92-35 B CITY OF CHANHASSEN
CARVER AND HENNEPIN COUNTIES, MINNESOTA
RESOLUTION
Date March 9, 1992
Motion By W o r k m a n
Resolution No.
Seconded By
92-35B
~ason
RESOLUTION ADOPTING A
TAX INCREMENT FINANCING PLAN
FOR TAX INCREMENT FINANCING
DISTRICT NO. 2-2
BE IT RESOLVED By the City Council (the Council) of the City of
Chanhassen, Minnesota (the City) as follows:
Section 1. Recitals.
1.01. On October 10, 1988, the City adopted a Development Program for
Development District No. 2 and a Tax Increment Financing Plan for Tax Increment
Financing District No. 2-1 therein, all pursuant to and in accordance with Minnesota
Statutes § 469.124 through 469.134 and Minnesota Statutes § 469.174 through
469.179.
1.02. On May 22, 1989, the boundaries of Development District No. 2 were
expanded and the Program accordingly modified.
1.03. It has been proposed that the City again expand the boundaries of
Development District No. 2 and create another tax increment financing district within
the expanded Development District No. 2, which tax increment district will be known
as Tax Increment Financing District No. 2-2.
1.04. The Council has investigated the facts and has caused to be prepared
a Tax Increment Financing Plan describing the specific acts to be taken to assist
development within the boundaries of Tax Increment Financing District No. 2-2 and
Development District No. 2.
1.05. The City has performed all actions required by law to be performed
prior to the establishment of Tax Increment Financing District No. 2-2 and the
adoption of a Tax Increment Financing Plan relating thereto, including, but not
limited to, notification of Carver County and Independent School District No. 112;
a review by the City planning commission of the Tax Increment Financing Plan for
Tax Increment Financing District No. 2-2 for its consistency with the general plans
for development of the City; and holding a public hearing regarding the Plan upon
such notice as is required by law.
1.06. The Tax Increment Financing Plan is contained in a document entitled
"Tax Increment Financing Plan, Tax Increment Financing District No. 2-2, City of
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Chanhassen, Minnesota," dated March 9, 199.2, and on file in the office of tho City
Manager.
1.07. The City Council has fully reviewed the contents of the Tax Increment
Financing Plan and has on this date conducted a public hearing thereon at which the
views of all interested persons were heard.
Section 2. Findings Related to the Establishment of Tax Increment Financing
District No. 2-2.
2.01. It is the opinion of the Council that development of the properties
included within the boundaries of Tax Increment Financing District No. 2-2 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.
2.02. The Council finds that the Tax Increment Financing Plan for Tax
Increment Financing District No. 2-2 conforms to the general plan for development
of the City, based upon the recommendations of the planning commission.
2.03. The Council finds that the Tax Increment Financing Plan for Tax
Increment Financing District No. 2-2 will afford maximum opportunity, consistent
with the sound needs of the City as a whole, for development of the expanded
District by private enterprise.
2.04. The Council further finds that the establishment of Tax Increment
Financing District No. 2-2 is intended, and in the judgment of the Council, its effect
will be to promote the public purposes and accomplish the objectives specified in the
Tax Increment Financing Plan.
2.05. The City 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 Tax Increment
Financing District No. 2-2.
2.06. The City Council hereby finds that Tax Increment Financing District
No. 2-2 is an economic development tax increment financing district within the
meaning of Minnesota Statutes § 469.174, Subd. 12.
Section 3. Approval of Tax Increment Financing Plan; Establishment of Tax
Increment Financing District No. 2-2.
3.01. The Tax Increment Financing Plan for Tax Increment Financing District
No. 2-2 is hereby approved and adopted. Tax Increment Financing District No. 2-2
is hereby established.
3.02. The boundaries of Tax Increment Financing District No. 2-2 are
described in the Tax Increment Financing Plan therefor and are incorporated herein
by reference.
3.03. The City elects to be governed by Minnesota Statutes § 469.177, Subd.
3 (a), with regard to fiscal disparities for Tax Increment Financing District No. 2-2.
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3.04. The City Manager is authorized and directed to transmit a e~rtified copy
of this resolution together with a certified copy of the Tax Increment Financing Plan
to the auditor of Carver County with a request that the original tax capacity of the
property within Tax Increment Financing District No. 2-2 be certified to the City
pursuant to Section 469. 177, Subd. 1 of the Tax Increment Financing Act and to file
a copy of the Tax Increment Financing Plan with the Minnesota commissioner of trade
and economic development.
3.05. 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 Tax Increment Financing District No. 2-2.
DATED:
March 9, 1992.
ATTEST:
Donald Ashworth, Ci-t~Clerk/Manager
YES NO
Chmiel
Wing
Dimler
Mason
Workman
None
ABSENT
None
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