HomeMy WebLinkAbout7. Modification of Rosemount Development Plan of 1979, Modification of Development Program, District #1, Amendment of Tax Increment Financing PlanCITY COUNCIL MEETING D.
CITY OF ROSEMOUNT
KECUTIVE SUMMARY FOR ACTION
: September 15, 1992
AGENDA ITEM:
Public Hearing
g -
AGENDA
SECTION:
Modification
of Rosemount
Redevelopment Plan
Public
Hearing
PREPARED BY:
Stephan JIlk
AGENDA
ITEM#
ATTACHMENTS:
Draft Document
APP
Resolution
On August 11, 1992 the City Council adopted Resolution # 199 87. This
Resolution called for a Public hearing for 9 - 15 - 92 to consider the
modification to the Rosemount Redevelopment Plan. This plan, originally
adopted in May of 1979, allowed for the use of tax increment funds to
conduct certain activities` in area, designated in the original' plan for
those purposes known as "redevelopment" activities.
The modification now 'under -consideration will allow the city, through the
auspices of the Rosemount Port Authority, to conduct those activities
necessary for the construction of the Rosemount Community Center, the Arena
and the relocation and acquisition of the existing business along
Highway #3.
The modification calls for the expansion of the "Redevelopment Project
Area" established in 1979 to encompass the entire Municipal Development
District #1 established in 1990. This "Development District" did include
the Armory / Community Center property along with the businesses on Highway
#3. In order for the Port Authority to issue debt and utilize tax
increment dollars on'these projects it is necessary to modify the plan to
include the site in the Rosemount Redevelopment Plan area.
On Monday evening the Rosemount Port Authority will consider action to
recommend this same action. Action by the Port Authority and the City,
Council is necessary prior to expenditure of funds for these activities.
RECOMMENDED ACTION: Motion
to adopt A RESOLUTION APPROVING MODIFICATION
OF THE ROSEMOUNT REDEVELOPMENT
PLAN AND THE DEVELOPMENT' PROGRAM' FOR
DEVELOPMENT DISTRICT NO.
1, AND THE AMENDMENT OF THE TAX INCREMENT
FINANCING PLAN FOR TAX
INCREMENT FINANCING (ECONOMIC DEVELOPMENT)
DISTRICT NO. 1-1.
COUNCIL ACTION:
CITY OF ROSEMOUNT
DAKOTA COUNTY, MINNESOTA
RESOLUTION 1992 -
RESOLUTION APPROVING MODIFICATION OF
THE RO EMOUNT REDEVELOPMENT PLAN AND THE
VELOPMWT PROGRAM FOR DEVELOPMENT DISTRICT
NO1 1, AND THE AMENDMENT OF THE
TAC INCREMENT FINANCING PLAN FOR
TAX INCREMENT FINANCING
(ECONOMIC DEVELOPMENT) DISTRICT NO. 1-1
BE IT RESOLVED by the City Council of the City of Rosemount,
Minnesota (the "City") as follows:
Section 1.
1.01. The Ro
asked the City Cou
Redevelopment Plan
modification to th
No. 1, and an amen
Tax Increment Fina
No. 1-1, both of w
which modification
the Redevelopment
Plan and authorize
from the Redevelop
Financing District
municipal ice aren
the Redevelopment
1.02. The Au
law to be performe
and amendments inc
Dakota County and
917, which have to
Redevelopment Proj
consultation with
the City approve t
holding of a publi
required by law.
Section 2.
District No. 1.
emount Port Authority (the "Authority") has
cil to approve a modification to the Rosemount
originally adopted on May 1, 1979, a
Development Program for Development District
ment to the tax increment financing plan for
cing District (Economic Development) District
ich were originally adopted in March 1990,
and amendments, among other things, enlarge
roject Area, as defined in the Redevelopment
the expenditure of tax increments generated
ent Project Area and the Tax Increment
to finance a portion of the costs of a
to be located in the Development District and
roject area, as enlarged.
hority has performed all actions required by
prior to the adoption of the modifications
uding, but not limited to, notification of
ndependent School District Nos. 196, 199 and
ing jurisdiction over the property in the
ct Area and Tax Increment Financing District,
is planning commission, and has requested that
e modifications and amendment following the
hearing upon published and mailed notice as
The City Counc
Redevelopment Plan
District No. 1 are
Council, the effect
development in the
Redevelopment Plan
Section 3. F
Financing Plan.
it hereby finds that the modification of the
and the Development Program for Development
intended and, in the judgment of the City
will be, to provide an impetus for commercial
City, to promote certain public purposes and
and Development Program.
3.01. The City Council hereby ratifies the findings
heretofore made inconnection with the establishment of the Tax
Increment FinancingDistrict as an economic development district.
3.02. The Ci
development, in th
solely through pri
foreseeable future
financing is deeme
Plan, as amended,
development or red
Tax Increment Fina
opportunity consis
whole for developm
Section 4.
4.01. The Mo
and the Modificati
District No. 1 and
Plan for Tax Incre
No. 1-1 in the for
approved.
4.02. The st
City's and Authori
and directed to pr
and amended Redeve
Increment Financin
draft, prepare and
consideration any
contracts necessar
y Council further finds that (a) the proposed
opinion of the City Council, would not occur
-ate investment within the reasonably
and, therefore, the use of tax increment
necessary; (b) the Tax Increment Financing
conforms to the general plan for the
:velopment of the City as a whole; and (c) the
.cing Plan, as amended, will afford maximum
ent with the sound needs of .the City as a
!nt by private enterprise.
ification to the Rosemount Redevelopment Plan,
n of the Development Program for Development
the Amendment of the Tax Increment Financing
ent Financing (Economic Development) District
s on file with the Port Authority are hereby
off of the City, and the Authority and the
.y's advisors and legal counsel are authorized
)ceed with the implementation of the modified
.opment Plan, Development Program and Tax
I Plan and for this purpose to negotiate,
present to the City Council for its
.urther plans, resolutions, documents and
r for this purpose.
2
MODIFICATION OF ROSEMOUNT
REDEVELOPMENT PLAN
ORIGINALLY ADOPTED MAY 1, 1979
MODIFICATION ADOPTED: September 15, 1992
This document was drafted by: BRIGGS AND MORGAN
PROFESSIONAL ASSOCIATION
2200 First National Bank
Building
St. Paul, Minnesota 55101
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TABLE OF CONTENTS
ARTICLE I - BACKGROUND AND MODIFICATION OF
ROS,EMOUNT REDEVELOPMENT PROJECT AREA . . . . .
Page
1
ARTICLE II -
DEFINITIONS
. . . . . . . . . . . . . . . . . .
2
ARTICLE III
- STATEMENT
OF PUBLIC PURPOSE AND AUTHORITY . . .
4
Section
3.01
Statement of Need and Public Purpose
4
Section
3.021r
Statutory Authority . . . . . . . . . . .
5
Section
3.03
Statement of Development Objectives . . .
5
ARTICLE IV -
THE 'PAX
INCREMENT FINANCING PLAN
6
Section
4.011.
Statement of Redevelopment Plan. . . . .
6
Section
4.02,.
Parcels to be Included in Tax Increment
Financing District . . . . . . . . . . .
6
Section
4.031,.
Property to be Acquired . . . . . . . . .
6
Section
4.04.
Development Activity in the
Redevelopment Project for which
Contracts Have Been Signed . . . . . .
Section 4.051. Other Specific Development Expected to
Occur Within The Redevelopment Project
Section 4.06',,. Estimated Cost of Redevelopment Project .
Section 4.071. Estimated Amount of Bonded Indebtedness .
Section 4.08. Public Costs; Sources of Payment . . .
Section 4.09,. Original Tax Capacity . . . . . . . .
Section 4.10'1. Estimated Tax Capacity and Computation
of Tax Increment . . . . . . .
Section 4.11. Type of Tax Increment Financing
District . . . . . . . . . . .
Section 4.12. Duration of Tax Increment Financing
District . . . . . . . . . . . . . . . .
Section 4.13��,. Estimated Impact of Tax Increment
Financing. . . . . . . . . . . . . .
Section 4.141. Studies and Analyses . . . . . . . .
Section 4.15. Use of Tax Increment . . . . .
Section 4.16. Modifications of Tax Increment Financing
Districts . . . . . . . . .
Section 4.111. Limitation on Administrative Expenses
Section 4.18.. Excess Tax Increments . . . . . . . .
Section 4.19. Administration of Tax Increment
Financing Districts . . . . . .
Section 4.20. Annual Disclosure Requirements . . . .
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6
6
7
7
7
7
8
8
8
8
8
9
10
10
10
EXHIBIT A -
EXHIBIT B
EXHIBIT C -
EXHIBIT D -
EXHIBIT E -
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N
I
RIPTION OF ROSEMOUNT REDEVELOPMENT
ECT AREA AS ORIGINALLY ADOPTED
L DESCRIPTION
EL IDENTIFICATION NUMBERS
VELOPMENT PLAN
L DESCRIPTION OF PROPERTY TO BE ACQUIRED
ARTICLE I
BACKGROUND AND MODIFICATION OF
The Housing and Redevelopment Authority in and for the City
of Rosemount (the "HRA") has heretofore adopted the Rosemount
Redevelopment Plan dated May 1, 1979, copy of which is attached
hereto as Exhibiit D (the "Redevelopment Plan") pursuant to which
it elected to use tax increment financing to finance all or a
portion of the costs of the Rosemount Redevelopment Project. A
narrative descriIPtion of the boundaries of the Redevelopment
Project Area, as originally adopted is attached hereto as Exhibit
A.
The Rosemount Port Authority, as successor in interest to
the HRA, has determined that it is necessary and desirable to
enlarge the Redd Ivelopment Project Area to make it coterminous
with the boundaries of Municipal Development District No. 1.
Therefore, the Redevelopment Plan is hereby amended to enlarge
the Redevelopmenjt Project Area to include the land within
Development Dist rict No. 1, which is legally described on Exhibit
B hereto.
Minnesota Statutes, Section 469.179, subdivision 2 provides,
in part, that i� additional activity is undertaken within a tax
increment distrct created prior to August 1, 1979, the
provisions of t�e Tax Increment Financing Act must be complied
with as they relate to the new activity. Therefore, the
Authority has prepared the following tax increment financing plan
for the Rosemount Redevelopment Project.
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ARTICLE II
DEFINITIONS
The terms d'fined below have, for purposes of this Tax
Increment Financng Plan, the meanings herein specified, unless
the context specifically requires otherwise:
"Authority"Imeans the Rosemount Port Authority.
"Authority aw" means Minnesota Statutes, Sections 469.048
to 469.068.
"Bond" means any tax-exempt or taxable bonds issued by the
City or Authoritand payable in whole or in part from Tax
Increments to fi ance the Public Costs, and any obligations
issued to refundlsuch bonds.
"City" mean
"City Counc
"County" me
the City of Rosemount.
" means the City Council of the City.
Dakota County, Minnesota.
"Environmental Controls" means federal, state or local laws,
statutes, rules, regulations or orders governing matters of
protection of theenvironment as the same pertain or apply to the
Redevelopment Prject.
"Governing Body" means the duly elected City Council.
"HRA" means the Housing and Redevelopment Authority in and
for the City of Rosemount.
"HRA Law" mans Minnesota Statutes, Sections 469.001 to
469.047
"Land Use Regulations" means all federal, state and local
laws, rules, regulations, ordinances and plans relating to or
governing the use or development of the Redevelopment Project,
including but not limited to platting, zoning and building code
laws, regulations and ordinances, but excluding Environmental
Controls.
"Public Costs" means all legally permissible costs incurred
or to be incurred by or on behalf the Authority in carrying out
the Redevelopment Plan, including but not limited to: (a) the
costs of the Redevelopment Activities set forth in the
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2
Redevelopment Plan as originally adopted; (b) all capital and
administrative cuts incurred in connection with the acquisition,
relocation, cons ruction and equipping of a municipal ice arena;
(c) costs of administering the Redevelopment Project; and (d)
debt service payments on any obligations issued to finance Public
Costs authorized by the Redevelopment Plan and this Tax Increment
Financing Plan.
"Redevelopment Project" means the Rosemount Redevelopment
Project Area, as modified, the boundaries of which are described
on the attached (Exhibits A and B.
"Redevelopment Plan" means the Redevelopment Plan for the
Redevelopment Project, dated May 1, 1979, as herein modified, as
the same may hereafter, from time to time, be amended or
supplemented.
"State" means the State of Minnesota.
"Tax Increment Financing District" means the Rosemount
Redevelopment Prjoject, as originally established on May 1, 1979,
pursuant to Minnesota Statutes, Section 462.585, the legal
description of which is attached as Exhibit A.
"Tax Increment Financing Act" means Minnesota Statutes,
1978, Section 4,2.585 and Minnesota Statutes, 1988, Sections
469.174 through ',469.179, both inclusive, as amended and
supplemented from time to time.
"Tax Incr
Financing Plan
adopted by the
the City on Se
time, be amend
"Tax Incre
Tax Increment F
223515
ent Financing Plan" means this Tax Increment
or the Tax Increment Financing District initially
uthority on September 15, 1992, and approved by
ember 15, 1992, as the same may, from time to
or supplemented.
ts" means the tax increments derived from the
ncing District.
3
STAT]
Section 3.0:
of 1979, the Cit;
of Commissioners
and for the City
was a need for t}
designed to encoi
development and :
underutilized an(
provide additions
City and the sur:
City, the County
and 917 (collect
them to better u -
public services,
Specifically, th,
the HRA 'determin,
Redevelopment Pr
to a variety of
property, inadeq
excessive proper
and soil correct
the property; al
investment; that
adequate employm
the tax base and
District, the Co
therefore, that
its authority un
a program design
commercial devel
in the Rosemount
accomplish the p
While prog
Redevelopment P
is desirable.
competitive, a
Rosemount Redev
additional publ
opportunities.
private investor
preventing dete
values.
223515
ARTICLE III
OF PUBLIC PURPOSE AND AUTHORITY
Statement of Need and Public Purpose. In May
Council of the City of Rosemount and the Board
of the Housing and Redevelopment Authority in
of Rosemount (the "HRA") determined that there
e Authority to undertake certain activities
rage, ensure and facilitate commercial
edevelopment by the private sector of
unused land located within the City in order to
1 employment opportunities for residents of the
ounding area, to improve the tax base of the
and Independent School District Nos. 196, 199
vely, the "School District") thereby enabling
ilize public facilities and provide needed
and to improve the general economy of the City.
City Council and the Board of Commissioners of
:d that the property within the Rosemount
,ject Area was either underutilized or unused due
'actors, including fragmented ownership of the
tate and multiple zoning of the property,
.y cost comprising costs of clearance, grading
.on, and inadequate public improvements to serve
of which had resulted in a lack of private
as a result, the property was not providing
:nt opportunities, and was not contributing to
general economy of the City, the School
inty and the State to its full potential; and,
.t was necessary for the Authority to exercise
ter the HRA Law to develop, implement and finance
:d to encourage, ensure and facilitate the
)pment and redevelopment of the property located
Redevelopment Project area, to further and
iblic purposes specified in this paragraph.
ss has been made since creation of the
ject Area, the continued development of the area
order to protect past investments and remain
dification to the Redevelopment Plan for the
opment Project needs to be adopted, to provide
investment to bolster employment and recreation
he public investment program will encourage
t and the use of underutilized land, while
oration and stabilizing and improving property
4
The develops
Financing Plan f(
solely through p;,
Tax Increment Fii
the Redevelopmen,
afford maximum o)
the City as a wh+
property located
sent proposed through this Tax Increment
�r the Redevelopment Project area would not occur
-ivate investment in the foreseeable future; the
ancing Plan proposed herein is consistent with
Plan; and the Tax Increment Financing Plan will
iportunity, consistent with the sound needs of
ile, for the development or redevelopment of the
in the Redevelopment Area by private enterprise.
The welfare',of the City, the County and the State of
Minnesota requires active promotion, attraction, encouragement
and development Of economically sound industry and commerce by
the City and theAuthority.
Section 3.0;
1979, the effect.
HRA established
the Redevelopmen-
addition, the HR
contemplated and
462.585. The Au,
intends to under,
heretofore conte;
of Minnesota Sta
must, with regar
the Redevelopmen
the provisions o
the Authority ha
Authority and th
Tax Increment Fi
which provides f
the cost of addi
undertaken in th
which are specif
Increment Financ
. Statutory Authority. Prior to August 1,
ve date of the Tax Increment Financing Act, the
he Rosemount Redevelopment Project and adopted
Plan therefor pursuant to the HRA Law. In
utilized tax increment financing.as
authorized by Minnesota Statutes, 1978, Section
:hority, as successor in interest to the HRA,
.ake additional activities which were not
iplated. Therefore, pursuant to the requirements
.utes, Section 469.179, subd. 2, the Authority
I to the additional activity to be undertaken in
Project, with certain exceptions, conform to
'the Tax Increment.Financing Act. Therefore,
upon the making of certain findings by the
City, and with the City's approval, adopted the
lancing Plan set forth in Article IV hereof,
)r the use of tax increment financing to finance
:ional public activities and improvements to be
Redevelopment Project Area, as modified and
_ed in the Redevelopment Plan and the Tax
.na Plan.
Section 3.013. Statement of Development Objectives. The
development objectives are set forth in the Redevelopment Plan.
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5
ARTICLE IV
THE TAX INCREMENT FINANCING PLAN
Section 4.61: Statement of Redevelopment Plan. The
statement of the Redevelopment Plan for the Redevelopment Project
is set forth inl,the Redevelopment Plan.
Section 4.62. Parcels to be Included in Tax Increment
Financing District. The Redevelopment Project as originally
adopted and as legally described on Exhibit A constitutes the Tax
Increment District. It includes the parcels bearing the parcel
identification numbers set forth on the attached Exhibit C.
Section 4.63. Property to be Acquired. The Authority may
acquire for itslor the City's use or may convey to any private
developer any or all of the parcels of property located within
the Redevelopment Project, as amended, including.but not limited
to the land described in Exhibit E attached hereto.
Section 4.
Prosect for whi
been signed at
construction co
construction of
center.
4. Development Activity in tne_xeaevelopmenz
h Contracts Have Been Signed. No contracts have
his time. The City anticipates executing a
tract or contracts in the near future for the
a municipal ice arena, armory and community
Section 445. Other Specific Development Expected to Occur
Within The Redehzelogment Project. The following projects are
proposed to beundertaken in the Redevelopment Project.
A. The construction of a municipal ice arena and a
multi-purpose community center and state armory.
Section 4.106. Estimated Cost of Redevelopment Proiect. The
estimated total cost of the new activities to be undertaken in
the Redevelopment Project is $2,850,000. An estimate of the
costs are as follows:
A. Acquisition of Land
and Relocation Expenses $ 400,000
B. Construction and Equipping of
Ice Arena 2,300,000
C. Issuance Expenses (including Bond
issuance Premium and Underwriter's
Discount 100,000
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6
D. Contingency $ 50,000
,TOTAL $ 2,850,000
The costsll',set forth above are estimates and the amounts
allocated to any item may be reallocated among any of the other
items set forth above, provided that the total principal amount
of the costs for the items specified will not exceed $2,500,000.
Section 4107. Estimated Amount of Bonded Indebtedness. It
is anticipatedlthat Bonds in a principal amount not exceeding
$2,500,000 will be issued to finance a portion of the estimated
Public Costs of the Redevelopment Project. Any balance of the
Public Costs will be paid from sources described in Section 4.08
hereof.
Section 4108. Public Costs; Sources of Payment. The public
moneys which may be used to pay the Public Costs of the
Redevelopment Project are the proceeds of the Bonds, Tax
Increments, gross or net revenues of the municipal ice arena, ad
valorem property taxes, tax increments derived from Tax Increment
Financing District No. 1-1, or other moneys legally available and
appropriated for the purpose in the event the foregoing are not
sufficient at any time, and other legally available sources of
revenue which the Authority or City may in their sole discretion
appropriate for this purpose.
Section 4',.09. Oriainal Tax Capacity. The "original tax
capacity" of all taxable property in the Tax Increment Financing
District as last certified for taxes payable in 1992 is $186,687.
Section 4'',.10. Estimated Tax Capacity and Computation of Tax
Increment. Ea',ch year the County Auditor will continue to measure
the amount of ',increase or decrease in the total tax capacity of
the Tax Increment Financing District to calculate the Tax
Increments payable to the Authority. In any year in which there
is an increase, in total tax capacity valuation in the Tax
Increment Financing District above the original tax capacity, Tax
Increments will be payable to the Authority. In any year in
which the total tax capacity valuation in the Tax Increment
Financing District declines below the original tax capacity, no
tax capacity valuation will be captured and no tax increment will
be payable.
The captured tax capacity is expected to annually
approximate $246,161. The Authority determines that 100% of the
Tax Increments resulting from the Tax Increment Financing
District shall, if necessary, be used for the payment of Public
223515
7
Costs of the Redeve
Redevelopment Plan
ent Plan in accordance with the
Tax Increment Financing Plan.
Section 4.11. (Type of Tax Increment rinancinQ ulsLrlc%-.
The Tax Increment Financing District was originally established
in connection with the establishment of the Redevelopment Project
on May 1, 1979, pursuant to Minnesota Statutes 1978, Section
462.585 and is therefore not designated as a specific type of Tax
Increment Financing,District.
Section 4.12. JDuration of Tax Increment Financinct District.
The Tax Increment Financing Act allows tax increment financing
districts created prior to August 1, 1979, to remain in existence
until April 1, 2001; and under certain conditions, August 1,
2009. It is anticipated that the Tax Increment District will
terminate and the A thority will no longer collect Tax Increments
from the Tax Increment Financing District on the earlier of (i)
the date all tax increment Bonds issued prior to March 1, 1990
are fully discharged, or (ii) April 1, 2001.
Section 4.13. Estimated Impact of Tax Increment Financing.
This tax increment financing plan is being adopted for a Tax
Increment Financing,District that was originally established
prior to 1979. Theipurpose of this tax increment financing plan
is to expand the scope of activity within the Tax Increment
Financing District.'', It does not create or add property to the
Tax Increment Financing District nor does it materially expand
the duration of the Tax Increment District. Therefore, there is
no impact on the affected taxing jurisdictions by the adoption of
this tax incrementlfinancing plan.
Section 4.14.
Statutes, Section
and analyses used t
would not occur bui
be identified. Th(
determination that
Authority, would n(
private investment
therefore, the use
file with the City
Section 4.15.
determines that it
from the Tax Increi
1. To
Bonds.
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Studies and Analyses. Pursuant to Minnesota
69.175, subdivision 1(7), the specific studies
.o make the determination that the development
for the use of Tax Increment Financing must
studies and analyses used to make the
the proposed development in the opinion of the
)t reasonably be expected to occur through
within the reasonably foreseeable future,
of tax increment is deemed necessary are on
Use of Tax Increment. The Authority hereby
will use 100% of the Tax Increments resulting
lent Financing District as follows:
Ly principal and interest on the Tax Increment
8
2. To finance or otherwise pay Public Costs of the
Redevelopment Project.
3. To finance or otherwise pay premiums for insurance
or other security guarantying the payment of Tax Increment
Bonds or obligations issued under Minnesota Statutes 462C.
4. To acc�ulate or maintain a reserve securing the
payment when duelof the principal and interest on Tax
Increment Bonds br bond issued pursuant to Minnesota
Statutes, Chapter 4620.
5. To finance or otherwise pay Public Costs of the
Redevelopment Project.
These revenues s':,hall not be used to circumvent levy
limitations applicable to the City nor for other purposes
prohibited by Section 469.176, Subdivision 4 of the Tax Increment
Financing Act.
Section 4.16. 1
Districts. In accorc
469.175, Subdivision
geographic area of t]
of bonded indebtedne:
to increase the amour
on the Tax Increment
Increment Financing
of interest on the d
of the captured asse
increase in total es
additional property
approved upon the no
and findings require
Plan.
Section 4.17.
accordance with Minr
14 and Minnesota Stz
administrative exper
other than amounts F
to contractors or of
including architects
connected with the I
the district, reloci
for persons residinc
amounts used to pay
discount bonds issu+
tive expenses inclu,
223515
odifications of Tax Increment Financina
ance with Minnesota Statutes, Section
4, any reduction or enlargement of the
e Tax Increment District, increase in amount
s to be incurred, including a determination
t of capitalized interest on debt to be paid
Bonds over the amount shown in this. Tax
lan, or to increase or decrease the amount
bt to be capitalized, increase the portion
sed value to be retained by the Authority,
.imated Public Costs or designation of
.o be acquired by the Authority shall be
;ice and after the discussion, public hearing
I for approval of the Tax Increment Financing
Limitation on Administrative Expenses. In
esota Statutes, Section 469.174, Subdivision
Itutes, Section 469.176, Subdivision 3,
,ses means all expenditures of an authority
laid for the purchase of land or amounts paid
lhers providing materials and services,
�ral and engineering services, directly
'hysical development of the real property in
tion benefits paid to or services provided
or businesses located in the district or
interest on, fund a reserve for, or sell at a
ed pursuant to Section 469.178. Administra-
des amounts paid for services provided by bond
9
counsel, fiscal consultants, and planning or economic development
consultants. No Ta Increments shall be used to pay any
administrative expenses which exceed ten percent of the total
expenditures authorized by the Tax Increment Financing Plan and
the Redevelopment Phan.
Section 4.18.
Statutes, Section 4
the Tax Increments
Costs authorized by
Financing Plan, inc
levy as provided in
Subdivision 3, the
any of the followin
1. prepa
2. dis
Excess Tax Increments. Pursuant to Minnesota
9.176, Subdivision 2, in any year in which
xceed the amount necessary to pay the Public
the Redevelopment Plan and Tax Increment
uding the amount necessary to cancel any tax
Minnesota Statutes, Section 475.61,
.uthority shall use the excess amount to do
the outstanding Tax Increment Bonds;
rge the pledge of Tax Increments thereto;
3. pay into an escrow account dedicated to the payment
of the Tax Increment Bonds;
4. return the excess to the County Auditor for
redistribution),to the respective taxing jurisdictions in
proportion to heir mill rate.
In lieu thereof, the Authority may choose to modify the.Tax
Increment Financing Plan as described in Article III, in order to
finance additional (Public Costs of the Development Program.
Section 4.19. Administration of Tax Increment Financing
Districts. Administration of the Tax Increment Financing
District will be handled by the City Administrator.
The Tax Incremlents received as a result of increases in the
tax capacity of the Tax Increment Financing District will be
maintained in a special account separate from all other municipal
accounts and expended only upon municipal activities identified
in the Redevelopment Plan and Tax Increment Financing Plan.
Section 4.20.
Minnesota Statutes
must file with the
financial report f
report shall also
and county board.
(1) ma:
public funds
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Annual Disclosure Requirements. Pursuant to
Section 469.175, Subdivision 5, the Authority
State Auditor on or before July 1, an annual
r the Tax Increment Financing District. The
e filed by the Authority with the school board
The report shall:
full disclosure of the sources and uses of
the Tax Increment Financing District;
10
(2) permit comparison and reconciliation with the
Authority's accounts and financial reports;
(3) permit auditing of the funds expended on behalf of
the Tax Increment Financing District, or that is funded in
part or whole through the use of a development account
funded with tax increments from other Tax Increment
Financing Districts or with other public money; and
(4) be consistent with generally accepted accounting
principles.
In addition, the report shall contain the following infor-
mation:
(1) the griginal taxable value of the Tax Increment
Financing District;
(2) the captured of the Tax Increment Financing
District, inclulding the amount of any gross tax capacity
value shared with other tax districts;
(3) the utstanding principal amount of Tax Increment
Bonds issued o other loans incurred to finance project
costs in the T x Increment Financing District;
(4) for the reporting period and for the duration of
the Tax Increment Financing District, the amount budgeted
under the Tax Increment Financing Plan, and the actual
amount expended for, at least, the following categories:
(a) `acquisition of land and buildings through
condemnation or purchase;
(b)
(c)
public it
(d)
cost of
(5) For
of the proper
developer;
(6) The
those reporte
223515
site improvements or preparation costs;
installation of public utilities or other
rovements; and
administrative costs, including the allocated
e Authority;
roperties sold to developers, the total cost
to the Authority and the price paid by the
mount of tax-exempt obligations, other than
under clause (3), that were issued on behalf
11
of private entities for facilities located in the Tax
Increment Finan�ing District.
223515
12
EXHIBIT A
B. Description of the Redevelopment Project
1 1. A'urruiirc Descriptiu]t of the 111-0jGct B01111rlur}'
Beginning at a point fornned by the intersection of the northerly right -of -++ay line of Dakota County
State Aid Highway 42 and the soNthwest corner of Lot 66 of Marian Terrace;
northerly along the westerly Lot Line of said Lot 66 of Marian Terrace extended to z point
Thence no )
formed by the southxest corner cf Lot 12 Marian Terrace Replat 2nd Addition;
Thence, Easterly along the southerly lot line of said Lot 12 Marian Terrace Replat 2nd Addition con
lot line of Lot 9 Marian Terrace Replat 2nd Addition to the southeast corner
tinuino ?long the southerly
of Lot 9 of Marian Terrace Replat Ind Addition;
Thence northerly on the �East Lot Line of Lot 9 Marian Terrace Replat 2nd Addition to the South 'est
1 corner of Lot 13 Marian Terrace Replat;
therly lot line of said Lot 13 extended to its intersection wit. the
Thence soutnea>terl) along the Sou
%vesterly lot kine of Lot 1.4 lvlari4n Terrace Replat;
Thence southerly lot, south, %est corner of said Lot 14 N1zrian Terrace Replat;
Thence
southeasterly along the', southerly lot line of Lot 14 Marian Terrace Replat to the southeast
corner of said Lot 14 Marian T race Replat;
I lot lines of Lots i4 through 21 Marian Terrace Replat to the north-
northerl ' along the easterly
Thence )
erstcrly corner of Lot 27 Marin Terrace Rep'
Thence westerly along the soutiherly right -of %+zy line of Lower 147th Street 1'r est to z point formed by
the extension of the westerly ljne of Lot 61 Auditors Subdivision No. 1
Thence northerly along the +v�sterly line of Lot 61 Auditors Subdivision No. 1 extended to the south-
east corner of Lot 4, Auditors',Subdivision No. 27;
Thence westerly along the sou'',therly Lot Line of said Lot 4, Auditors Subdivision. No. 27 extended to
the west right-of-way line of Cameo Avenue;
right-of-way line to its intersection with the southeast corner of Lot 1
Thence northerly along said west,
1 Block 2 T.T. Conlcy Additiol;
f
Thence easterly across Cameo Avenue. to the southwest corner of Lot 13 School Addition;
Redevelop rent Plan
Rost:rnount
Page 2
N,,ay 1, 1979
Thence northerly along easterly right-of-way line of Cameo Avenue to the: northwest cm ncr of Lot 12
School Addition;
Thencc ccs:crly along the northerlly lot line of Lot 12 Schnol Addition to the northwest corner of said
Lot 12;
Thence northerly on the east line!lof the School Addition to the northwest corner of Lot 20, Auditors
Subdivision No. 1 ;
Thence easterly along the northerly lot line of Lot 20, Auditors Subdivision No. 1 to the northeast
corner of said Lot 20, auditors Subdivision No. 1 ;
Thence easterly to the northeast corner of Lot 23, Auditors Subdivision No. 1 ;
Thence easterly alo,.0 aline exte�nnesota
ded from said northeast corner of Lot 23 Auditors Subdivision No. 1
to easterly right-of-way line of P.iTrunk Highway no. 3 (South Robert Trail);
Thence nort erly z'.ong said easterly right-0f-v.•zy line to a point formed by extending the northerly
lot line of Lot 8, School Addition;
Thence easterly along said exten4ed northerly lot line of Lot 8, School Addition to a point formed by
is intersect;on e centerIi,7e of Burma .wenUe extended;
Thence soutneriy to the nortnerl'Y right -0f -way line of 143th-S reet 1''-esz; -_-
Thence easterly along s ---;;d northerly, right-0t-•.vay line to the easterly r.ght-of-w2v I;ne of B15c2yne
Avenue;
Thence southerly along said easterly right-of-way line to the northerly right-of-way line of Dakota
County State Aid Highway 42;
Thence westerly along said northerly right-of-way line to point of beainnino.
Redcvelopmrnt Plan
Rosu,mount
Page 3
way 1, 1979
/ AUG 12 '92 12:36 CITY OF
/ APPENDIX A
DESCRIPTION OF PROPE.
The boundaries of the Devi
EXHIBIT B
Develoornent District No. 1
District are as follows:
I*
P.
Begin at a point formed by the intersection of the center line of 160th Street and
Western right of way fine ofChippendale Avenue;
Thence north along the western right of way line of Chippendale Avenue to the
right of way of Dakota County State Aid Highway 42 (GSAH 42);
Thence east along the northern right of way Gne of Dakota CSAH 42 to the westerly lot line
of Lot 66 of Marian Terrace extended to a point formed by the southwest corner of Lot 2,
Marian Terrace Replat 2nd addition; 1
Thence east along the southerly lot Eno of said Lot 12, Marian Terrace Replat 2nd
continuing along the southerly lot line of Lot 9, Marian Terrace Replat 2nd Addition;
Thence north on the east lot line of Lot 9, Marian Terrace Replat 2nd. Addition to
southwest corner of Lot 13, (Marian Terrace Repiat;
Thence southeasterly along the southerly lot line of said Lot 13 extended to its
With the westerly lot line of Lot 14, Marian Terrace Replat;
Thence south to the southwjest comer of said Lot 14, Marian Terrace Replat;
Thence southeasterly alongl, the southerly lot line of Lot 14, Marian Terrace Replat to
Southeast cornerof said lot;! 14, Marian Terraci., Replat;
Thence north along the easterly lot lines of Lots 14 through 27, Marian Terrace Replat to
the southeast corner of said lot 14, Marian Terrace Replat;
Thence west along the southerly right of way line of Lower 147th Street west to a
formed by the extension of the westerly Eno of Lot 61, Auditor's Subdivision Number 1;
Thence north along the we$terty line of Lot 61, Auditor's Subdivision Number 1 extendec
the southeast corner of Lot 14, Auditor's Subdivision Number 27;
Thence west along the southerly lot line of said Lot 4, Auditor's Subdivision Number
extended to the west right df way -line of Cameo Avenue;
Thence north along said w�st right of way line of Cameo Avenue to Its Intersection with
southeast corner of Lot 1, Mock 2, T.T. Conley Addition;
Thence east across Cameo I'', Avenue to the southwest corner of Tot 13, School Addition;
Thence north along easterl� right of way line of Cameo Avenue to the northwest cornet
Lot 12, School Addition;
Proposed March 1990 Page
to
of
CIT-, 1
Thence east along the north�rly lot line of Lot 12, School Addition to the northwest corner
of said Lot 12;
Thence north on the east line of the School Addition to the northwest corner of Lot 20,
Auditor's Subdivision Number 1;
Thence east along the northerly lot line of Lot 20, Auditor's Subdivision Number 1 to the
northeast corner of said Lot 20, Auditor's Subdivision Number 1;
Thence east to the northeast corner of Lot 23, Auditor's Subdivision Number 1;
Thence east along a line extended from the northeast corner of Lot 23, Auditor's Sub-
division Number 1 to Westerly right of way line of State Trunk Highway Number 3 (STH 3);
Thence north along STH 3 Ito a point 1.5 rods south of the south line of the Southwest
Quarter of Section 20;
Thence west 515 feet along' a line 1.5 rods south of an parallel to the south line of the
Southwest Quarter of Sectio 20;
Tnence north 884.26 feet to a point 729.09 feet west of the western right of way of Dodd
Boulevard;
Thence east 729.09 feet parallel to the south nine of the Southwest Quarter of Section 20 to
the western right of way line of Dodd Boulevard;
Thence south along the we,'sterly right of way line of Dodd Boulevard to the westerly right of
way line of STH 3;
Thence north along the
westerly right of way line of STH 3 to the northern right of way ling
of Dakota County Road Nulmber 38 (DC Rd 38);
Thence easterly along the northern right of way line of DC Rd 38 to the eastern right of way
line of Biscayne Avenue;
Thence south along the easterly right of way line of Biscayne Avenue to the southern right
of way line of 145th Street) (CSAR 42);
Thence east along the southern right of way line of 145th Street to the point at which 145th
Street and County Sate Aid Highway 42 intersect;
Thence southwest along the northwest right of way line of CSAH 42 to the easterly right of
way line of Biscayne Avenue;
Thence south along the rasteriy right of way line of Biscayne Avenue to a point formed by
the eastern right of way line of Biscayne Avenue and the center line of 160th Street;
Thence west along the center line of 160th Street to the point of beginning.
Proposed March 1990
0
Page 22
Pige 1 4
EXHIBIT
of
CAV
EXHIBIT "A" R.
SOLUTION 1979-H2
SUBDIVISION N.�.ME
PARCEL CODE
Auditors Subdivision
No. 1
34-03700-044-00
Auditors Subdivision
No. 1
34-03700-045-00
Auditors Subdivision
No. 1
34-03700-046-00
Auditors Subdivision
No. 1
34-03700-047-00
Auditors Subdivision
No. 1
34-03700-049-00
Auditors Subd0.vision
No. 1
34-03700-050-00
Auditors Subdivision
No. 1
34-03700-010-18
Auditors Subd'iivision
No. 1
34-03700-010-20
Auditors Subdivision
No. 1
34-03700-020-20
Auditors Subdivision
No. 1
34-03700-030-20
Auditors Subdivision
No. 1
34-03700-010-21
Auditors Subdlivision
No. 1
34-03700-010-22
:.uditors Subdivision
No.,1
34-03700-020-22
Auditors Subdivision
No. 1
34-03700-030-22
Auditors Subdi,
'I No. 1
34-03700-010-23
Auditors Subdivision
No. 1
3';-03700-010-29
Auditors Subdivision
No.1
34-03700-010-30
Auditors Subcivision.No.
1
34-03700-010-31
Auditors Subdivision
No. 1
34-03700-010-32
Auditors Subdivision
No. 1
34-03700-020-32
Auditors S bdivision_No.
1
34-03700-010-33
u
_editors Subdivision
No. 1
34-03700-010-34
Auditors Subdivision
No. 1
34-03700-010-35
Auditors Subdivision
No. 1
31-03700-010-36
Auditors Subivision
No. 1
34-03700-010-37
Auditors Subdivision
No. 1
34-03700-010-38
Auditors Subdivision
No. 1
34-03700-010-39
Auditors Subdivision
No. 1
34-03700-010-47
Auditors Subdivision
No. 1
34-03700-010-48
Auditors Subdivision
No. 1
34-03700-020-48
Auditors Subdivision
No. 1
34-03700-010-49
Audit6rs Subdivision
No. 1
34-03700-010-50
Auditors Subdivision
No. 1
34-03700-010-51
�. sbe 2 of 4
EXHIBIT
"A" RESOLUTION 1979-H2
(continued).
SUBDIVIS,ION
N *iE
PARCEL CODE
Auditor
Subdivision No. 1
34-03700-010-52
Auditors
Subdivision No. 1
34-03700-010-53
Auditors
Subdivision No. 1
34-03700-010-54
Auditor
Subdivision No. 1
34-03700-011-55
Auditor
Is Subdivision No. 1
34-03700-010-53
Subdivision NO. 1
34-03700-010-60
Auditors
Auditor'Is
Subdivision No. 1
34-03700-010-61
Avdito�-s
Subdivision No. 1
34-03700-020-61
,uditos
S bdivision No. 1
34-03700-030-61
Auditors
Subdivision No. 1
34-03700-040-61
1
=.udi-ods
Subdivis_on ;No. 1
34-03700-051-61
:.uditots-SubGivision
No. 1
34-03700-052-61
jAuditors
Subdivision No. 1
34-03700-010-62
=Subdivision
udltO—s
No. 1
34-03700-020-62
:.uditors
Subdivision•No:.1
34-03700-030-62
Auditolrs
Subdivision No. 1
34<03700-010-63
Audit
rs Subdivision'To. 1
34-03700-010-65
Audit
--s S°'bdivisioa No. 1
34-03700-020-65
Audit
S-bdivision No. 27
i5 -
34-03000-010-04
AuditQrs
Subdivision No. 27
34-03S00-130-14
Audit8rs
Subdivision No. 27
34-03500-140-14
Auditors
S bdivision No. 27
34-03300-150-14
Auditors
Sjbdivision No. 27
31-03500-200-14
Auditors
Subdivision No. 27
34-03000-210-14
Auditors
S°.:bdivision No. 27__
34-0300-010-15
Conley
Th.-as Addition
34-18200-160-03
34-18200-170-03
Conley
Th.:-aS Addition
I
34-47450-660-00
1
Marian
Terraces
34-64800-010-03
Rosemount
Village
g
134•-64S00-020-03
J
Rose.
ount Village
34-64500-030-03
Rose�r�ount
Village
Rose$
Village
oun c.
34-64500-070-03
1
Rose
01— Village
'
EXHIBIT "A",RESOLUTION 1979-H2 (continued)
SUBDIVISON ?AME
PARCEL CODE
Ros enount Vi112ge
34-64800-090-03
Rosemount V',11age
34-64800-091-03
Rosemount Village
34-64800-100-03
Rosemount V�llage
34-64600-130-03
Rosemount Village
34-64800-140-03
Rosemount Vlillage
34-64800-020-04
Rosemount Village
-
34-64800-030-04
Rosemount Village
34-64600-040-04
Rosemount %niilage-1
34-64800-070-04
Village
34-64800-071-04
Rosemount
Rot- e ount
illage
34-64800-011-05
Rosemount
�illage
34-64800-012-05
Rosemount
�village
illage
34-64800-020-05
Rosemount
34-64500-030-05
Rosemount
Village.
31- 64600-050-05
34:64;500-081-05
Rosemount
Village
Rosemount
iVillage
34-64800-062-05
Rosemount
iilla
34-64E500-020-06
Rosemount
Village
34-61500-050-06
Rosemount
Village
34-64800-060-06
Rosemount
'iVillage
34-64500-070-06.
RosemountliVillage
34-64500-011-07
Rosemount
Village
34-64500-012-07
Rosemount'Village
34-64500-020-87
Rose:aour:t
Village
34-64500-030-07
Rosemount'Village
34-64500-050-07
Rosemount''Village
34-64800-060-07
Rosemountl'Village
34-64800-070-07
Rose -mount',
Village
34-64800-090-07
Rosemount',Village
34-64S00-091-07
Rosemount
%Jillage
34=64500-110-07
Rosemounti
Village
34=64800-111-07
Rosemount'
Village
34 -64800 -130 -07 -
Rosemount
Village
34-64800-141-07
rase 4 of 4
EXH�BIT A RESOLUTION 1979-H2 (continued)
SUBDIVISION JCAIME PARCEL CODE
Rosemount Village 34-64300-142-07
1 School Addition 34-66500-131-00
J School Addition 34-66500-132-00
1 ,
1
EXHIBIT D
REDEVELOPMENT PLAN
on file with thje City Administrator.
223515
DES
Section 20, townsh
southwest 1/4, beg
way of highway #3,
of the south line,
seconds east, para
feet south, 73 deg
to the west right
feet to beginning.
Section 20, townsh
southwest 1/4, com
way of State Highw
north of the south
east;'on the west
on right of way 75
west, 123.80 feet
parallel to the hi
32 seconds east, 1
Section 20 TWN 115
Sth #3 & Line Parr
R/W 129 Ft to Beg
Hgwy R/V1 216.33 Ft
28S W on R/w 256 F
223515
EXHIBIT E
'PTION OF PROPERTY TO BE ACQUIRED
p 115, range 19, part of the south 1/2 of the
nning at the intersection with the right of
in a line parallel with and l & 1/2 rods north
west 130 feet, north 16 degrees, 0 meters, 28
lel with the right of way of highway 93.67
ees, 59 meters, 32 seconds east, 123.80 feet
f way of highway, southwest on right of way 54
(Tour dot)
p 115, range 19, part of the south 1/2 of the
encing at the intersection with the right of
y #3, in a line parallel with and 1 & 1/2 rods
line, north 16 degrees, 0 minutes, 28 seconds
ight of way 54 feet to beginning, continuing
feet north, 73 degrees, 59 minutes, 32 seconds
outh, 16 degrees, 0 minutes, 28 seconds west,
hway, 75 feet south at 73 degrees, 59 minutes,
3.80 feet to beginning. (Rich's Auto)
Range 19 Pt of S 1/2 of SW 1/4 Com Int W R/W
with & 1 1/2 RDS N of S Line N 16D OM 28S E on
1 73D 59M 32S W 123.80 FT N 16D OM 28S E Parr
E Parr S Line 130 Ft to W R/W Hgwy S 16D OM
to Beg (Monk)
shannon>::�.
Park
Elementary
Ct
Os C
+toicrouKr :=
prow
t 1i::...
>
a i ° 1a3�rd Sit .l�_:_�lLl7{
C 14 Uooar SCMCPL
a ...Way♦th — 14 X. ;
V
J 45th t L � < C •'
4�t — It •
a
t
Y
t �
t
�o.r.rr 1A7 rh 3 •:
O t 14 th t • �'^
=1 Uoo.r
> ; 143tr, St t o
> < < - LY 1' th t V
143 E
> a ■
• T g a i t 111t h i t • U
• u u u 149th It 14 E
-�U. 1 t V G
n St oo•r 149 th St Lower
CIAH 42
Lt St
• ��
t c
155th st
> Cornell 7,
Ct
<
'
st
. 3 Q tk : �
c tO or^•��Li Pett'
C V.
C
160th 5 c
t,t
AMENDED (EXPAND -ED
1979 REDEVELOPMENT
/ DISTRICT
T.I.F. DISTRIC NO.1-1
Farrington Independent
AFFIDAVIT .OF PUBLICATION
Diane Berge, being{ duly sworn, on oath says that she is an authorized
agent and employee bf the publisher of the newspaper, known as The
Farmington Independent , and has full knowledge of the facts which are
stated below:
(A) The newspaper hzs complied with all of the requirements constituting
qualification as a le al newspaper, as provided by Minnesota Statues
331A.02, 331A.07 and other, applicable laws, as amended.
(B) The printed
which is attached, was cut from the columns of said n wspaper, and was
printed and published once each week for / successive
we s; it was first) published on Thursday, the�I� day of
19 � and was t:`:ererfter printed a- d published on
every Thursday, to and including Thursday, the ___`day of
19 and printed belo•ri is a copy of the
lower case alphabet from A to Z; bot I inclusive, �,hich is hereby
acknowledged as being the size a ;d l:i::d c,- r.� useJ i:! Che composition
and publication of the nobcc:
Subsc 'bed and
Of r
19
Notary Public
AFFIDAVIT
By:
Title: Administrator for the Pu usher
32d
worn to before me on this day
-*- I -QM*W*^W*WV^W1W211
LG-£t'F '�'� 'u►uioJ �.'e
VVMUIW*llqnd AMC
110a -Vj ` .LINd
NOTICE ISHERED GIVEN that the
City Council (the "Council') of the City of
Rosemount, Dakota CounlN. Minnesota, will
hold a public,+'heating on Tuesday,
September 15, 1992, at 8:00 p.m., at the
Rosemount City Hall, in the Council
Chamber at 2;75 145th Street West, to
consider the modification of the Rosemount
Redevelopment Plan dated May 1, 1979,
and the Development Program for
Development District No. 1, and the
amendment of tete Tax Increment Financing
Plan for Ta Increment Financing
(Economic De lopment) District No. 1-1,
both adopted in darch of 1990.
A map indi4 ating the location of the
Redevelopment Project Area, as proposed to
be modified, Development District and
Tax Increment financing District No. 1-1 is
set forth below.
A copy of theproposed modifications and
amendments will be on file and available for
public inspecti n at the office of the City
Clerk.
All interest persons may appear at the
hearing and pr ent their views orally or in
writing.
Dated the 17 day of August, 1992.
PHONE (612) 423-4411
FAX (612) 423-5203
MODIFICATION
DEVELOPIV
AND THE
STATE OF N
COUNTY OF
CITY OF RO
Susan M. Walsh,
I am a United States
Minnesota.
On August 31, 1992
Street West, copies t
Rosemount Redevelc
Development Distric
Tax Increment Finar
of 1990.
Subscribed and
sword
(Pity of (Rosemount
2875 - 145th Street West, Rosemount, Minnesota MAYOR
Mailing Address: Edward B. McMenomy
P.O. Box 510, Rosemount, Minnesota 55068-0510 COUNCILMEMBERS
Sheila Klassen
James (Red) Staats
Harry Willcox
Dennis Wippermann
AFFIDAVIT OF POSTED HEARING NOTICE ADMINISTRATOR
OF THE ROSEMOUNT REDEVELOPMENT PLAN AND THE Stephan Jilk
ENT PROGRAM FOR DEVELOPMENT DISTRICT NO. 1
AMENDMENT OF THE TAX INCREMENT FINANCING
�ONOMIC DEVELOPMENT) DISTRICT NO. 1-1
30TA )
)TA ) ss.
UNT )
first duly sworn, deposes and says:
and the duly qualified Clerk of the City of Rosemount
acting on behalf of said City, I posted at the City Hall, 2875 145th
the attached notice of public hearing regarding modification of the
ment Plan dated May 1, 1979, and the Development Program for
No. 1, and the amendment of the Tax Increment Financing Plan for
ing (Economic Development) District No. 1-1, both adopted in March
Susab M. W�>ff
City Clerk
City of Rosemount
Dakota County, Minnesota
to before me this 91 �'fi day of August, 1992.
No Pub
5 .tea, CINDY DORNIDEN
NOTAR" PUELI�MINNESOTfi
DAI:OTA COUNTY
My comm. E)Vms Aug. 25, IM
>b
I6verylkings eomi.ng (Up gosemouvi
`= recvueC paow
PHONE (612) 423.4411
FAX (612) 423.5203
NOTICE. IS HERE]
the City of RoE
public hearing
the Rosemount
Street West, t(
Redevelopment ]
for Development
Increment Finai
Development) D:
eity of (Rosemount
2675 • 145th Street West, Rosemount,, Minnesota
MAYOR
Mailing Address:
Edward B. McMenomy
P.O. Box 510, Rosemount, Minnesota 55068-0510
COUNCILMEMBERS
Sheila Klassen
James (Red) Staats
Harry Willcox
Dennis Wippennann
NOTICE OF PUBLIC HEARING
ADMINISTRATOR
Stephan Jilk
Y GIVEN that the City Council (the "Council") of
emount, Dakota County, Minnesota, will hold a
on Tuesday, September 15, 1992, at 8:00 p.m., at
ity Hall, in the Council Chamber at 2875 145th
consider the modification of the Rosemount
lan dated May 1, 1979, and the Development Program
District No. 1, and the amendment of the Tax
cing Plan for Tax Increment Financing (Economic
strict No. 1-1, both adopted in March of 1990.
A map indicating the location of the Redevelopment Project Area,
as proposed toibe modified, the Development District and Tax
Increment Financing District No. 1-1 is set forth below.
A copy of the Proposed modifications and amendments will be on
file and availalble 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 17th
day of August, 1992.
BY ORDER OF THE CITY COUNCIL
S an M. WaZsh, City Clerk
City of Rosemount
Dakota County, Minnesota
11tings (Poming `UL1b gosemountll
t � •ecvUed oaru�
Park
El.m.ntary
lip
1 3 T at St
. s02gAdouwr.•:.'
•I i .y
}
ISI :.ti{.4 ~:...i•�; �.
.t'
id
Jrmorant << 143rt! ..�•.:�: < :::;:>-143:-st
U par 743rd 21 i'` SCMCpt
• way
� 45:h
L 4{t r it •
p 0 6 i 14{lA hl > Low■r 14 th
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160th St '••'(_ "'
AMENDED ( EXPANDED L
1979 REDEVELOPMENT
/ DISTRICT
T.I.F. DISTRICN0.1