90-49
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CITY OF CHAHHASSEN
CARVER AND HENNEPIN COUNTIES, MINNESOTA
RESOLUTION
Date
April 23, 1990
90-49
Resolution No.
Motion By
Boyt
Seconded By
Dim1er
RESOLUTION APPROVING MODIFICATION NO. 10 TO
THE TAX INCREMENT FINANCING PLAN FOR THE
CHANHASSEN DOWNTOWN REDEVELOPMENT PROJECT
BE IT RESOLVED By the City Council of the City of Chanhassen, Minnesota
as follows:
Section 1. Recitals.
1.01. The Housing and Redevelopment Authority in and for the City of
Chanhassen (Authority) and the City Council of the City of Chanhassen (City)
approved a redevelopment project for the downtown Chanhassen area (Project) and
adopted a redevelopment plan and tax increment financing plan (Plan) for same on
November 29, 1977, and December 19, 1977, respectively.
1.02. Due to changes in the focus of the Plan and alterations in the
boundaries of the Project, the Plan has been the subject of nine modifications since
its adoption in 1977.
1.03. Changes in the nature of the public and private improvements to be
constructed in the Project has prompted the need for another modification to the
Plan.
1.04. In response to these changes, the Authority has authorized the
preparation of a modified Plan, which is contained in a document entitled "Tax
Increment Financing Plan for Downtown Chanhassen Redevelopment Area, City of
Chanhassen Modification No. 10," dated April 23, 1990, and now on file with the
city clerk.
1.05. In accordance with Minnesota Statutues Section 469.174 through
469.179 (TIF Act), the modified Plan was referred to the Chanhassen planning
commission which on April 18, 1990, found that it conforms to and is not in conflict
with the general plan for redevelopment of the City as a whole.
1.06. The Authority on April 19, 1990, approved the modified Plan for the
Project and referred it to the city council for public hearing and consideration as
provided by the TIF Act.
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1.07. Copies of the modified Plan have been forwarded to Independent
School District No. 112 and Carver County along with a notice of a public hearing
to be held by the City as required by the TIF Act.
1.08. This Council has fully reviewed the contents of the modified Plan and
has this date conducted a public hearing thereon at which the views of all
interested persons were heard.
Section 2. Findings; Tax Increment Financing District.
2.01. It is found and determined that it is necessary and desirable to the
sound and orderly development and redevelopment of the Project and the City as a
whole, and for the protection and preservation of the public health, safety, and
general welfare, and the authority of the TIF Act be exercised by the Authority
and the City to provide public financial assistance within the Project.
2.02. It is further found and determined, and it is the reasoned opinion of
the Authority and the City, that the redevelopment proposed in the modified Plan
could not reasonably be expected to occur solely through private investment within
the reasonably foreseeable future and that therefore the use of tax increment
financing is necessary.
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2.03. The modified Plan conforms to the general plan for redevelopment of
the City as a whole.
2.04. The proposed public improvements to be financed largely through tax
increment financing are necessary to permit the City to realize the full potential
of the Project in terms of development intensity, employment opportunities and
tax base.
2.05. The modified Plan will afford maximum opportunity, consistent with
the sound needs of the City as a whole, for the redevelopment of the Project by
private enterprise.
2.06. Nothing contained herein constitutes an election on the part of the
Authority or City to proceed with the Project under Sections 469.174 through
469.178 of the TIF Act, except to the extent required by Section 469.179.
Section 3. Adoption of Modification; Filing.
3.01. The modified Plan is hereby approved and adopted. The modified Plan
incorporates by reference the original Plan and all subsequent amendments thereto,
except as the modified Plan explicitly or by reasonably necessary implication
conflicts with the original Plan or any of the first nine amendments thereto.
3.02. The geographic boundaries of the Project and the TIF District are not
affected by this modification and are as described in the Plan, as previously
modified.
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3.03. The Authority is requested to file a copy of the modified Plan with
the Minnesota commissioner of trade and economic development as required by the
TIF Act.
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3.04. The City may at the appropriate time take action to issue and sell its
general obligation bonds pursuant to the TIP Act to finance public redevelopment
costs identified in the modified Plan.
3.05. The city clerk is authorized and directed to transmit a certified copy
of this resolution to the Authority.
Passed this 2300 day of April, 1990, by the City Council of the City of
Chanhassen, Minnesota.
ATTEST:
DOnal4iort~~~~er
CH130-005
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