HomeMy WebLinkAboutResolution - HRA 2011-01 - Rescinding HRA Resolution 2008-02, TIF 15 - 06/14/2011 HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF EDEN PRAIRIE
HENNEPIN COUNTY, MINNESOTA
H.R.A. RESOLUTION NO. 2011-01
A RESOLUTION RESCINDING HRA RESOLUTION 2008-02 WHICH GRANTED
APPROVAL OF THE AMENDMENT TO THE TAX INCREMENT FINANCING PLAN
FOR TAX INCREMENT FINANCING DISTRICT NO. 15
BE IT RESOLVED by the Board of Commissioners (the "Commissioners") of the
Housing and Redevelopment Authority in and for the City of Eden Prairie, Minnesota (the
"Authority"), as follows:
Section 1. Recitals.
1.01. On December 17, 1996, the Authority, pursuant to Minnesota Statutes section
469.001 to 469.047, as amended, approved a redevelopment plan, as defined in Minnesota
Statutes Section 469.002, subdivision 16, designated as the Project Plan (the "Project Plan") for
redevelopment Project No. 5 (the "Project Area") and a redevelopment project to be undertaken
pursuant thereto, as defined in Minnesota Statutes Section 469.002, Subdivision 14 (the
"Redevelopment Project").
1.02. Pursuant to the Minnesota Tax Increment Financing Act, Minnesota Statutes
Sections 469.174 to 469.179, as amended (the "Act"), the HRA approved establishment of Tax
Increment Financing District No. 15 (the "District") and approved a Tax Increment Financing
Plan therefor(the"Original TIF Plan")on July 20, 1999.
1.03. Pursuant to the Act, the City on July 15, 2008, the Authority adopted Resolution
2008-02 which approved the Amendment to Tax Increment Financing Plan for Tax Increment
Financing ("Qualified Housing"), District No. 15 (Eden Shores Senior Housing Campus, Phase
II Expansion)(the"Amended TIF Plan").
1.04. The Developer determined not to execute an amendment to the Project
Management Agreement which incorporated the terms of the Amendment to the Tax Increment
Financing Plan and accordingly the City did not file the Amended TIF Plan with the
Commissioner of the Minnesota Department of Revenue and the Office of the State Auditor
pursuant to Minnesota Statutes section 469.175, Subd. 4a.
1.05. Pursuant to Act, the Authority has before it for consideration and approval a
Modification of the Original TIF Plan, which Modification has been adopted by the Authority.
1.06. The Authority has been advised that it is appropriate to rescind Resolution No.
2008-02 which approved, ratified, established, and adopted the Amended TIF Plan.
NOW THEREFORE BE IT RESOLVED by the Board of Commissioners of the Housing and
Redevelopment Authority in and for the City Council of the City of Eden Prairie, Minnesota, that
Resolution 2008-02 is hereby rescinded.
ADOPTED by the Housing and Redevelopment Authority on June 14, 2011.
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ATTEST:
Rick Getschow, Executive Director
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