95-56 CITY OF CHANHASSEN
CARVER AND HENNEPIN COUNTIES, MINNESOTA
DA TE: May 22, 1995
RESOLUTION NO: 95-56
MOTION BY: Mason
SECONDED BY: Dockendorf
A RESOLUTION ADOPTING A TAX INCREMENT FINANCING PLAN
FOR TAX INCREMENT FINANCING DISTRICT NO. 4
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 (the "Authority") and the City Council of the City of
Chanhassen (the "City") approved a redevelopment project for the
downtown Chanhassen area (the "Project") and adopted a redevelopment
plan and tax increment financing plan (the "Project Plans") for same on
November 29, 1977, and December 19, 1977, respectively.
1.02
Due to changes in the focus and alterations in the boundaries of the
Project, the Project Plans have been the subject of numerous modifications
since their adoption in 1977.
1.03
In light of recent development proposals and the limited duration of the
downtown Chanhassen tax increment financing district, it has been
proposed to remove selected properties from the downtown tax increment
financing district (the "Deleted Properties'') and to include them in a new tax
increment financing district to be called Tax Increment Financing District No.
4 ("TIF District No. 4").
1.04
The Authority has investigated the facts and has caused to be prepared a
tax increment financing plan (the "Plan") describing the specific acts to be
taken to assist development within TIF District No.4, which tax increment
district remains within the boundaries of the Project. The Plan is contained
in a document entitled "Tax Increment Financing Plan, Tax Increment
Financing District No. 4, Housing and Redevelopment Authority in and for
the City of Chanhassen", dated May 22, 1995 and on file at City Haft.
1.05
The City has performed all actions required by law to be performed prior to
the establishment of TIF District No. 4 and the adoption of the
Plan relating thereto, including, but not limited to, notification of Carver
County and Independent School District No. 112; a review by the City
Section 2.
2.01
2.02
2.03
2.04
2.05
2.06
2.07
Planning Commission of the Plan for its consistency with the general plans
for development of the City; approval of the Plan by the Authority; and
holding a public hearing before the City Council regarding the Plan upon
such notice as is required by law.
Findinqs Related to the Establishment of Tax Increment Financing District
No. 4.
It is the opinion of the City Council that development of the properties
included within TIF District No. 4 would not reasonably be expected to occur
solely through private investment within the reasonably foreseeable future
due to the lack of an adequate public investment and that the use of tax
increment financing is therefore necessary.
The Council finds that the Plan for TIF District No. 4 conforms to the
general plan for development of the City, based upon the recommendations
of the Planning Commission.
The Council finds that the Plan for TIF District No. 4 will afford maximum
opportunity, consistent with the sound needs of the City as a whole, for
development of the Project by private enterprise.
The Council further finds that the establishment of TIF District No. 4 is
intended, and in the judgement of the City Council, its effect will be to
promote the public purposes and accomplish the objectives specified in the
Plan.
The City has caused a study to be conducted by the building official of the
area to be included within TIF District No. 4. The building official has
verified that parcels containing at least 70 percent of the area of TIF District
No. 4 are improved and that more than 50 percent of the buildings thereon
are substandard. The report has been reviewed by the City Council and
shaft be retained on file at City Hall for the duration of the TIF District No.4.
The Council has relied upon the opinions and recommendations of its staff
and Planning Commission and the personal knowledge of the members of
the Council in reaching its conclusions regarding the creation of TIF District
No. 4.
The Council hereby finds that TIF District No. 4 is redevelopment tax
increment financing district within the meaning of Minnesota Statutes §
469. 174, Subd. 10.
Section 3.
Deletion of Properties; Approval of Tax Increment Financing Plan;
Establishment of Tax Increment Financing District No. 4.
3.01
The City hereby approves and endorses the actions by the Authority to
remove the Deleted Properties from the downtown TIF District and to have
the Carver County Auditor adjust the original tax capacity of said district
accordingly.
3.02 The Plan for TIF District No. 4 is hereby approved and adopted. TIF District
No. 4 is hereby established.
3.03 The boundaries of TIF District No. 4 are described in the Plan and are
incorporated herein by reference.
3.04 The City elects to be governed by Minnesota Statutes § 469. 177, Subd.
3(a), with regard to fiscal disparities for TIF District No. 4.
3.05
The City Manager is authorized and directed to transmit a certified copy of
this resolution together with a certified copy of the Plan to the auditor of
Carver County with a request that the original tax capacity of the property
within TIF District No. 4 be certified to the Authority and the City pursuant
to Section 469. 177, Subd. I of the Tax Increment Financing Act and to file
a copy of the Plan with the Minnesota Commissioner of Review.
3.06
The City may, at the appropriate time, take action to issue and sell its
general obligation bonds pursuant to the Tax Increment Financing Act to
finance the costs identified in the Plan for TIF District No. 4.
3.07 The City Manager is authorized to transmit a copy of this resolution to the
Authority.
Passed and adopted by the Chanhassen City Council this 22nd day of May, 1995.
ATTEST:
Don Ashworth, City~l~rk/Man~er
Donald J. C~ayor -'-
YES
NO ABSENT
Chmiel
Berquist
Dockendorf
Mason
Senn None