2017-01 CHANHASSEN ECONOMIC DEVELOPMENT AUTHORITY
CITY OF CHANHASSEN
CARVER AND HENNEPIN COUNTIES
STATE OF MINNESOTA
RESOLUTION NO. 2017-01
RESOLUTION ADOPTING A MODIFICATION TO THE
REDEVELOPMENT PLAN FOR THE DOWNTOWN CHANHASSEN
REDEVELOPMENT PROJECT AREA, DECERTIFICATION OF TAX
INCREMENT FINANCING DISTRICT NO. 10,AND ESTABLISHING
TAX INCREMENT FINANCING DISTRICT NO:11 THEREIN AND
ADOPTING A TAX INCREMENT FINANCING PLAN THEREFOR.
WHEREAS, on July 24, 2017 the City Council of the City of Chanhassen (the "City")
approved by resolution the decertification of TIF District No. 10 within the Downtown Chanhassen
Redevelopment Project Area(the"Project Area:); and
WHEREAS, it has been proposed by the Board of Commissioners (the "Board") of the
Chanhassen Economic Development Authority (the "EDA") and the City that the EDA adopt a
Modification to the Redevelopment Plan(the"Redevelopment Plan Modification") for the Project
Area and establish Tax Increment Financing District No. 11 (the "District") and adopt a Tax
Increment Financing Plan(the"TIF Plan")therefor(the Redevelopment Plan Modification and the
TIF Plan are referred to collectively herein as the "Plans"), all pursuant to and in conformity with
applicable law,including Minnesota Statutes, Sections 469.090 to 469.1082,and Sections 469.174
to 469.1794, inclusive, as amended (the "Act"), all as reflected in the Plans and presented for the
Board's consideration; and
WHEREAS, on July 24, 2017 the City Council authorized the advance of funds (the
"Interfund Loan")to pay for certain costs identified in the TIF Plan with the intent to be reimbursed
from tax increments derived from the District; and
WHEREAS, the EDA has investigated the facts relating to the Plans and has caused the
Plans to be prepared; and
WHEREAS, the EDA has performed all actions required by law to be performed prior to
the adoption of the Plans. The EDA has also requested the City Planning Commission to provide
for review of and written comment on the Plans and that the Council schedule a public hearing on
the Plans upon published notice as required by law.
NOW, THEREFORE, BE IT RESOLVED by the Board as follows:
1. The EDA designates EDA staff shall take such action as is necessary to cause the County
Auditor of Carver County to decertify TIF District No. 10 as a tax increment district and to no
longer remit tax increment from TIF District No. 10.
2. The EDA hereby finds that the District is in the public interest and is a"redevelopment district"
under Minnesota Statutes, Section 469.174, Subd. 10, and finds that the adoption of the
1
proposed Plans conforms 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 Plans will help in the preservation and enhancement of the tax base of the City
and the State and thereby serves a public purpose.
3. The EDA further finds that the Plans 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.
4. The boundaries of the Project Area are not being expanded.
5. The reasons and facts supporting the findings in this resolution are described in the Plans.
6. The EDA elects to calculate fiscal disparities for the District in accordance with Minnesota
Statutes, Section 469.177, Subd. 3, clause b, which means the fiscal disparities contribution
would be taken from inside the District.
7. Conditioned upon the approval thereof by the City Council following its public hearing
thereon, the Plans, 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.
8. Upon approval of the Plans by the City Council,the staff,the EDA's advisors and legal counsel
are authorized and directed to proceed with the implementation of the Plans 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 Plans
does not constitute approval of any project or a Development Agreement with any developer.
9. Upon approval of the Plans by the City Council,the EDA Executive Director is authorized and
directed to forward a copy of the Plans to the Minnesota Department of Revenue and the Office
of the State Auditor pursuant to Minnesota Statutes 469.175, Subd. 4a.
10. The EDA Executive Director is authorized and directed to forward a copy of the Plans to the
Carver County Auditor and request that the Auditor certify the original tax capacity of the
District as described in the Plans, all in accordance with Minnesota Statutes 469.177.
11. The EDA accepts the term of the Interfund Loan as adopted by the City Council.
Approved by the Board on September 11, 2017.
Denny La fenbur:er, Ch
ATT"/44
Todd Gerhardt, Executive Director
2