HomeMy WebLinkAboutResolution - 96-10 - Pubic Hearing to Consider Establishing a Tax Increment Financing (TIF) District - 01/02/1996 CITY OF EDEN PRAIRIE
HENNEPIN COUNTY,NIINNESOTA
RESOLUTION NO. 96 — 1
A RESOLUTION CALLING FOR A PUBLIC HEARING ON APPROVAL OF A PROJECT PLAN FOR
REDEVELOPMENT PROJECT AREA NO. 4 IN AND FOR THE CITY OF EDEN PRAIRIE AND ON
APPROVAL OF A TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING
(QUALIFIED HOUSING)DISTRICT NO. 12
BE IT RESOLVED by the City Council of the City of Eden Prairie,Minnesota(the "City"), as follows:
1. Proposed Project Plan and Financing Plan The Housing and Redevelopment Authority in and for
the City of Eden Prairie, Minnesota (the "HRA") has prepared, and will present to the City for approval, a
redevelopment plan, as defined in Minnesota Statutes, Section 469.002, subdivision 16, designated as the Project
Plan(the"Project Plan")for Redevelopment Project Area No. 4 (the "Project Area"), and a redevelopment project
to be undertaken pursuant thereto, as defined in Minnesota Statues, Section 469.002, subdivision 14 (the
"Redevelopment Project"). In order to finance the public redevelopment costs to be incurred in connection with
the Project Plan and the Redevelopment Project,the HRA has prepared, and will present,to the City for approval,
a tax increment financing plan (the "Financing Plan"), which establishes a tax increment financing district, as
defined in Minnesota Statutes, Section 469.174, subdivision 9,designated as Tax Increment Financing(Qualified
Housing)District No. 12 within the Project Area. It has been proposed that the Board of Commissioners of the
HRA and the City Council approve the Project Plan and Financing Plan, and that this Council hold a public hearing
on the Project Plan and Financing Plan as required by Minnesota Statutes, Sections 469.028 and 469.175,
subdivision 3.
2. Public Hearing. A public hearing is hereby scheduled to be held on the Project Plan and Financing
Plan at 7:30 p.m. on February 6, 1996, in the Council Chambers of the Eden Prairie City Center, 8080 Mitchell
Road, Eden Prairie,Minnesota. The.Finance Director/Clerk is hereby authorized and directed to cause notice of
such public hearing in substantially the form of Exhibit A hereto to be published in the official newspaper of the
City not less than 10 days prior to the date of the hearing, and to provide the information required by Minnesota
Statutes, Section 469.175, subdivision 2 to the appropriate governmental bodies.
ADOPTED by the City Council on January 2, 1996.
ATTEST:
�4/Jean L. Harris,Mayor
Jo rave, Finance Director/Clerk