92-36 CITY OF CHANHASSEN
CARVER AND HENNEPIN COUNTIES, MINNESOTA
RESOLUTION
Date March 9,
Motion By Workman
1992
Resolution No.
Seconded By
92-36
Mason
RESOLUTION APPROVING MODIFICATION NO. ll TO
THE TAX INCREMENT FINANCING PLAN FOR THE
CHANHASSEN DOWNTOWN REDEVELOPMENT PROJECT
BE IT RESOLVED By the City Council (the Council) of the City of
Chanhassen, Minnesota (the City) 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 ten 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. 11," dated March 9, 1992, and now on file with the city
clerk.
1.05. In accordance with Minnesota Statutes Section 469.174 through 469.179
(TIF Act), the modified Plan was referred to the Chanhassen planning commission
which on February 19, 1992, 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 February 20 , 1992, 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.
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 No. 11; 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 ten amendments thereto.
3.02. The geographic boundaries of the TIF District are not affected by this
modification and are as described in the Plan, as previously modified. The Project
area has been expanded with this modification and the new boundaries of the Project
area are as shown on figure 1 of the modified Plan.
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 TIF 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.
DATED:
March 9, 1992.
D0~ffald Chn~.'~el:7 M~yor ~
ATTEST:
Donald A~sh~rth~, C~ityC~nager
YES NO ABSENT
Chmiel
Dimler
Win9
Ma~on
Workman
None None
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