HomeMy WebLinkAboutResolution - 2018-142 - Modification to TIF District 18 Plan - 12/04/2018 CITY OF EDEN PRAIRIE
HENNEPIN COUNTY, MINNESOTA
RESOLUTION NO. 2018-142
RESOLUTION ADOPTING A MODIFICATION TO THE TAX
INCREMENT FINANCING PLANFOR TAX INCREMENT FINANCING
DISTRICT NO. 18 THEREIN
BE IT RESOLVED by the City Council(the"Council")of the City of Eden Prairie,Minnesota(the
"City"), as follows:
Section 1. Recitals.
1.01. The Board of Commissioners (the "Board") of the Eden Prairie Housing and
Redevelopment Authority(the "HRA") has heretofore established Redevelopment Project Area No. 5 and
adopted the Redevelopment Plan therefor and established Tax Increment Financing District No. 18 and
adopted the Tax Increment Financing Plan therefor. It has been proposed that the City adopt a Modification
to the Tax Increment Financing Plan (the "Modification') for Tax Increment Financing District No. 18
(the "District "), all pursuant to and in conformity with applicable law, including Minnesota Statutes,
Sections 469.001 to 469.047, and Sections 469.174 to 469.1799, inclusive as amended (the "Act"), all as
reflected in the Modification and presented for the Council's consideration.
1.02. The Council has investigated the facts related to the Modification and has caused the
Modification to be prepared.
1.03. The City has performed all actions required by law to be performed prior to the adoption
and approval of the proposed Modification, including, but not limited to, notification of Hennepin County
and Independent School District No. 272 having taxing jurisdiction over the property included in the
District, and the holding of a public hearing upon published notice as required by law.
1.04. The City is not modifying the boundaries of Redevelopment Project Area No. 5.
1.05. The City is not modifying the boundaries nor term of the District.
Section 2. Findings for the Modification
2.01. The Council hereby reaffirms the original findings for the District, namely that the when
the District was established, it was established as a "housing district" under Minnesota Statutes, Section
469.174, subd. 11.
In addition,the City makes the following findings:
1. The Modification conforms to the general plan for development or redevelopment of the
City as a whole. The reason for supporting this finding is that the Modification will
generally complement and serve to implement policies adopted in the City's comprehensive
plan.
11. The Modification will afford maximum opportunity,consistent with the sound needs of the
City as a whole, for the development or redevelopment of Redevelopment Project Area
No. 5 by private enterprise. The reason for supporting this finding is that the development
activities are necessary so that development and redevelopment by private enterprise can
occur within Redevelopment Project Area No. 5.
III. The development and redevelopment efforts, in the opinion of the City, would not
reasonably be expected to occur solely through private investment within the reasonably
foreseeable future and therefor the use of tax increment financing is deemed necessary.
Section 3. Public Purpose
3.01. The adoption of the Modification conforms in all respects to the requirements of the Act
and will help fulfill a need to develop an area of the State which is already built up,to provide employment
opportunities,to improve the tax base and to improve the general economy of the State and thereby serves
a public purpose.
Section 4. Approval and Adoption of the Modification: Filing
4.01. The Modification is hereby approved and shall be placed on file in the office of the City
Clerk. Approval of the Modification does not constitute approval of any project or a development
agreement with any developer.
4.02. The staff of the City are authorized to file the Modification with the Commissioner of
Revenue,the Office of the State Auditor and the Hennepin County Auditor.
4.03. The staff of the City, the City's advisors and legal counsel are authorized and directed to
proceed with the implementation of the Modification and for this purpose to negotiate, draft, prepare and
present to this Council for its consideration all further modifications, resolutions,documents and contracts
necessary for this purpose.
ADOPTED by the Eden Prairie City Council this 0 day of December, 2018.
4 n ®ra- cen or
ATTEST:
-14(4&
Kath en Porta, City Clerk