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5. Redevelopment and Tax Increment Plan, Modification No. 9 0 - „ CITY OF 3 '-- , ,. 1 CHANHASSEN ,,,,, 690 COULTER DRIVE • P.O. BOX 147 • CHANHASSEN, MINNESOTA 55317 4. (612) 937-1900 • FAX (612) 937-5739 I MEMORANDUM * Note: Please bring your copy of the Tax TO: Don Ashworth, City Manager Increment Plan Mod. I No. 9. If you cannot FROM: Todd Gerhardt, Assistant City Manager locate your copy, � /'1 please call Karen. IDATE: November 30, 1989 CJ SUBJ: Public Hearing on the Redevelopment and Tax Increment Financing Plan, Modification No. 9 II At the November 19 , 1989 worksession, Council members received a I copy of the Redevelopment Plan outlining the proposed land acquisitions and public improvements (parking lots, roadways, etc. ) . At this meeting, the City Council did not discuss this issue in great length, but felt it was consistent with the City' s I overall development plans for the redevelopment district. However , state statute requires that the City must hold a public hearing on the plan in order to allow citizens an opportunity to I express their opinions regarding the plan. Both the Planning Commission and Housing and Redevelopment Authority have reviewed this document and found it consistent with their overall develop- ' ment plans as well as the Comprehensive Plan. Recommendation I Staff recommends the City Council adopt a resolution approving the Redevelopment and Tax Increment Financing Plan, Modification No. 9. Attachments 1 1. Resolution Approving Modification No, 9. 2. Planning Commission Memo. 3. Housing and Redevelopment Authority Memo. II 4. Notice of Public Hearing. 5. Memo from Don Ashworth dated November 9 , 1989. I 1 II n CITY OF CHANHASSEN CARVER AND HENNEPIN COUNTIES, MINNESOTA DATE: RESOLUTION NO: MOTION BY: SECONDED BY: ' A RESOLUTION APPROVING A MODIFIED TAX INCREMENT FINANCING PLAN FOR THE CHANHASSEN DOWNTOWN REDEVELOPMENT PROJECT (MODIFICATION NO. 9) 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 of Chanhassen (City) approved a Redevelopment Project (Project) and adopted a Redevel- ' opment Plan known as the Chanhassen Downtown Redevelopment Plan (Plan) in accordance with Minnesota Statutes Sections 462.411 through 462. 716 (Redevelopment Act) on November 29, 1977 and ' December 19, 1977, respectively. 1. 02. Due to changes in the focus of the Plan and the area ' included within the Project, the Plan has been the subject of eight modifications since its adoption in 1977. 1. 03. Changes in the nature of the public and private improve- ' ments to be constructed have prompted the need for another modification to the Plan. ' 1. 04. In response to these changes, the Authority authorized the preparation of a modified Tax Increment Financing Plan (TIF Plan) , pursuant to Minnesota Statutes Sections 469.174 through 469.179 (TIF Act) . The modified TIF Plan is contained in a docu- ment entitled "Modified Tax Increment Financing Plan, Chanhassen Downtown Redevelopment Project, Modification No. 9, City of Chanhassen, Minnesota" dated November, 1989. ' 1. 05. The TIF Plan was referred to the Chanhassen Planning Commission which on November 15, 1989 found that it conforms to ' and is not in conflict with the general plan for the development or redevelopment of the City as a whole. 1. 06. The Authority by resolution of November 16, 1989 ' approved the modified TIF Plan and referred it to the City Council for public hearing and consideration as provided by the TIF Act. 1. 07. Copies of the modified TIF Plan have been forwarded to Independent School District No. 112 and Carver County along with a notice of the public hearing as required by the TIF Act. I 1.08. The City Council has fully reviewed the contents of the modified TIF 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 area and the City as a whole, and for the protec- tion and preservation of the public health, safety, and general welfare, that the authority of the TIF Act be exercised by the Authority and the City to provide public financial assistance to the Project area. 2 .02. It is further found and determined, and it is the reasoned opinion of the Authority and the City, that the redevel- opment proposed by Empak, Country Suites Hotel and the Shopping Center Complex as well as public improvements including the down- town parking lot, Lake Drive and Market Boulevard 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. ' 2. 03. 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 area in terms of development intensity, employment opportunities and tax base. 2.04. The modified TIF Plan conforms to the general plan of , development of the City as a whole. 2 .05. The modified TIF Plan will afford maximum opportunity, , consistent with the sound needs of the City as a whole, for the redevelopment of the TIF District 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 the TIF Act, except to the extent required by Section 469.177 of the TIF Act. The City and Authority intend to con- tinue to administer the Project as a TIF district created prior to August 1, 1979, except with regard to those development acti- vities which are the subject of this amendment. • 2.07. The City has relied upon the reports and recommen- dations of its staff and the Authority as well as the personal knowledge of members of the Council in reaching its conclusions regarding the TIF District. Section 3. TIF Plan Modification Approved. ' 3. 01. The modified TIF Plan is hereby approved and adopted. The TIF Plan incorporates by reference the original TIF Plan and all subsequent amendments thereto, except as the modified TIF Plan explicitly or by reasonably necessary inference conflicts with the original TIF Plan or any of the first eight amendments thereto. -2- 11 3 . 02. The geographic boundaries of the Project area and the TIF District are not coterminous and are as described in the Plan and modified TIF Plan, which documents are hereby adopted by ' reference. 3 . 03. The Authority is requested to file a copy of the modified TIF Plan with the Minnesota Commissioner of Energy and Economic Development as required by the TIF Act. 3 . 04. The City may at the appropriate time and at the ' request of the Authority take action to issue and sell its general obligation bonds pursuant to the TIF Act to finance public redevelopment costs identified in the TIF Plan. 3 . 05. The City Clerk is authorized and directed to transmit a certified copy of this resolution to the Authority. ' Passed and adopted by the Chanhassen City Council this day of December , 1989. ATTEST: 1 Don Ashworth, City Manager Donald J. Chmiel, Mayor YES NO ABSENT • 1 -3- CITY OF • . CHANHASSEN 690 COULTER DRIVE • P.O. BOX 147 • CHANHASSEN, MINNESOTA 55317 (612) 937-1900 • FAX (612) 937-5739 ' MEMORANDUM 1 TO: Planning Commission FROM: Todd Gerhardt, Assistant Executive Director ' DATE: November 9, 1989 SUBJ: Modification To Tax Increment Financing Plan and Redevelopment Plan No. 9 Attached is Modification No. 9 to the City' s Redevelopment Plan. As you recall, incorporated in the Redevelopment Plan is the Tax Increment Financing Plan for the redevelopment area which includes the downtown commercial area and the Chanhassen Lakes Business Park. The plan is being amended to provide financing for public improvements including the downtown parking lot, Lake Drive, and Market Boulevard. State law requires that the Planning Commission find that the modification proposed is consistent with the Comprehensive Plan. Because the modification involves public improvements located on land designated as industrial on the City' s land use plan and zoned IOP, Industrial Office Park, and CBD, Central Business District, the modification proposed is con- sistent with the City' s land use policies for the subject area. Recommendation Staff recommends that the Planning Commission adopt the following motion: "The Planning Commission adopts Resolution No. finding 1 Modification No. 9 consistent with the plans for development of the City of Chanhassen. " Attachments 1. Proposed resolution. 2 . Modification No. 9. CITY OF CHANHASSEN 690 COULTER DRIVE • P.O. BOX 147 • CHANHASSEN, MINNESOTA 55317 (612) 937-1900 • FAX (612) 937-5739 A MEMORANDUM TO: Housing and Redevelopment Authority FROM: Todd Gerhardt, Assistant Executive Director DATE: November 9, 1989 SUBJ: Amended Redevelopment Tax Increment Financing Plan Modification Attached for the HRA' s consideration is the amended Redevelopment ' and Tax Increment Financing Plan Modification No. 9 . Within this plan are the changes that have occurred since Modification No. 8 was adopted in October, 1988. The plan is being amended to pro- vide financing for the public improvements in the downtown, down- town parking lots, Lake Drive and Market Boulevard. State law requires that the HRA approve the modification and that it is consistent with the overall redevelopment plans of the HRA. ' Recommendation Staff recommends that the HRA approve the Amended Redevelopment ' Plan and Tax Increment Financing Plan Modification No. 9 as attached. ' Attachment 1. Plan Modification No. 9 1 I w 'CITY OF CHANHASSEN CARVER AND HENNEPIN COUNTIES, MINNESOTA NOTICE OF PUBLIC HEARING NOTICE IS HEREBY GIVEN that the City Council of the City of , Chanhassen will meet in the City Council Chambers in Chanhassen/ Minnesota, at 7 :30 p.m. on Monday, December 4 , 1989, to conduct a public hearing on the modification of Redevelopment and Tax I Increment Financing Plan Modification No. 9. Accurate boundaries of the Redevelopment District and Tax Increment Financing District and other changes are contained in the Redevelopment and Tax Increment Financing Plan Modification No. 9, draft copies of which are available for public inspection at Chanhassen City Hall during regular business hours. ' Any person wishing to express a view or opinion on the mat- ters to be considered at the public hearing will be heard orally or in writing. BY ORDER OF THE CITY COUNCIL ' Don Ashworth, City Manager Dated: November 16, 1989 ' (Published in the Chanhassen Villager on November 23, 1989) I 1 CITY OF . CHANHASSEN 690 COULTER DRIVE • P.O. BOX 147• CHANHASSEN, MINNESOTA 55317 ' (612)937-1900 • FAX (612) 937-5739 ' MEMORANDUM TO: Mayor and City Council FROM: Don Ashworth, City Manager DATE: November 9, 1989 1 SUBJ: City Council Meeting on November 14, 1989 ' I. Amended Redevelopment Plan, Housing and Redevelopment Authority: Attached please find the amended plan as proposed by the Housing and Redevelopment Authority. The plan docu- ment includes the Rosemount land acquisition/incentive program with Empak/shopping center complex/hotel. Other ele- ments of the plan, such as parking lot construction, should ' be consistent with previous amendments. Under state statute, the Housing and Redevelopment Authority ' must submit the plan to the Planning Commission and have them make a determination as to whether the proposed plan (amendments to such) are consistent with the Comprehensive Plan. Similarly, the HRA must submit the Redevelopment ' Plan (amendments) to the City Council. The Council is not required to act on the plan unless the Council wishes to reject or cause such to be modified. II. 1989 Bond Program, Dave MacGillivray, Springsted, Inc: Dave MacGillivray of Springsted, Inc. , will be present ' Tuesday evening to discuss the details of the proposed 1989 bond sale program. A technical error occurred during the 1988 legislative process which deleted the provision allowing cities to sell "voted bonds" (fire station, Lake Ann Park, park in southern Chanhassen, etc.) . Accordingly, a portion of the bond issue being considered this year is in actuality bonding which would have typically occurred ' last year. The 1989 legislature corrected the previous errors in statute. Again, Dave MacGillivray will be pre- sent to discuss the details of the sale itself. On Tuesday evening we will also be presenting the City's overall debt ' financing report. This document has been updated through the guidance of Springsted and will be a part of Dave's presentation. 1 1