2006-02
e
e
e
CHANHASSEN ECONOMIC DEVELOPMENT AUTHORITY
CITY OF CHANHASSEN
CARVER AND HENNEPIN COUNTIES, MINNESOTA
DATE:
April 10, 2006
RESOLUTION NO:
2006-02
MOTION BY:
SECONDED BY: Lundquist
Furlong
RESOLUTION ADOPTING A MODIFICATION TO THE REDEVELOPMENT
PLAN FOR THE DOWNTOWN CHANHASSEN REDEVELOPMENT PROJECT
AREA AND ESTABLISHING TAX INCREMENT FINANCING DISTRICT NO.9
THEREIN AND ADOPTING A 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 (the "Redevelopment Plan Modification") for
the Downtown Chanhassen Redevelopment Project Area and establish Tax Increment Financing District
No.9 and adopt a Tax Increment Financing Plan (the "TIP Plan") therefore (the Redevelopment Plan
Modification and the TIP 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 469.1799, inclusive, as amended (the "Act"), all as reflected in the Plans and
presented for the Board's consideration; 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 Plans and requested the City Council to 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 hereby finds that Tax Increment Financing District No. 9 is in the public
interest and is a "housing district" under M.S., Section 469.174, Subd. 11 and M.S. Section 469.1761 and
a "qualified housing district" under M.S., Section 469.174, Subd. 29, and finds that the adoption of the
proposed Plans conform in all respects to the requirements of the Act and will help fulfill a need to, to
provide affordable housing opportunities, to improve the tax base and to improve the general economy of
the State and thereby serves a public purpose.
2. 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 Downtown
Chanhassen Redevelopment 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.
expanded.
The boundaries of the Downtown Chanhassen Redevelopment Project Area are not being
e
e
e
4. The reasons and facts supporting the findings in this resolution are described in the TIP
Plan and in the exhibit attached to the City resolution approving the Plans, on file in City Hall.
5. 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 Executive Director of the EDA.
6. 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.
7. Upon approval of the Plans by the City Council, the Executive Director of the EDA is
authorized and directed to forward a copy of the Plans to the Minnesota Department of Revenue pursuant
to Minnesota Statutes 469.175, Subd. 4a.
8. The 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 TIP Plan, all in accordance with Minnesota Statutes 469.177.
Approved by the Board of Commissioners of the Chanhassen Economic Development Authority
this 10th day of April, 2006.
/LA .~-,j
Thomas A. Furlong, Chair
JJf