EDA2001-4.docCHANHASSEN ECONOMIC DEVELOPMENT
AUTHORITY
CITY OF CHANHAS SEN
CARVER COUNTY
STATE OF MINNESOTA
RESOLUTION NO. 2001-4
RESOLUTION ADOPTING THE MODIFICATION TO THE REDEVELOPMENT
PLAN FOR THE DOWNTOWN CHANHASSEN REDEVELOPMENT PROJECT AREA;
AND THE MODIFICATION TO THE TAX INCREMENT FINANCING PLAN FOR
THE DOWNTOWN CHANHASSEN TAX INCREMENT FINANCING DISTRICT; AND
ESTABLISHING TAX INCREMENT FINANCING DISTRICT NO. 8 (WITHIN THE
DOWNTOWN CHANHASSEN REDEVELOPMENT PROJECT AREA) AND
ADOPTING THE TAX INCREMENT FINANCING PLAN THEREFOR
WHEREAS, it has been proposed by the Board of Commissioners (the "Board") of the
Chanhassen Economic Development Authority (the "EDA") and the City of Chanhassen (the
"City") that the EDA adopt a Modification to the Redevelopment Plan for the Downtown
Chanhassen Redevelopment Project Area, and a Modification to the Tax Increment Financing
Plan for the Downtown Chanhassen Tax Increment Financing District, and establish Tax
Increment Financing District No. 8 (the "District") and adopt the Tax Increment Financing Plan
therefor, (collectively, the "Modifications and Plan"), all pursuant to and in conformity with
applicable law, including Minnesota Statutes, Sections 469. 090 through 469.1081, and Sections
469.174 to 469.179, inclusive, as amended (the "Act"), all as reflected in the Modifications and
Plan and presented for the Board's consideration; and
WHEREAS, the EDA has investigated the facts relating to the Modifications and Plan
and has caused the Modifications and Plan to be prepared; and
WHEREAS, the EDA has performed all actions required by law to be performed prior to
the adoption of the Modifications and Plan. The EDA has also requested the City Planning
Commission to provide for review of and written comment on Modifications and Plan and that
the Council schedule a public hearing on the Modifications and Plan upon published notice as
required by law.
NOW, THEREFORE, BE IT RESOLVED by the Board as
follows:
1. The EDA hereby finds that Tax Increment Financing District No. 8 is in the public
interest and is a "housing district" under Minnesota Statutes, Section 469.174, Subd. 11, and
finds that the adoption of the proposed Modifications and Plan conform in all respects to the
requirements of the Act and will help fulfill a need to develop an area of the State of Minnesota
which is already built up and that the adoption of the proposed Modifications and Plan will help
provide employment opportunities in the State and in the preservation and enhancement of the
tax base of the City and the State because it will discourage commerce and industry from moving
their operations to another state or municipality and thereby serves a public purpose.
2. The EDA further finds that the Modifications and Plan will afford maximum
opportunity, consistent with the sound needs for the City as a whole, for the development or
redevelopment of the project area by private enterprise in that the intent is to provide only that
public assistance necessary to make the private developments financially feasible.
3. Conditioned upon the approval thereof by the City Council following its public
hearing thereon, the Modifications and Plan, as presented to the EDA on this date, are hereby
approved, established and adopted and shall be placed on file in the office of the City Manager.
4. Upon approval of the Modifications and Plan by the City Council, the staff, the
EDA'S advisors and legal counsel are authorized and directed to proceed with the
implementation of the Modifications and Plan and for this purpose to negotiate, draft, prepare
and present to this Board for its consideration all further plans, resolutions, documents and
contracts necessary for this purpose. Approval of the Modifications and Plan does not
constitute approval of any project or a Development Agreement with any developer.
5. Upon approval of the Modifications and Plan by the City Council, the City Manager is
authorized and directed to forward a copy of the Modifications and Plan to the Minnesota
Department of Revenue pursuant to Minnesota Statutes 469.175, subdivision 2.
6. The City Manager is authorized and directed to forward a copy of the Modifications
and Plan to the Carver County Auditor and request that the Auditor certify the original tax
capacity of the District as described in the Modifications and Plan, all in accordance with
Minnesota Statutes 469.177.
Approved by the Board of Commissioners of the Chanhassen Economic Development
Authority this 1st day of November, 2001.
ATTEST:
Chair
Executive Director