HomeMy WebLinkAbout3. Set Public Hearing on Tax Increment Finance District ModificationCITY OF ROSEMOUNT
DAKOTA COUNTY, MINNESOTA
RESOLUTION 1992-
A RESOLUT ON CALLING FOR A PUBLIC HEARING ON A PROPOSED
MODIFIC TION OF THE ROSEMOUNT REDEVELOPMENT PLAN AND
THE DEVELOP PROGRAM FOR DEVELOPMENT DISTRICT NO. 1 AND
A PROPOSED ECOND AMENDMENT TO THE TAX INCREMENT FINANCING
PLAN FOR AX INCREMENT FINANCING (ECONOMIC DEVELOPMENT)
DISTRICT NO. 1-1
WHEREAS, on May 1, 1979, the Housing and Redevelopment Authority
in and for the City of Rosemount (the "HRA") adopted a
Redevelopment Plan dated May 1, 1979 (the "Redevelopment Plan"),
pursuant to which the HRA determined to use tax increments to
finance certain redevelopment costs of a redevelopment project
located within an area of the City generally described as the
area bounded by 145th Street West on the north, Biscayne Avenue
on the east, CSAH 42 on the south, and Cambrian, Camero and
Camfield on the west (the "Redevelopment Project Area"); and
WHEREAS, on or about March 1990, the Economic Development
Authority of the City of Rosemount, Minnesota (the "EDA")
established Development District No. 1 (the "Development
District") and Tax Increment Financing (Economic Development)
District No. 1-1 the "Tax Increment District") and adopted a
Development Program and Tax Increment Financing Plan therefor;
WHEREAS, the City Council by resolution adopted on September 3,
1991, established the Rosemount Port Authority (the "Port
Authority") and, among other things, made the Port Authority the
administrator of Development District No. 1;
WHEREAS, the Port Authority has determined that it is necessary,
desirable, and expedient to modify the Redevelopment Plan and
Development Program and to ament the Tax Increment Financing
Plan for the Tax ncrement Financing District to authorize the
use of tax increments derived from the Redevelopment Project Area
and the Tax Increment District to finance certain eligible costs
associated with a proposed municipal ice arena to be constructed
within the Development District and the Redevelopment Project
Area, as modified
WHEREAS, the City Council of the City of Rosemount held a public
hearing on September 15, 1992, on the modification of the
Redevelopment Plan and Development Program and the Amendment of
the Tax Increment Financing Plan;
WHEREAS, the City deems it desirable to increase the amount of
the Bonded Indebt dness (as defined in the Redevelopment Plan) to
an amount not to xceed $3,500,000;
NOW, THEREFORE, BE
"Council") of the
follows:
RESOLUTION 1992 -
IT RESOLVED, by the City Council (the
:ity of Rosemount, Minnesota (the "City"), as
1. Public Hearing. This Council shall meet on October 22, 1992
at approximately 7:00 p.m., to hold a public hearing on the
proposed modification of the Redevelopment Plan and Development
Program and the Second Amendment of the Tax Increment Financing
Plan.
2. Notice of Hearing; Filing of Program and Plan. The City
Clerk is hereby authorized to cause a notice of the hearing,
substantially in the form attached hereto as Exhibit A, to be
published in the legal nespaper of the City, and to place a copy
of the modification to the Redevelopment Plan and Development
program and Second Amendment to the Tax Increment Financing Plan
on file in the Clerk's Office at City Hall and to make such
copies available for inspection by the public.
3. Transfer. The City hereby transfers all control, authority
and operation of the Redevelopment Project Area, Development
District and Tax Increment District to the Port Authority.
ADOPTED this 21St
ATTEST:
y of September, 1992.
Susan M. Walsh, City Clerk
Motion by:
Voted in favor:
Voted against:
E. B. McMenomy, Mayor
Seconded by:
2
NOTICE IS HEREBY G
the City of Rosemo
public hearing on
the Rosemount City
Street West, to co
Redevelopment Plan
for Development Di
Tax Increment Fina
(Economic Developm
1990.
RESOLUTION 1992 -
EXHIBIT A
CITY OF ROSEMOUNT
COUNTY OF DAKOTA
NOTICE OF PUBLIC HEARING
OVEN that the City Council (the "Council") of
int, Dakota County, Minnesota, will hold a
Chursday, October 22, 1992, at 7:00 p.m., at
Hall, in the Council Chamber at 2875 145th
asider the modification of the Rosemount
dated May 1, 1979, and the Development Program
Strict No. 1, and the Second Amendment of the
acing Plan for Tax Increment Financing
Dnt) District No. 1-1, both adopted in March of
A map indicating t e location of the Redevelopment Project Area,
as proposed to be odified, the Development District and Tax
Increment Financi q District No. 1-1 is set forth below.
A copy of the pro osed modifications and amendments will be on
file and availabl for public inspection at the office of the
City Clerk.
All interested persons may appear at the hearing and present
their views orally or in writing.
Dated the 21st days of September, 1992.
BY ORDER OF THE CITY COUNCIL
Susan M. Walsh, City Clerk
City of Rosemount
Dakota County, Minnesota
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AMENDED ( EXPANb-ED)_
1979 REDEV ELOPMENT
DISTRICT
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