HomeMy WebLinkAbout8.a. Discussion of Amended Tax Increment Finance PlanCITY OF ROSEMOUNT
EXECUTIVE SUMMARY FOR ACTION
PORT AUTHORITY COMMISSION MEETING DATE: AUGUST 18, 1992
AGENDA ITEM:
AGENDA SECTION:
AMENDED TAX INCREMENT FINANCE PLAN
NEW BUSINESS
PREPARED BY:
AGENDA NO.
JOHN MILLER, ECONOMIC DEVELOPMENT COORDINATOR
6. A.
ATTACHMENTS: AMENDED TIF PLAN, CORRESPONDENCE,
AP Y:
RESOLUTION AUTHORIZING PUBLIC HEARING
Mary Dyrseth, the Port Authority's bond counsel, has prepared an amendment
to the City's 1979 redevelopment plan. This "Amended Tax Increment Finance
Plan" expands the area where tax increment revenue can be spent to include
the armory/community center site.
If the plan amendment is eventually adopted by the Port Authority and,City
Council, it will make tax increment revenue available for the
armory/community center. This includes the purchase and relocation of the
highway -oriented businesses along T.H. 3
An item will appear on the September 15 Port Authority agenda where
approval of the plan will be considered
The City Council met on August it and approved a resolution setting the
Public Hearing date (to be held by the City Council) for September 15.
RECOMMENDED ACTION:
None. Informational item only.
PORT AUTHORITY ACTION:
WAITER'S DIRECT DIAL NUMBER
(612) 223-6625
LAW OFFICES
BRIGGS AND MORGAN
PROFESSIONAL ASSOCIATION
2200 FIRST NATIONAL BANK BUILDING
SAINT PAUL, MINNESOTA 55101
TELEPHONE (612) 223 - 6600
FACSIMILE (612) 223-64450
August 12, 1992
Mr. Stephan Jilk
City Administrator
Mr. John Miller
Economic Development Director
City of Rosemount
2875 145th Street West
Rosemount, MN 55068
MINNEAPOLIS OFFICE
2400 IDS CENTER
MINNEAPOLIS, MINNESOTA 55402
TELEPHONE 1412) 334-8400
FACSIMILE 16I2) 334-86W
Re: City of Rosemount - Public Hearing on Tax Increment Amendments
Dear Steve and John:
Enclosed are five copies of the resolution calling for a public hearing on
Tuesday, September 15.
Please note that the third "resolved" clause of this resolution transfers
control of the Redevelopment Project Area, Development District and Tax
Increment Financing District to the Port Authority. I included this language
because the resolution creating the Port Authority only transferred control of the
Development District to the Port Authority.
The notice of public hearing, which is attached to the resolution as Exhibit
A, must be published at least 10 days prior to the public hearing. Since the local
paper is published on Friday, the notice should be published in the September 4
publication. A map indicating the location of the Redevelopment Project Area,
the Development District and the Tax Increment Financing District must be
included with the notice in the publication. Unless I hear from you to the
contrary, I will assume that you will take care of publishing the notice and the
map.
I will copy you on the letters that I will send out on Friday to the school
districts and the county.
BRIGGS AND MORGAN
Mr. Stephan Jilk
Mr. John Miller
August 12, 1992
Page Two
I will also send you, in advance of the September 15 public hearing,
resolutions for consideration by the Port Authority and the City Council
approving the amendments.
If you have any questions, please give me a call.
MMD:mw
Enc.
EXTRACT OF MINUTES OF A MEETING OF THE
CITY COUNCIL OF THE CITY OF
ROSEMOUNT, MINNESOTA
HELD: August 11, 1992
Pursuant to due call and notice thereof, a regular meeting
of the City Council of the City of Rosemount, Dakota County,
Minnesota, was duly called and held at the City Hall on Tuesday,
the 11th day of August, 1992 at p.m. for the purpose of
calling a public hearing on the 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.
The following Councilmembers were present:
and the following were absent:
Councilmember introduced the
following resolution and moved its adoption:
RESOLUTION CALLING FOR A PUBLIC HEARING ON A PROPOSED
MODIFICATION OF THE ROSEMOUNT REDEVELOPMENT PLAN AND THE
DEVELOPMENT PROGRAM FOR DEVELOPMENT DISTRICT NO. 1
AND A PROPOSED AMENDMENT TO THE TAX INCREMENT
FINANCING PLAN FOR TAX 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, CSAH42 on the south, and Cambrian, Camero and
Camfield on the west (the "Redevelopment Project Area")
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)
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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 amend the Tax Increment
Financing Plan for the Tax Increment 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;
NOW, THEREFORE, BE IT RESOLVED by the City Council (the
"Council") of the City of Rosemount, Minnesota (the "City"), as
follows:
1. Public Hearing. This Council shall meet on Tuesday,
September 15, 1992, at approximately 8:0o p.m., to hold a public
hearing on the proposed modification of the Redevelopment Plan
and Development Program and the 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 newspaper of the City, and to place a copy
of the modification to the Redevelopment Plan and Development
Program and 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.
The motion for the adoption of the foregoing resolution was
duly seconded by Councilmember and upon
vote being taken thereon, the following voted in favor
and the following voted against the same:
Whereupon said resolution was declared duly passed and
adopted by the City Council of the City of Rosemount, Minnesota.
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2
STATE OF MINNESOTA )
SS.
COUNTY OF DAKOTA )
I, the undersigned, being the duly qualified and acting City
Clerk of the City of Rosemount, Minnesota, DO HEREBY CERTIFY that
the attached resolution is a true and correct copy of an extract
of minutes of a meeting of the City Council of the City of
Rosemount, Minnesota, duly called and held on August 11, 1992, as
such minutes relate to the calling of a public hearing on the
proposed modification of a Redevelopment Plan and Development
Program and the amendment of a tax increment financing plan.
City Clerk
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3
EXHIBIT A
CITY OF ROSEMOUNT
COUNTY OF DAKOTA
NOTICE OF PUBLIC HEARING
NOTICE IS HEREBY GIVEN that the City Council (the "Council")
of the City of Rosemount, Dakota County, Minnesota, will hold a
public hearing on Tuesday, September 15, 1992, at 8:00 p.m., at
the Rosemount City Hall, 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 the Tax Increment Financing Plan for Tax Increment
Financing (Economic Development) District No. 1-1, both adopted
in March of 1990.
A map indicating the location of the Redevelopment Project
Area, as proposed to be 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 available 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: August 11, 1992.
BY ORDER OF THE CITY COUNCIL
Is/ Susan M. Walsh
City Clerk
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