HomeMy WebLinkAbout8033 (Res.)
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Councilmember Kimble
resolution, the reading of which
consent, and moved its adoption:
introduced the following
was dispensed with by unanimous
CITY OF STILLWATER
COUNTY OF WASHINGTON
STATE OF MINNESOTA
RESOLUTION NO. 8033
RESOLUTION MODIFYING THE DEVELOPMENT PROGRAM
FOR DEVELOPMENT DISTRICT NO. 1 AND THE TAX
INCREMENT FINANCING PLANS FOR TAX INCREMENT
FINANCING DISTRICTS NO. 1 THROUGH NO.4,
LOCATED THEREIN, TO REFLECT INCREASED PROJECT
COSTS AND THE IMPLEMENTATION OF A MASTER
PROJECT CONCEPT.
BE IT RESOLVED by the City Council (the .Council.) of
the City of stillwater, Minnesota (the .cityW), as follows:
section 1. Recitals.
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1.01. It has been proposed that the city modify the
Development Program for Development District No. 1 and the Tax
Increment Financing Plans for Tax Increment Financing Districts
No. 1 through No.4, located within Development District NO.1, to
reflect increased project costs and the implementation of a master
project concept, all pursuant to and in accordance with Minnesota
statutes, Sections 469.124 to 469.1345, inclusive, as amended, and
Sections 469.174 to 469.179, inclusive, as amended.
1.02. The Council has investigated the facts and has
caused to be prepared a Modified Development Program (the .Pro-
gram.) for Development District No. 1 and the Modified Tax Incre-
ment Financing Plans (collectively, the .Plans.) for Tax Increment
Financing Districts No. 1 through NO.4, implementing a master
project concept and defining more precisely the increased project
costs to be included in Development District No.1.
1.03. The City has performed all actions required by
law to be performed prior to the modification of the Program and
the Plans, including, but not limited to, notification of
Washington County and School District No. 834 having taxing juris-
diction over the property included in Tax Increment Financing
Districts No. 1 through No.4, a review by the City Planning
Commission of the proposed Program and Plans and the holding of a
public hearing upon published and mailed notice, as required by
law.
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Section 2. Findings for the Modification of the Tax Incre-
ment Financing Plans for Tax Increment Financing Districts No.1
through No.4.
2.01. The Council hereby finds that the modification of
the Plans is intended and, in the judgment of this Council, its
effect will be, to provide an impetus for commercial, industrial
and residential development in the City, to increase employment,
and otherwise promote certain public purposes and accomplish
certain objectives as specified in the Plans.
2.02. The Council further finds that the proposed
development, in the opinion of the Council, would not occur solely
through private investment within the reasonably foreseeable
future and, therefore, the use of tax increment financing is
deemed necessary; that the Plans conform to the general plan for
the development or redevelopment of the City as a whole; and that
the Plans will afford maximum opportunity consistent.with the
sound needs of the City as a whole, for the development of Devel-
opment District No. 1 by private enterprise.
2.03. The Council further finds, declares and deter-
mines that the City made the above findings stated in Section 2
and has set forth the reasons and supporting facts for each deter-
mination in writing, attached hereto as Exhibit A.
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Section 3. A roval of the Modified Develo ment Pro am and
Modified Tax Increment Finane ng Plans.
3.01. The Program and Plans are herby approved and
adopted and shall be placed on file in the office of the Clerk.
3.02. The City staff of the City, the City's advisors
and ~egal counsel are authorized and directed to proceed with the
implementation of the Program and Plans and for this purpose to
negotiate, draft, prepare and present to this Council for its
consideration all further plans, resolutions, documents and con-
tracts necessary for this purpose.
was duly
and upon
thereof:
The motion for the adoption of the foregoinq
seconded by Councilmember Bodlovick
vote being taken thereon, the following voted
resolution
in favor
,
All present.
and the following voted against the same: None
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r Dated: February 21, 1989.
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ATTEST:
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cle~k- -/-----yr-
(SEAL)
1:U:
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Mayor
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