HomeMy WebLinkAboutResolution - 2014-118 - Calling for Public Hearing TIF District 16 - 12/02/2014 CITY OF EDEN PRAIRIE
HENNEPIN COUNTY, MINNESOTA
RESOLUTION NO. 2014-118
RESOLUTION CALLING FOR A PUBLIC HEARING ON APPROVAL
OF A MODIFICATION TO THE TAX INCREMENT FINANCING PLAN
FOR TAX INCREMENT FINANCING (QUALIFIED HOUSING)
DISTRICT NO. 16 IN THE CITY
BE IT RESOLVED by the City Council of the City of Eden Prairie, Minnesota(the
"City"), as follows:
1. Tax Increment Financing Plan Modification. The City and the Eden Prairie Housing
and Redevelopment Authority (the"Authority") have previously approved a plan (tile
"Redevelopment Plan")for redevelopment activities to be undertaken in Redevelopment Project
No. 5 (the "Project Area"), and a Tax Increment Financing Plan, as described in Minnesota
Statutes, 469.175, Subdivision 1 (the"TIF Plan"), establishing a tax increment financing district,
as defined in Minnesota Statutes, Section 469.174, subdivision 9, designated as Tax Increment
Financing (Qualified Housing) District No. 16 within the Project Area (the `TIF District"). The
tax increment generated by the TIF District financed the Lincoln Pare Apartments Project (the
"Project") pursuant to the TIF Plan. The Authority intends to modify the TIF Plan to increase
the estimate of the cost of the Project that will be financed with tax increment from the TIF
District, and has requested that this Council hold a public hearing on such modification, all in
accordance with and pursuant to Minnesota Statutes, Section 469.175, Subdivision 4.
2. Public Hearing. A public hearing is hereby scheduled to be held on the modification
to the TIF Plan at 7:00 p.m. on January 20, 2015, at the Eden Prairie City Center, 8080 Mitchell
Road, Eden Prairie, Minnesota. The City Clerk is hereby authorized and directed to cause notice
of such public hearing in substantially the form of Exhibit A attached hereto to be published in
the official newspaper of the City not less than 10 days nor more than 30 days prior to the date of
the hearing.
ADOPTED by the Eden Prairie City Council this 2nd day of December, 2014.
N ncy T u is, ay
ATTEST:
Kat een Porta, City Clerk
EXHIBIT A
NOTICE OF PUBLIC HEARING ON APPROVAL OF A MODIFICATION TO
THE TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT
FINANCING (QUALIFIED HOUSING) DISTRICT NO. 16 IN THE CITY OF
EDEN PRAIRIE
NOTICE IS HEREBY GIVEN that the City Council of the City of Eden Prairie (the
"City") will hold a public hearing on the approval of a modification to the Tax Increment
Financing Plan (the "TIF Plan") for Tax Increment Financing (Qualified Housing) District No.
16 (the "TIF District") within Redevelopment Project Area No. 5 (the "Project Area") at 7:00
p.m. on Tuesday, January 20, 2015, at the Eden Prairie City Center, 8080 Mitchell Road, Eden
Prairie, Minnesota.
The modified TIF Plan provides for the financing, with tax increment revenues, of the
Lincoln Parc Apartments housing proiect and public improvements directly related thereto.
Accompanying this notice is a map of a portion of the City. The map shows the area
encompassed by the Project Area and the TIF District from which tax increment may be
collected, pursuant to the modified TIF Plan, and the area in which such tax increment may be
expended.
All who wish to be heard as to the modification of the TIF Plan will be given an
opportunity to express their views at the time of the public hearing or may file written comments
with the City Clerk prior to the public hearing.
By/s/Kathleen Porta, City Clerk