HomeMy WebLinkAbout7514 (Res.)
.
RESOLUTION NO. 7514
C'
A RESOLUTION MODIFYING A TAX INCREMENT
FINANCING REDEVELOPMENT DISTRICT PURSUANT
TO MINNESOTA STATUTES. SECTIONS 2'13.71 to
2'13.'18 nlCLt1Sl'VE, AND ADOPTING A FINANCE
PLAN FOR SAID TAX INCREMENT FINANCING
DlSTRICT MODIFICATION.
r
WHEREAS, the City Councll of the City of Stlllwater, Minnesota has
determined that It Is nec88llll1'Y to modify the tax Increment financing district
pursuant to M~ta Statutes. Sections 2'13.71 to 2'13.'18 lnclu8l.ve, within the
development i! ct created pursuant to Mlnne80ta Statutes, Section 4'12A.13
inclusive; and
WHEREAS, the City Councll of the City of Stlllwater has determined that
71.4 percent of the parcels In the district are occupied by bUlldlngs, streets,
utllltles or other Improvements and 35 percent of the bulldlngs are structurally
substandard and an additional 33 percent of the bundlngs are found to require
substantial renovation or clearance In order to remove sucb existing condltlolll asl
Inadequate street layout, incompatible I188S or land use relationships, overcrowding
of bulldfnp on the land, excessive dwe11lng IDllt dellllty, obsolete bulldlngs not
suitable for Improvement or conversion, or other Identified hazards to health,
safety and general_ll~1ng of the commlDllty; and
WHEREAS, the City PlannIng Commission has been consulted with regard to
the propond tax Increment financing plan modification and has been given the
opportunity to review and comment upon said tax Increment financing plan
modification and the tax increment financing district modification; and
WHEREAS, The City of Stillwater has Informed the members of the Local
School Board of the Independent School DIstrict i 834 and the Board of
Comml~rs of Washington County of the fiscal and economic Implications of
the proposed tax Increment financing district modification and invited said School
Board members and County Commissioners to the public hearing.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF STILLWATER that the City ColDlcll of the City of Stillwater, Minnesota
does hereby approve the tax Increment financing plan modification and the
creation of a tax Increment financing district modification as described In said tax
Increment financing plan and finds as per Section Z of the tax Increment plan
modification.
1. That 71.4 percent of the parcels In the district are occupied by
bUlldlnp, streets, utWtles or other Improvements and 35 percent of the bulldlngs
are structurally substandard and an additional 33 percent of the buUdIngs are found
to require substantial renovation or clearance In order to remove such existing
COndltlOll8 asl Inadequate street layout, incompatible U888 or land 1188
relatlolllhlps, overcrowding of bulldlngs on the land, exceBBlve dweDlng unit
density, obeolete bulldlngs not suitable for Improvement or conversion, or other
Identified hazards to health, safety and general well-being of the community; and
n
1
-.
.
.
111I1
(';
("\
('\
2. That the proposed redevelopment would not reasonably be expected
to occur solely througt1 private Investment within the reasonably forseeable future
and, therefore, the use of tax Increment Is deemed necessary; and
3. That the PIannlng Commission has reviewed the redevelopment
propollals and that the tax Increment financing plan modification conforms to the
general plan for the development of the municipality as a whole; and
4. That the redevelopment proposaIlnvolves a substantial commitment
of private Investment and In conJlDlction with tax Increments as Identlfted In the
tax Increment tlDanetng plan wlll afford maxlmum opportunity, consistent with
sound needs of the City for the redevelopment of the project by private enterprise.
Adopted by the City CouncU this 1st day of
Published -- October 7, 1985
ATl'EST:
~r/~~
City Clerk
2
1,llIlli
II
II
I
rr-l
I ~
I ,; I