Loading...
HomeMy WebLinkAboutResolution - HRA 2013-03 - Modification to Redevelopment Project No. 5 and Amendment to TIF District 13 - 06/04/2013 HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF EDEN PRAIRIE, MINNESOTA H.R.A.RESOLUTION NO. 2013-03 RESOLUTION ADOPTING THE MODIFICATION TO THE REDEVELOPMENT PLAN FOR REDEVELOPMENT PROJECT NO. 5 AND THE ADMINISTRATIVE AMENDMENT TO THE TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT (REDEVELOPMENT)NO. 13 BE IT RESOLVED by Housing and Redevelopment Authority in and for the City of Eden Prairie, Minnesota(the"Authority"),as follows: 1. Plan Review. The Authority has reviewed the Modification to the Redevelopment Plan (the "Redevelopment Plan Modification") for Redevelopment Project Area No. 5 (the"Redevelopment Project")and the Administrative Amendment to the Tax Increment Financing Plan(the"TIF Plan Amendment") for Tax Increment Financing District(Redevelopment)No. 13 (the"TIF District"). 2. Adoption. The Redevelopment Plan Modification is hereby adopted, subject to approval by the City Council as provided in Section 5, based on the findings in Section 3 hereof, and the TIF Plan Amendment is hereby adopted, subject to approval by the City Council as provided in Section 5, based on the findings in Section 4 hereof. 3. Findings for Approval of Redevelopment Plan Modification. The Authority hereby makes the following findings: 3.01. The Redevelopment Plan Modification would improve the Redevelopment Project by retarding blight,encouraging private redevelopment of property therein,thereby increasing employment and housing opportunities and the tax base of the City and overlapping taxing jurisdictions. 3.02, The Redevelopment Plan, as modified by the Redevelopment Plan Modification,will afford maximum opportunity, consistent with the needs of the City as a whole, for the redevelopment of the District by private enterprise. 3.03. The redevelopment activities proposed by the Redevelopment Plan, as modified by the Redevelopment Plan Modification, conform to the general plan for the development or redevelopment of the City as a whole. The redevelopment activities are compatible with the City's zoning ordinances and other related regulations and encourage efficient use of existing infrastructure as set forth in the City's Land Use Plan. 3.04. The Redevelopment Plan,as modified by the Redevelopment Plan Modification, provides an outline for the development or redevelopment of the area and is sufficiently complete to indicate its relationship to definite local objectives as to appropriate land uses and to indicate general land uses and general standards of development or redevelopment. 4. Findings for Approval of TIF Plan Amendment 4.01. The TIF District consists of a contiguous geographic area within a"project"as defined in Minnesota Statutes, Section 469,174,subdivision 8,and is a proper"tax increment financing district" within the meaning of Section 469.174, subdivision 9. Based on the information contained in the TIF Plan and the TIF Plan Amendment,the District qualifies as a"redevelopment district"within the meaning of Minnesota Statutes, Section 469.174, subdivision 10(a)(1). 4.02. The TIF Plan Amendment amends theTIF Plan by making a line item revision to the budget. At the time of the creation of the District and adoption of the TIF Plan,this Authority and the City Council found that the proposed redevelopment would not occur solely through private investment within the reasonably foreseeable future and that the increased market value of the site that could reasonably be expected to occur without the use of tax increment financing would be less than the increase in the market value estimated to result from the proposed development after subtracting the present value of the projected tax increments for the maximum duration of the District permitted by the TIF Plan,that the TIF Plan conformed to the general plan for the development or redevelopment of the City as a whole; and that the TIF Plan would afford maximum opportunity consistent with the sound needs of the City as a whole, for the development or redevelopment of the District by private enterprise. The TIF Plan Amendment does not alter the findings made by this Authority and the City Council at the creation of the District and adoption of the TIF Plan. 5. Transmittal. The Authority does hereby transmit the TIF Plan Amendment to the Eden Prairie City Council for approval,and does hereby transmit the Redevelopment Plan Modification to the Eden Prairie City Council for approval after the same has been considered by the Council subsequent to a public hearing to be held in accordance with Minnesota Statutes, Chapter 469. The Planning Commission has already affirmed the findings of the Authority contained in Section 3.03. 6. Effiag. Following approval by the City Council, the Director is hereby authorized and directed to file the Redevelopment Plan Modification and the TIF Plan Amendment with the Commissioner of the Minnesota Department of Revenue and the Office of the State Auditor pursuant to Minnesota Statutes, Section 469.175, subdivision 4a. ADOPTED by the Housing and Redevelopment Authority in and for the City of Eden Prairie this 4th day of June, 2013. ATTEST: Rick Getschow, Executive Director 2 EXHIBIT A HOUSING AND REDEVELOPMENT AUTHORITY RESOLUTION NO. 2013-03 The reasons and facts supporting the findings for Resolution Adopting the Modification to the Redevelopment Plan for Redevelopment Project No. 5 are as set forth below: FINDING 3.01. The Redevelopment Plan Modification would improve the Redevelopment Project by retarding blight, encouraging private redevelopment of property therein, thereby increasing employment and housing opportunities and the tax base of the City and overlapping taxing jurisdictions. The HRA Finds: The improvements contemplated in area included in the Redevelopment Project Area by the amendment enable and were key to the development of property in the southeast quadrant of Crosstown Highway and Shady Oak Road. The proposed development of up to four office towers housing approximately 6,000 employees required the improvement of roads serving the area. The development maximizes the use of property that has been vacant and undeveloped and increases employment in the City which will likely spur the need for more housing opportunities for the employees working at the site. FINDING 3.02. The Redevelopment Plan, as modified by the Redevelopment Plan Modification, will afford maximum opportunity, consistent with the needs of the City as a whole, for the redevelopment of the District by private enterprise. The HRA Finds: The Redevelopment Plan, as modified by the Redevelopment Plan Modification, continues to afford maximum opportunity, consistent with the needs of the City as a whole, for the redevelopment of the District by private enterprise. At the time of the creation of the District and adoption of the TIF Plan, the HRA found that the Redevelopment Plan would afford maximum opportunity, consistent with the needs of the City as a whole, for the redevelopment of the District by private enterprise. The amendment of the Redevelopment Plan by enlarging the geographic area of the Redevelopment Project Area does not alter the finding made by this HRA at the creation of the District and the adoption of the TIF Plan. The finding remains unaffected by the enlargement of the geographic area. The redevelopment of the District by private enterprise is enhanced in its sustainability by private development within the Redevelopment Project Area and the additional employment opportunities provided within the Project Area. FINDING 3.03. The redevelopment activities proposed by the Redevelopment Plan, as modified by the Redevelopment Plan Modification, conform to the general plan for the development or redevelopment of the City as a whole. The redevelopment activities are compatible with the City's zoning ordinances and other related regulations and encourage efficient use of existing infrastructure as set forth in the City's Land Use Plan. The HRA Finds: The proposed improvements in the area added by the amendment were considered by the Planning Commission at a meeting held on May13, 2013. The Planning Commission found that the modification to the redevelopment plan conform to the general plan for the development or redevelopment of the City as a whole. FINDING 3.04. The Redevelopment Plan, as modified by the Redevelopment Plan Modification, provides an outline for the development or redevelopment of the area and is sufficiently complete to indicate its relationship to definite local objectives as to appropriate land uses and to indicate general land uses and general standards of development or redevelopment. The HRA Finds: The amendment to the Redevelopment Plan enlarges the geographic area of the Redevelopment Project Area No. S. The improvements proposed to be constructed in the area of the amendment provide the necessary infrastructure to achieve local objectives of the development of the land in the southeast quadrant of Crosstown Highway and Shady Oak Road. The proposed development of this land has been agreed to between the City and the owner and memorialized in a development agreement setting out the general and specific land use and general and specific standards for the development of the property. APPENDIX A CITY RESOLUTION 2013-53 AND HRA RESOLUTION 2013-03 Supporting Statement by Janet Jeremiah, Director of Community Development and Robert Ellis, Director of Public Works for the City of Eden Prairie. Janet Jeremiah states that I am the Director of Community Development for the City of Eden Prairie. Robert Ellis states that I am the Director of Public Works for the City of Eden Prairie. In our capacity as Directors of the our respective City of Eden Prairie Departments, we have both been involved in the amendment of the Redevelopment Plan Redevelopment Project Area No. 5 which enlarges the geographic area of the Redevelopment District. We have also both been involved in and led our respective departments in the City's efforts for the development of property in the southeast quadrant of Crosstown Highway and Shay Oak Road and the amended Project Area in general. In support of the Findings to be made by the City Council and the HRA for the Redevelopment Plan Modifications we provide the following statement based upon our knowledge and experience with this Redevelopment Plan and development in the City generally. FINDING 3.01. The Redevelopment Plan Modification would improve the Redevelopment Project by retarding blight,encouraging private redevelopment of property therein,thereby increasing employment and housing opportunities and the tax base of the City and overlapping taxing jurisdictions. SUPPORTING STATEMENT: The improvements contemplated in area included in the Redevelopment Project Area by the amendment enable and were key to the development of property in the southeast quadrant of Crosstown Highway and Shady Oak Road. The proposed development of up to four office towers housing approximately 6,000 employees required the improvement of roads serving the area. The development maximizes the use of property that has been vacant and undeveloped and increases employment in the City which will likely spur the need for more housing opportunities for the employees working at the site. FINDING 3.02. The Redevelopment Plan,as modified by the Redevelopment Plan Modification, will afford maximum opportunity, consistent with the needs of the City as a whole, for the redevelopment of the District by private enterprise. SUPPORTING STATEMENT: The Redevelopment Plan, as modified by the Redevelopment Plan Modification, continues to afford maximum opportunity, consistent with the needs of the City as a whole,for the redevelopment of the District by private enterprise. At the time of the creation of the District and adoption of the TIF Plan,the Council found that the Redevelopment Plan would afford maximum opportunity, consistent with the needs of the City as a whole, for the redevelopment of the District by private enterprise. The amendment of the Redevelopment Plan by enlarging the geographic area of the Redevelopment Project Area does not alter the finding made by this Council at the creation of the District and the adoption of the TIF Plan. The finding remains unaffected by the enlargement of the geographic area. The redevelopment of the District by private enterprise is enhanced in its sustainability by private development within the Redevelopment Project Area and the additional employment opportunities provided within the Project Area. FINDING 3.03. The redevelopment activities proposed by the Redevelopment Plan, as modified by the Redevelopment Plan Modification, conform to the general plan for the development or redevelopment of the City as a whole. The redevelopment activities are compatible with the City's zoning ordinances and other related regulations and encourage efficient use of existing infrastructure as set forth in the City's Land Use Plan. SUPPORTING STATEMENT: The proposed improvements in the area added by the amendment were considered by the Planning Commission at a meeting held on May 13, 2013. The Planning Commission found that the modification to the redevelopment plan conform to the general plan for the development or redevelopment of the City as a whole. FINDING 3.04. The Redevelopment Plan,as modified by the Redevelopment Plan Modification, provides an outline for the development or redevelopment of the area and is sufficiently complete to indicate its relationship to definite local objectives as to appropriate land uses and to indicate general land uses and general standards of development or redevelopment. SUPPORTING STATEMENT: The amendment to the Redevelopment Plan enlarges the geographic area of the Redevelopment Project Area No. 5. The improvements proposed to be constructed in the area of the amendment provide the necessary infrastructure to achieve local objectives of the development of the land in the southeast quadrant of Crosstown Highway and Shady Oak Road. The proposed development of this land has been agreed to between the City and the owner and memorialized in a development agreement setting out the general and specific land use and general and specific standards for the development of the property. Dated: June 3, 2013 Janet Jeremiah, Director of Community Development Robert Ellis, Director of Public Works