HomeMy WebLinkAbout7. Downtown TIF District Modification IVOTICE OF PUBLIC HEA�tING � ...
CITY OF ROSEDIOUNT
COUNTY OF DAKOTA .
STATE OF M[NNESOTA
Rosemount Town Pages NOT[CE IS HEREBY GIVEN that tfie City Council of the
Ciry of Rosemount,County of Dakota,State of Minnuota, .
AFFIDAVIT OF PUBLICATION ���hold a public hearing on Tuesday,September 7.��9,az
- approximately 8:00 p.m. at the Rosemount City Councl
Chambcrs in the Rosemount City HaII,2875 145'"Street
Todd Heikkila, bein dlll SWOIII� on oath sa s that he is an authorized W�Rosomount,Minnaota,rclating ro the proposal of the i
g Y y Pon Authority to adopt the Modification to the Developmrnt
agent and employee of the publisl�er of the newspaper, known as The p�� fo� Developmrnt n�s�;�� xo. � �,a �n�
Modification to the Tax Incremrnt Financing Plan �
Rosemount Town Pages, and has full knowledge of the facts which are (collatively,the"Modifications")for the modification of the
stated below: Dow�ntown Tax Increment Financing District No. � (a
redevelopmrnt district),located within Dcvelopmrnt Dishict -
(A)The newspaper has complied with all of the requirements constitutins ho. �,pursuant to Minneso(a Statutes,Sections 469.001
qualif'ication as a le 1I IICWS a er $$ rovided b Minnesota Statues �r°"Bh 469.047;Section 469.08I3:and Sections 469.174 M
g P P � P y Modificati nIs are oUn'file and availabla for ublpc I�Sof��e
331A.02,331A.07 and other applicable laws,�s amended. • P x
at the office of the City Clak at Ciry Hall. -
(B)The printed ���Cg �;.� \� , �n ��
The boundaria of the Downrown Tax Incremrnt Financing
. District No. � are not being modified. Generally, the
substantive changes include Ihe authority to spend addidonal
tat incremrnts grnerated from the Downtown Tax Incremrnt
Finmicing District No.I by modifying the budget to[azilitau
which is attached, was cut from tl�e columns of said newspaper, and was �e purchaze of land and the installarion of public utilitics and
improvemrnts within the City of Rwemount. A map of
printed and published once each week for �� $l1CCeSS1Ve Developmrnt District No.i,and Downtown Tax Incremrnt
Financing District No.1 therein,is sct forth below. Subjeci
w eks; lt was first published on Friday, the __� _ ay Of to cenain limitations,ta�c incrcment from Downtown Tax
� 19 n' and was thereafter printed and published on Inaemrnt Financing District No.1 may be spent on eligible
every riday to and ineludinb Friday the day of �a"'�thintheboundariaofDevelopmentDisVictNo.I.
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� 19 ; and printed below is a eopy of the A���nterested persons may appear at the hearing and presrnt+ -
their views orally or prior ro the meeting in writing. '�
lower case alphabet from A to Z, both inclusive, which is hereby !
aclaiowled ed as bein tlie sve and kind of t e used in the com osition Dated this 24"day of August,��v9. ,
g g YP P s/Susan M.Walsh,City Clerk
and publicaaon of the notice: c�ty of Ro�mo���,Dakota Counry,Minnewta
,
Aurilinry nids nnd services nre avnilnble-Plense contnct
� Susnn Wnlsh rtt 31?-6J79(TDD�rumherJ no lnter thnn I
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CITY OF ROSEMOUNT
EXECUTIVE SUMMARY FOR ACTION
CITY COUNCIL MEETING DATE: September 7, 1999
AGENDA ITEM: Downtown TIF District Modification AGENDA SECTION:
Public Hearings
PREPARED BY: Dan Rogness, Community Development Director AGEr���� �� .
ATTACHMENTS: Resolution and Proposed Modification APPROVED BY:
The Rosemount Port Authority initiated an amendment process for the Downtown TIF District that would
allow the city to expend an additional $400,000 on property acquisition and commercial public improvements/
enhancements. Based on recent estimates,the city may have approximately$600,000-$700,000 to spend on
these categories by the end of the district(through the year 2000).
Of the proposed total expenditures of$800,000,the city has expended approximately $100,000 so far on
decorative lighting replacement(145th Street), landscaping (Hwy. 3) and a house acquisition(Burma Ave.).
A public hearing is required by the City Council to consider the proposed modification of the expenditure plan.
The attached resolution supports the budget modification. As of 9/O1/99, no comments have been received
from the School District or County Board regarding this proposal.
RECOMMENDED ACTION: MOTION to Adopt A Resolution Adopting the Modification to the
Development Program for Development District No. 1; and Adopting the Modification to the T�Increment
Financing Plan for the Downtown Tax Increment Financing District No. 1.
COUNCIL ACTION:
/
CITY OF ROSEMOUNT
DAKOTA COUNTY
STATE OF MINNESOTA
RESOLUTION NO.
RESOLUTION ADOPTING THE MODIFICATION TO THE DEVELOPMENT
PROGRAM FOR DEVELOPMENT DISTRICT NO. 1; AND ADOPTING THE
MODIFICATION TO THE TAX INCREMENT FINANCING PLAN FOR THE �
DOWNTOWN TAX INCREMENT FINANCING DISTRICT NO. 1.
BE IT RESOLVED by the City Council(the "Council")of the City of Rosemount,Minnesota(the
"City"), as follows:
Section 1. Recitals.
1.01. The Housing and Redevelopment Authority of the City has heretofore established
Development District No. 1 and adopted the Development Program therefor and has established the
Downtown Tax Increment Financing District No. 1 and adopted the Tax Increment Financing Plan therefor
and has transferred the Project to the Port Authority of the City. It has been proposed that the City adopt the
Modification to the Development Program for Development District No. 1 and adopt the Modification to
the Tax Increment Financing Plan (collectively, the "Modifications") for the Downtown Tax Increment
Financing District No. 1 ("Downtown'TIF District No. 1"); all pursuant to and in conformity with applicable
law, including Minnesota Statutes, Sections 469.001 through 469.047, Section 469.0813, and Sections
469.174 to 469.179, all inclusive, as amended, all as reflected in the Modifications, and presented for the
Council's consideration. Generally, the substantive changes include the authority to spend additional tax
increments generated from the Downtown Tax Increment Financing District No. 1 by modifying the budget
to facilitate the purchase of land and the installation of public utilities and improvements within the City of
Rosemount
1.02. The Council has investigated the facts relating to the Modifications.
1.03. The City and the Port Authority have performed all actions required by law to be performed
prior to the adoption and approval of the proposed Modifications,including,but not limited to,notification
of Dakota County and School District No. 196 having taxing jurisdiction over the property to be included
in the Downtown TIF District No. 1, a review of and written comment on the Modifications by the City
Planning Commission, and the holding of a public hearing upon published notice as required by law.
Section 2. Findings for the A�proval of the Modifications
2.01. T'he Council is not modifying the boundaries of the Downtown Tax Increment Financing
District No. 1 but is only modifying the Tax Increment Financing Plan to clarify the budget and to modify
the budget to allow for the spending of additional tax increments to acquire land.
2.02. The Council hereby reaffums the previous findings made with respect to the Downtown Tax
Increment Financing District No. 1 and its previous actions made with respect to the budget for the
Downtown Tax Increment Financing District No. 1.
2.03 The Council reaffirms that this is a pre-1979 district,and that the Council intends that the
Downtown Tax Increment Financing District No. 1 will remain a pre-1979 district,pursuant to 469.179,as
the City is not electing for the Downtown Tax Increment Financing District No. 1 to be governed by the Tax '
RESOLUTION 1999-
Increment Financing Act.
2.04. The Council further finds that the proposed development would not occur solely through
private investment within the reasonably foreseeable future and,that the increased market value on the site
that could reasonably be expected to occur without the use of tax increment financing would be less than the
increase in the market value estimated to result from the proposed development after subtracting the present
value of the projected tax increments for the maximum duration of the Downtown Tax Increment Financing
District No. 1 permitted by the Tax Increment Financing Plan;that the Modifications conform to the general
plan for the development or redevelopment of the City as a whole; and that the Modifications will afford
maximum opportunity consistent with the sound needs of the City as a whole, for the development of the
Downtown Tax Increment Financing District No. 1 by private enterprise.
Section 3. Public Purpose.
3.01. The Council hereby finds that the Modifications, are intended and,in the judgment of this
Council,the effect of such actions will be,to provide an impetus for development in the public purpose and
accomplish certain objectives as specified in the Modifications,which are hereby incorporated herein.
Section 4. Apnroval of the Modifications: Filins.
4.01. The Modification to the Development Program for Development District No. 1 and the
Modification to the Development Program for powntown Tax Increment Financing District No. 1 are hereby
approved, and shall be placed on file in the office of the Community Development Director. Approval of
the Modifications 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 Modifications with the State Department of
Revenue and the Dakota 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 Modifications and for this purpose to negotiate,draft,prepare and
present to this Council for its consideration all further plans,resolutions,documents and contracts necessary
for this purpose.
ADOPTED this 7th day of September, 1999,by the City Council of the City of Rosemount.
Cathy Busho,Mayor
ATTEST:
Susan M. Walsh, City Clerk
Motion by: Seconded by:
Voted in favor:
Voted against:
Member absent:
�'J�II 1 1 LI ILLI\J Vl 1 I�JJV�i�I 1 LJ ' �� -
/.
�ty hereby modi�es the Plan to identify the f�llo�ving pa.rce( number for acquisition: 34-6�500-]00-03
Uses af Funds
Estimated costs a5sociated wit}i tlie Downtown Tax Increment Financing Distri�t No. 1 are subjeet to change. The
cost of all activities to be considered for tax increment financing is estimatzd to be$796,0�3.
(As ll�iodified Deeember 2, I997j
7he estimate of costs is niodifed to add $�00,000 for land acquisition, la�i�iscapin�/lighting,sidewaiks/curbs an.d
gutter,snd utility line�urial for a ne�v total of$13,119,918. � �
(A.r Madified Septen:ber 9,1999)
The estimate of costs is modiFied tu add 5800,000 for]and acquisition,landscaping/lighting,sidetivall:s/curbs
and gutter,and utility line burial foe-�t new total of S13,�19,9X$.
Previous Modifcation of l�odification of As Modified �
em Budvet Dea 2. 1997 Sept.7, 1999 �Tew Total�
Sources of�'unds -
Tax increment revenue $1,619,107 �1,619,X07
Bond Pro�eeds $�,76�,000 5�,76�,040
Real estate sales $102,300 5102,300
Rena'lease revenuE $7,�50;000 . S7,9�0,000
Tuial Sources of Funds �I4.436.407 S14.�36-407
Uses ofFunds
Land/Building acquisition $1,323,673 �100,000 5100,400 $1,5�3,673
Site improvements/preparation costs $2�,27� $d SO SZ7�27S
Installation ofpublic utilities 5�,000 S100,000 S100,040 $2��.aa�
Parking facilities $10,000 $0 SO 510,000
Streets and side�valks 50 �100,000 5100,000 �200,000
Soeial,recreational, conference $3,8G8,200 �100:000 S100,000 54,068,200
facilities or similar pubiic .
improv�ments(landscaping/liDhtin�)
Bond principal payments �4,765,000 $0 SO a=�,765,000
Bond interest paynaents $2,371,4�0 $0 �0 $2,371,470
Administrative costs $143,000 $0 SO S143,000
Le�al/bond costs $206,300 S4 SO �206,300
T�tal Uses of Funds �12,719.918 �t05 0,000 40S 0•000 �13,�19,918
Ciiy of Rosemourit biodification to Developmcnt Districc No•1 and�he Down�o�vn Tax Incrcmcnt Fin,u,cing Dislrict No.I �'=
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TAX INCREMENT FINANCING (TIF) REPORT --- 1999
City of Rosemount, Minnesota
The following information is a summary from the 9999 Status Report of the
Dakota County Treasuer-Auditor:
• Rosemount's percent of captured TIF to total tax capacity = 3.18%; this
compares to an average of 5.02% for all 10 reported cities, including the
Dakota County HRA.
• The highest percent of captured TIF is reported from South St. Paul at
11.43%, and the lowest percent is reported from Eagan at 0.31%. Six of
the ten cities have a higher percent than Rosemount.
• Rosemount's captured TIF tax capacity value was $362,947. The highest
capacity value in TIF is reported from Burnsville at $3,508,226, and the
lowest value is reported from Eagan at $205,374; the average for all 10
reported cities is $1,156,800.
• Rosemount received a total tax increment of$467,784 from 4 TIF Districts
as follows: (1) Downtown = $302,866; (2) Knutson Recyle = $18,807; (3)
Business Park = $130,745; and (4) Endres = $15,366. The Knutson TIF
District has been requested to be decertified effective starting in 1999.
• Total tax increment dollars received in Rosemount decreased from
$497,828 in 1998 to $467,784 in 1999 (-6%). If the Knutson District was
removed, the 1999 TIF amount would be $448,977 for a 10% decrease
from 1998.
• Total tax increment dollars paid from all jurisdictions in the county showed
an increase of 7.7% from 1998-99. The tax capacity captured in TIF
districts increased as well, although the total tax capacity value in Dakota
County increased at a lower rate of 4.9%.
• The Dakota County HRA has 9 TIF Districts that provide nearly $2 million
in tax increment income in 1999 (approx. 12% of total income).
/
CITY OF ROSEMOUNT
EXECUTIVE SUMMARY FOR ACTION
CITY COIJNCIL MEETING DATE: September 7, 1999
AGENDA ITEM: Vacation of Easements and Right-of-Way for AGENDA SECTION:
Rosemount Business Park Old Business
PREPARED BY: Dan Rogness, Community Development Director AGEN����� �� �
ATTACHMENTS: Resolution and Maps APPROVED BY•
• / .
The public hearing for this item was held by the City Council on August 17, 1999. Action was tabled in order
to give the Port Authority an opportunity to review the proposed lots west of Cannon Equipment. The draft
final plat revision shows a 8.9-acre lot for another business and an adj oining outlot that could be combined
with further development to the west. The authority will discuss this item on this same evening at 6:00 p.m.
prior to the council's approval of the vacation request.
RECOiVIMENDED ACTION: MOTION to Adopt a Resolution Causing Easement and Right-of-Way
Vacation for Rosemount Business Park First Addition.
COUNCIL ACTION:
' CITY OF ROSEMOUNT
� DAKOTA COUNTY,NIINNESOTA
RESOLUTION 1999 -
A RESOLUTION CAUSING EASEMENT VACATION AND
A RIGHT-OF-`VAY VACATION FOR THE
ROSEMOUNT BUSINESS PARK FIRST ADDITION
WHEREAS, a public hearing was scheduled and held on the August 17, 1999 after due
publication as required by law, and all interested persons were given an opportunity to be heard;
and
WHEREAS, a new plat, Rosemount Business Park Second Addition,will replace Rosemount
Business park First Addition; and
WHEREAS,it appears that it will be for the best interest of the City of Rosemount to vacate
said easement and right-of-way as it does not serve a public purpose.
NOW THEREFORE BE IT RESOLVED,that the following easement and right-of-way is
hereby vacated,to-wit:
That certain easement dedicated for public use as a drainage and utility easement according to the
recorded plat of ROSEMOITNT BUSINESS PARK FIRST ADDITION being 10.00 feet wide on
each side of the line common to Lot 1 and Lot 2, Block 1, said plat of ROSEMOUNT
BUSINESS PARK FIRST ADDITION, said vacation of the easement begin_ning on the easterly
line of the westerly 10.00 feet of said Lots 1 and 2, and ending on the westerly line of the easterly
10.00 feet of said Lots 1 and 2.
AND, Street,Drainage, and Utility Easement Vacation:
That part of Boulder Avenue as dedicated on and according to the recorded plat of
ROSEMOUNT BUSINESS PARK FIRST ADDITION,Dakota County,Minnesota, described as
follows:
Commencing at the southwest corner of Lot 2,Block 1, said plat of ROSEMOtJNT BUSINESS
PARK FIRST ADDITION; thence southeasterly 105.77 feet along the southwesterly line of said
Lot 2 and along the arc of a non-tangential curve concave to the southwest having a central angle
of 7 degrees 43 minutes 11 seconds and a radius of 785.00 feet, the long chord of which has an
assumed bearing of South 66 degrees 38 minutes 57 seconds East, 105.69 feet to the point of
begiiuiing; thence continuing southeasterly 323.58 feet along said southwesterly line of Lot 2 and
along the southwesterly line of Lot 3, said Block 1, also being along the arc of a compound curve
concave to the southwest having a central angle of 31 degrees 25 minutes 25 seconds and a
radius of 590.00 feet, to the south line of the plat of ROSEMOUNT BUSINESS PARK FIlZST
: ADDITION; thence South 89 degrees 26 minutes 13 seconds West along said south line a
distance of 95.80 feet to the easterly line of Outlot A said plat of ROSEMOUNT BUSINESS ,
PARK FIRST ADDITION; thence northwesterly 230.52 feet along said easterly line of Outlot A,
and along the arc of a non-tangential curve concave to the southwest having a central angle of 25
RESOLUTION 199�
degrees 53 minutes 53 seconds and a radius of 510.00 feet,the long chord of which bears North
49 degrees 50 minutes 25 seconds West,228.57 feet; thence North 27 degrees 12 minutes 39
seconds East, 80.00 feet to the point of beginning.
And the drainage and utility easements as dedicated on and according to the recorded
plat of ROSEMOUNT BUSINESS PARK FIRST ADDITION,Dakota County,Minnesota, �
which abut the above described area on the northeast and southwest.
BE IT FURTHER RESOLVED,that the City Attorney shall prepare a notice of completion of
the proceedings and necessary Quit Claim Deeds which shall contain the name of the City,
identification of the vacation and a statement of the time of completion thereof, and shall present
the same to the County Auditor and then file a copy with the Register of Deeds.
ADOPTED this 7th day of September, 1999.
Cathy Busho,Mayor
ATTEST:
Susan M. Walsh, City Clerk
Motion by: Seconded by:
Voted in favor:
Voted aga.inst:
Member Not Present:
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