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HomeMy WebLinkAbout2012-209CITY OF STILLWATER COUNTY OF WASHINGTON STATE OF MINNESOTA Council member Polehna introduced the following resolution and moved its adoption: RESOLUTION NO. 2012-209 RESOLUTION ADOPTING A MODIFICATION TO THE DEVELOPMENT PROGRAM FOR DEVELOPMENT DISTRICT NO. 1, AND MODIFICATION OF THE TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 4 WITHIN DEVELOPMENT DISTRICT NO. 1, PURSUANT TO AND IN ACCORDANCE WITH MINNESOTA STATUTES SECTIONS 469.124 TO 469.134 AND 469.174 TO 469.179 BE IT RESOLVED by the City Council (the "Council ") of the City of Stillwater, Minnesota (the "City "), as follows: Section 1. Recitals. 1.01 The City Council (the "Council ") of the City of Stillwater (the "City ") has heretofore established Development District No. 1 and adopted the Development Program therefor. It has been proposed by the City that it adopt a modification to the Development Program for Development District No. 1, and the modification to the Tax Increment Financing Plan for Tax Increment Financing District No. 4 within Development District No 1, pursuant to and in accordance with Minnesota Statutes Sections 469.124 TO 469.134 and 469.174 to 469.179. 1.02 The City has investigated the facts relating to this action and has caused the documents needed to take this action to be prepared. 1.03 The City has performed all actions required by law to be performed prior to the modification of the District and approval of the modified Plan, including, but not limited to, notification of Washington County and Independent School District No. 834 having taxing jurisdiction over the property to be included in the District, notification of the County Commissioner in whose district the City is located, a review of and written comment on the Plan by the City Planning Commission, and the holding of a public hearing upon published notice as required by law. 1.04 Certain written reports (the "Reports ") relating to the Plan and to the activities contemplated therein have heretofore been prepared by staff and submitted to the Council and/or made a part of the City files and proceedings on the Plan. The Reports include data, information and /or substantiation constituting or relating to the bases for the other findings and determinations made in this Resolution. The Council hereby confirms, ratifies and adopts the Reports, which are hereby incorporated into and made as fully a part of this Resolution to the same extent as if set forth in full herein. 1.05 The City is amending the Development Program for Development District No. 1 by enlarging the boundaries of Development District No. 1. Section 2. Findings for the Adoption and Approval of the Plan. 2.01 The Council hereby finds that the Plans are intended and, in the judgment of this Council, the effect of such actions will be, to provide an impetus for development, having a public purpose and will accomplish the objectives as set forth in the Plan, which are hereby incorporated herein. Section 3. Findings for the Modification of Tax Increment Financing District No. 4. 3.01 The Council hereby finds that the District is a "redevelopment district" under Minnesota Statutes, Section 469.174, Subd. 10(a)(1). 3.02 The Council further finds that the Plan conforms to the general plan for the development or redevelopment of the City as a whole; and that the Plan will 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. Section 4. Public Purpose. 4.01. The adoption of the Plan conforms in all respects to the requirements of the Act and will help fulfill a need to develop an area of the City 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 5. Approval and Adoption of the Modified Plan: Tax Increment Financing District No. 4. 5.01 The Plan, as presented to the Council on this date, including without limitation the findings and statements of objectives contained therein, are hereby approved, ratified, established and adopted and shall be placed on file in the office of the City Administrator. 5.02 The staff of the City, the City's advisors and legal counsel are authorized and directed to proceed with the implementation of the Plan and to negotiate, draft, prepare and present to this Council for its consideration all further plans, resolutions, documents and contracts necessary for this purpose. 5.03 The City Administrator is further authorized and directed to file a copy of the Plan with the Commissioner of Revenue. The motion for the adoption of the foregoing resolution was duly seconded by Member Roush, and upon vote being taken thereon, the following voted in favor thereof: Councilmembers Menikheim, Cook, Roush, Polehna and Mayor Harycki. and the following voted against the same: None Dated: December 18, 2012• TAX INCREMENT DISTRICT NO.4 RESOLUTION OF CLARIFICATION AND ALLOCATION WHEREAS, an amended budget for Tax Increment District No. 4 was adopted by the City Council on November 16, 1999, authorizing future expenditures of $17,314,146.00; and, WHEREAS, through the year end 2011 total expenditures actually paid with increment was $5,232,171.00; and, WHEREAS, the annual reporting form of the Minnesota State Auditor requires that the total of the new budget and the expenditures made through year end 2011 be clarified and reallocated, but not increased, in order to be properly reported. NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Stillwater, Minnesota, that the budget adopted November 16, 1999 be reallocated by restating lines 19 through 28 of the estimated project/financing costs section of the Auditor's Reporting Form as follows: Line 19 Landibuilding acquisition $ 791,062.001 Line 20 Site improvements /preparation costs $4,441,641.002 Line 21 Utilities $3,400,000.003 Line 22 Other public improvements $3,900,000.004 Line 23 Construction of affordable housing $1,000,000.005 Line 24 Small city authorized costs, if not already included above -0- Line 25 Administrative costs $ 478,491.006 Line 26 Estimated Tax Increment Project Costs Line 27 Interest expense $3,302,952.00 Line 28 Total Estimated Project/Financing Costs to be Paid from $17,314,146.00 Tax Increment Enacted by the City Council this 4th day of December , 2012. CITY OF STILL Ken. cki, Mayor EXHIBIT V -C ATTEST: Diane F. Ward, Clerk 'Consisting of $291,062.00 expended through 2011 and $500,000.00 authorized on December 4, 2012. 2 Consisting of $3,441,641.00 expended through 2011 and $1,000,000.00 authorized on December 4, 2012. s Consisting of $400,000.00 expended through 2011 and $3,000,000.00 authorized on December 4, 2012. a Consisting of $900,000.00 expended through 2011 and $3,000,000.00 authorized on December 4, 2012. 5 $1,000.000 authorized on December 4, 2012. _ 6 Consisting of $199,468.00 expended through 2011 and $279,023.00 authorized on December 4, 2012 budget. Consisting of $2,802.952 expended through 2011 and $500,000.00 authorized on December 4, 2012.