on Exhibit I-A attached
hereto and made a part hereof.
B. Environmental Controls. It is presently anticipated
that the Development Activities proposed in the Development
District as enlarged by this Program Amendment will not present
major environmental problems . All municipal actions, public
improvements and private development will be carried out in a
manner that will comply with applicable environmental standards.
C. Estimated Cost of 1992-2 Project . The estimated
costs associated with the 1992-2 Project are not changed by this
Program Amendment, and remain at $17,200,000, including
• acquisition, relocation, demolition and site clearance costs,
public improvement costs, the cost of professional services for
planning, design, engineering and appraisals, contingencies, and
administration costs calculated at 5%. It is anticipated that the
elements of the costs of the 1992-2 Project may decrease or
increase, but that the total costs will not exceed the amount
shown above.
D. Effect of Program Amendment. Except as amended and
supplemented by this Program Amendment, the Original Program
remains in full force and effect and its provisions apply to the
provisions of this Program Amendment, except to the extent amended
or supplemented hereby.
. -2-
s
III . PLAN AMENDMENTS
A. Use of Tax Increment Revenues in the Enlarged
Development District. The estimated Capital and Administrative
Costs of the 1992-2 Project will include Capital and
Administrative Costs incurred in the Development District as
enlarged by the Program Amendment. Tax increment revenues will be
expended in payment of such Capital and Administrative Costs of
the 1992-2 Project.
B. Estimated Capital and Administrative Costs of the
1992-2 Project . The estimated Capital and Administrative Costs of
the 1992-2 Project will not be greater than the estimated Capital
and Administrative Costs set forth in the Original Plans.
C. Payment of Capital and Administrative Costs.
1 . In General. All Capital and Administrative Costs of
the 1992-2 Project will be paid from Tax In derived from
the Districts . The City reserves the right to levy special
assessments to finance in whole or in part the costs of the 1992-2
Project.
• 2 . Bonded Indebtedness To Be Incurred. No indebtedness
evidenced by Tax Increment Bonds will be incurred in connection
with the 1992-2 Project . The City reserves the right to issue
Special Assessment Bonds to pay, if necessary, costs of the 1992-2
Project .
D. yi-scal and Economic Implications of Plan Amendment.
The Plan Amendment has no fiscal and economic implication apart
from those specified in the Original Plans since the Capital and
Administrative Costs will not be greater than those set forth in
the Original Plans .
E. Effect of Plan Amendment. Except as amended and
supplemented by this Plan Amendment, each of the Original Plans
remains in full force and effect and its provisions apply to the
respective provisions of this Plan Amendment, except to the extent
amended or supplemented hereby.
r
• This Program Amendment and this Plan Amendment were
adopted by the City Council of the City of Eden Prairie, Minnesota
on the 7th day of September, 1993 .
Mayor
Attest:
City Clerk
•
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• EXHIBIT I-A
Legal Description of Geographic
Boundaries of Development
District No. 1
Beginning at the Northeast corner of Section 13, Township 116, Range 22, thence South along
the East line of said Section to the North shoreline of Anderson Lake. Thence Westerly and
Northerly along said shoreline to the Southerly extension of the West line of the Southeast
Quarter of the Northeast Quarter of said Section 13, thence North along said West line to a point
250' South of Southerly right-of-way line of W. 78th Street, thence West 250' parallel to said
right-of-way line, thence South 86' 49' 48" West 92.80', thence South 34' 07' 30" West 420',
thence South 07' 07' 30" West 153.451, thence South 46' 55' 30" East 141.63', thence South
420 08' 55" East 255.74', thence South 49° 07' 10" West 190.03', thence North 59' 20' 19"
West 105.27', thence North 48' 54' 36" West 180.96', thence North 55' 42' 32"West 123.121
,
thence North 52' 19' 01" West 82.04', thence North 53° 01' 35" West 228.14', thence South
74" 31' 07" West 254.75', thence South 22' 46' 26" West -162.32', thence North 72° 08' 25"
West 217.16', thence North 36' 42' 04" West 267.15', thence North 0° 52' 30" West 37.24',
thence South 87' 00' 36" West 487.65', thence North 72° 32' 50" West 257.53', thence North
60' 43' 31" West 418.89', thence North 29" 11' 58" West 387.18', thence North 00 32' 55"
West 31.64', to the South right-of-way line West 78th Street, thence West along said Southerly
right-of-way line to its intersection with the Easterly right-of-way line of Schooner Boulevard,
thence Southerly along said Easterly right-of-way line to its intersection with the Northerly
property line of Tract H, R.L.S. 1509, thence South 730 35' 39" East 306.39',thence South 87"
02' 16" East 855.00', thence South 10' 06' 21" East 539.18', thence South 21' 30' 05" East
106.40', thence South 510 20' 25" East 115.26', thence South 820 23' 01" East 173.53', thence
North 740 53' 11" East 141.91', thence South 84' 48' 20" Fast 143.59', thence North 750 39'
52" East 92.89', thence South 480 20' 18" East 169.99', thence South 020 51' 45" East
140.17', thence South 110 18' 36" East 152.97', thence South 260 33' 54" East 321.99% thence
South 19' 37' 04" East 321.67', thence South 33° 01' 26" East 214.68', thence South 590 21'
52" East 239.42', thence South 030 50' 14" West 164.37', thence South 060 40' 48" West
223.521, thence South 31' 59' 47" West 84.49', thence South 150 49' 21" West 123.10', thence
South 24° 30' 20" West 40.24', thence South 350 08' 12" West 58.01', thence South 090 10'
30" West 90.60', thence South 21* 10' 30" West 63.40', thence South 300 09' 23" East
168.171, thence North 700 38' 37" West 104.00', thence South 790 58' 37" West 271.74',
thence North 610 54' 45" West 66.59', thence North 36' 57' 26" East 180.00', thence North
180 24' 34" West 189.04', thence North 790 20' 34" West 187.36', thence North 080 54' 34"
West 300.40',thence North 280 07' 00" West 205.381, thence North 480 34' 34"West 213.731
,
thence North 72° 48' 34" West 261.911, thence North 650 49' 34" West 350.63', thence on a
curve 275.04' chord bearing South 49' 17' 56" West, having a radius of 796.57' and a central
angle of 19' 47', thence North 87' 10' 34" West 649.98', thence South 10 31' 26" East
102.77', thence North 820 22' 32" West 250.23', thence North 890 38, 39" West 1035.40' to
the Easterly right-of-way line of Preserve Boulevard, thence Northerly along said Easterly right-
of-way to its intersection with the South right-of-way line of Schooner Boulevard, thence North
l'° 15' 55" East 110.76' along said South right-of-way, thence Westerly along said Southerly
right-of-way line to its intersection with the Easterly right-of-way line of Franlo Road, thence
Southerly along Easterly right-of-way line of Franlo Road 800'+/-, thence West to West line
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w
• of the Southeast Quarter of the Southeast Quarter of Section 14, Township 116, Range 22,
thence South along said West line to its intersection with the South line of Section 14, Township
116, Range 22, thence West along said South line to the Southeast corner of Section 15,
Township 116, Range 22, thence North along the East section line of Section 15 to the South
line of Outlot A Fountain Place Apartments, thence Westerly along said South line of Outlot A
to the West line of Fountain Place Apartments, thence South along said West line to the South
line of Section 15, thence West along South section line to the East line of Outlot A Eden Place
Apartments, thence Southwesterly along said East line to intersection with the Northerly right-of-
way line of Anderson Lakes Parkway, thence across Anderson Lakes Parkway to a point of
intersection (said point of intersection is the North line of Block 1 Research Farm 3rd Addition
and the Southerly right-of-way line of Anderson Lakes Parkway), thence Southwesterly along
the Northerly line of Block 1 to the Westerly line of said Block 1, thence Southerly along West
line to Northerly right-of-way line of Staring Lake Parkway, thence Southeasterly to a point on
the South line of the Northeast Quarter of Section 22 507.62' East of the Westerly corner of
Outlot C Research Farm 3rd Addition, thence continuing Southeasterly along West line of Outlot
C to the most Southwestern corner of Outlot C, said Southwesterly comer being 890' East of
West line of the Southeast Quarter of Section 22, thence South parallel with said West line to
the South line of said Section 22, thence Easterly along said South line to the Westerly right-of-
way line of Highway 169, thence Southerly and Westerly along said Westerly right-of-way line
to a point 737.21' South of the said Southerly section line, thence West parallel with said
Southerly section line 160', thence North 83" 11' 30" West 932.45', thence South 6° 78' 30"
West 690' to the West line of the Northeast Quarter of Section 27, thence Northwesterly to its
• intersection with a point on the South shore of Staring Lake approximately 500' West of the
West line of the Southeast Quarter of Section 22, thence Easterly and Northerly along the shore
of Staring Lake to the South line of the Northwest Quarter of Section 22, thence East along said
South line to a point 270' West of the Southeast corner of the Northwest Quarter of Section 22,
thence Northerly to centerline of Staring Lake Parkway, thence Easterly along said centerline
to its intersection with the Southerly extension of the West line of Outlot A Research Farm 3rd
Addition, thence Northerly along said West line of Outlot A to the Southerly right-of-way line
of Anderson Lakes Parkway, thence Northeasterly at right angles with the centerline to the West
line of Outlot A Eden Place Apartments, thence Northerly and Westerly along said West line
to the North line of Section 22, thence Westerly along said North line to the West line of the
Southeast Quarter of Section 15, thence North along said West line to the North right-of-way
line of Chestnut Drive, thence Easterly along the Northerly right-of-way line to the West line
of Outlot F Windsong Two Plat, thence Easterly, Northerly and Westerly along said Westerly
line to the South line of Outlot E, thence Westerly along said South line to the West line of
Southwest Quarter of Section 15, thence South along said West line to the North line of the
Parkway Apartments Plat, thence Westerly along said North line to the Westerly right-of-way
line of Anderson Lakes Parkway, thence Northerly and Westerly along said Westerly right-of-
way line to Mitchell Road, thence westerly along the southerly right-of-way line of Scenic
Heights Road to the Southwest corner of the Southeast Quarter of the Northeast Quarter of
Section 16, thence North along West Line of Southeast Quarter of the Northeast Quarter of
Section 16 to the North right-of-way line of State Highway 5, thence East along North right-of-
way line of State Highway#5 to its intersection with a line bearing South 10' West from a point
1206.7' East along North line of Section 15 from the Northwest comer of said Section 15,
• thence Northeast on last described line to the North line of Section 15, Township 116, Range
22, thence East along said North line to the West line of Tract A, R.L.S. #1354, thence North
along said West line to the Northwest corner of said Tract A, thence Northwesterly along
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Southwesterly line of Lot 1, Block 2, Edenvale 4th Addition to the Southerly and Easterly right-
of-way line of Mitchell Road, thence continuing along said Southwesterly boundary line extended
to the Northwesterly right-of-way line of Mitchell Road, thence Northeasterly along said
Northwesterly right-of-way line to its intersection with the West line of the Southeast Quarter
of the Northwest Quarter of Section 10, thence North along said West line to its intersection
with the Northerly right-of-way line of Valley View Road, thence North and Easterly along said
Northerly right-of-way line to a point, 14.5' West of the East line of the said Southeast Quarter
measured at right angles to said East line, thence South parallel with said East line to a point
597.6' North of South line of Southeast Quarter of the Northwest Quarter, thence East at right
angles 14.5' to East line of said Southeast Quarter, thence South 597.6' to the Southeast corner
of the Southeast Quarter of the Northwest Quarter, thence East along said North line to its
intersection with the East line of the Southwest Quarter of the Northwest Quarter Section 11,
Township 116, Range 22, thence North along said East line to its intersection with the
Southwesterly right-of-way line of U.S. Highway #494, thence Northwesterly along said
Southwesterly right-of-way line to its intersection with the North line of said Section 11, thence
East along said North line to its intersection with the Westerly shoreline of Bryant Lake, thence
South and East along said shoreline to Point B; Point B is described as follows: Beginning at
the Southeast corner of the Northeast Quarter of said Section 11, thence West along South line
of said Quarter 525', thence deflecting to the Right 71° to its intersection with the South
shoreline of Bryant Lake, said intersection being called Point B; thence Southeasterly from Point
B to a point on the South line of the said Northeast Quarter, 525' West of the Southeast corner
of said Northeast Quarter, thence East along said South line to the said Southeast comer, thence
• South along the West line of the Northwest Quarter of the Southwest Quarter of Section 12,
Township 116, Range 22, to the Southwest corner of said Northwest Quarter of the Southwest
Quarter, thence East along the South line of said Northwest Quarter of the Southwest Quarter
to its intersection with the Easterly right-of-way line of U.S. Highway #169-212, thence
Southerly along said right-of-way line to the Northerly right-of-way line of Valley View Road,
thence Easterly and Northerly along said Northerly right-of-way line to its intersection with the
Westerly right-of-way line of Washington Avenue, thence South along said Westerly right-of-
way extended to its intersection with the Southerly right-of-way line of Valley View Road,
thence Westerly and Southerly along the Southerly right-of-way line of said Valley View Road
to its intersection with the West line of the East 30 Acres of the Southeast Quarter of the
Northeast Quarter, thence Southerly along said line 826.84', thence Westerly at right angles
522', thence Northerly at right angles to last described line to its intersection with the Southerly
right-of-way line of Valley View Road, thence Southerly and Westerly along said Southerly
right-of-way line to its intersection with the Easterly right-of-way line of Schooner Boulevard,
thence Southerly along said Easterly right-of-way line to the most Northwesterly corner of Outlot
E, Golden Strip Plat, thence Southerly and Easterly along Northerly boundary line of said Outlot
E to its intersection with the Northerly right-of-way line of U.S. Highway#494, thence Easterly
along said Northerly right-of-way line to its intersection with a line which is parallel to the East
line of Section 13, Township 116, Range 22, and 920.70' Westerly of said East line, thence
North on last described line to its intersection with the North line of said Section 13, thence East
on said North line to beginning.
• I-A-3