HomeMy WebLinkAboutResolution - 99-133 - Amendments to Development District No. 1 & TIF Districts 1-7 - 08/03/1999 After some discussion, Councibnember Thorfinnson,Jr. introduced the
following resolution and moved its adoption:
RESOLUTION NO. 99-133
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,May 19, 1992 and September 7, 1993 (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 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,
4/7/92, 5/19/92 5/19/92 and 9/7/93
and 9/7/93
2 3/20/82;modified 6 8/16/83;modified
5/17/83,4/17/90, 4/17/90,4/7/92,
4/7/92, 5/19/92 5/19/92 and 9/7/93
and 9/7/93
3 11/16/82;modified 7 4/17/84;modified
5/17/83, 4/17/90, 4/17/90,4/7/92,
4/7/92, 5/19/92 5/19/92 and 9/7/93
and 9/7/93
4 3/15/83;modified
5/17/83, 4/17/90,
4/7/92, 5/19/92
and 9/7/93
1.02. It has been proposed that the City further amend its Development Program (the
"Program Amendment")in order to authorize additional development activities to be undertaken by
the City and private developers in the Development District and to amend the Original Plans (the
"Plan Amendment") to provide a means of financing the capital and administrative costs to be
incurred by the City in undertaking the development activities authorized by the Program
Amendment. 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 August 3,
1999, 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 July 22, 1999.
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.
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 Development District to provide
employment opportunities,to improve the tax base and to improve the general economy of the state.
The Program Amendment proposes that the City undertake certain additional transportation and
infrastructure improvements to encourage the development of land in the Development District. The
Council hereby finds that the proposed development activities to be undertaken in the Development
District pursuant to the Program Amendment would improve the Development District by
encouraging 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 additional activities
to be undertaken 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 properly 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 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 based on a Memorandum of the City Manager that the
proposed development of the 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 improvements to transportation and infrastructure are necessary in order to permit
additional development to occur within the Development District.
3.03. This Council hereby finds based on a Memorandum of the City Engineer 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 City Clerk is hereby authorized and directed to file the Program
Amendment and the Plan Amendment with the Commissioner of Revenue as required by Minnesota
Statutes, Section 469.175, Subdivision 2.
AJeanHarris,Mayor
Attest:
KatAleen Porta, City Clerk