1997-05-20 Resolution Approving Modified TIF
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CITY OF ALBERTVILLE
RESOLUTION NO. 1997-32
RESOLUTION APPROVING MODIFIED
DEVELOPMENT PROGRAM FOR DEVELOPMENT DISTRICT NO. 1
AND A TAX INCREMENT FINANCING PLAN FOR
TAX INCREMENT FINANCING DISTRICT NO.7
BE IT RESOLVED by the City Council ("Council") of the City of Albertville, Minnesota
("City") as follows:
Section 1. Recitals.
1.01. The City has previously established its Development District No. 1 pursuant to
Minn. Stat., Section 469.124 through 469.134 ("Development District Act").
1.02. The City has determined a need to modify the Development Program for the
Development District and to create TIF District No.7 (the "TIF District") therein pursuant to
Minn. Stat., Section 469.174 through 469.179 ("TIF Act"), and to that end has caused to be
prepared a document titled "Modified Development Program, Development District No. 1 and
Tax Increment Financing Plans, Tax Increment Financing District No.7 and Tax Increment
Financing District No.8, City of Albertville, Minnesota," dated May 20, 1997.
1.03. The Development Program and Tax Increment Financing Plan for TIF District No.
7 ("TIF Plan") were, in accordance with the Development District Act and TIF Act, referred to
the Albertville Planning Commission, which found that they conform to the general plan for the
development of the City as a whole.
1.04. Notice of the City's intent to establish the TIF District was delivered to the County
Commissioner who represents the site at least 30 days before publication of the notice of public
hearing.
1.05. Estimates of the fiscal and economic implications of the TIF Plan were provided
to Independent School District No. 885 and Wright County at least 30 days before the Council's
public hearing on the TIF Plan, and the county commissioner representing the site was duly
noticed in accordance with the TIF Act.
1.06. This Council has fully reviewed the contents of the Development Program and TIF
Plan and on this date conducted a public hearing thereon at which the views of all interested
persons were heard.
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Section 2. Findings: Development District.
2.01. It is hereby found and determined that there is a need to modify the Development
Program for the Development District, in order to improve the tax base and employment
opportunities, and to provide an impetus for related housing development.
2.02. It is further specifically found and determined that:
a) the land within the Development District would not be made available for
development without the public intervention and financial assistance described in
the Development Program and TlF Plan;
b) the modified Development Program will afford maximum opportunity, consistent
with the sound needs of the City as a whole, for the development of the
Development District by private enterprise; and
c) the Development District and modified Development Program conform to the
general plan for development of the City as set forth in the comprehensive
municipal plan.
Section 3. Findings: TlF District No.7.
3.01. It is found and determined that it is necessary and desirable for the sound and
orderly development of the Development District and the City as a whole, and for the protection
and preservation of the public health, safety, and general welfare, that the authority of the TlF
Act be exercised by the City to provide public fmancial assistance to the TIF and Development
Districts.
3.02. It is further found and determined, and it is the reasoned opinion of the City, that
the development proposed in the TIF Plan for TIF District No. 7 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.
3.03. The proposed public improvements to be fmanced in part through tax increment
fmancing are necessary to permit the City to realize the full potential of the TIF and Development
Districts in terms of development intensity, employment opportunities and tax base.
3.04. The Plan for TIF District No.7 conforms to the general plan of development of
the City as a whole.
3.05. The Plan for TIF District No.7 will afford maximum opportunity, consistent with
the sound needs of the City as a whole, for the development of the TIF and Development
Districts by private enterprise.
3.06. TIF District No.7 is a housing district under Section 469.174, subd. 11 of the TlF
Act, based on the fmdings described in the TlF Plan, which are incorporated herein by reference,
and other records on file with the City.
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3.07. The City anticipates that TIF District No.7 will be a "qualified housing district"
under Minnesota Statutes, Section 273.1399, Subd. I(c), based on the findings described in the
TIF Plan, which are incorporated herein by reference, and other records on file with the City.
3.08. Reasons and facts supporting the findings under this Section are stated in the TIF
Plan. The City has also relied upon the reports and recommendations of its staff as well as the
personal knowledge of members of the City Council in reaching its conclusions regarding TIF
District No.7.
Section 4. Development Program and TIF Plan Adopted: Certification: Filing.
4.01. The modified Development Program and the TIF Plan are hereby approved and
adopted.
4.02. The geographic boundaries of the Development District and of the TIF District are
described in the Development Program and TIF Plan therefor, respectively, and are incorporated
herein by reference.
4.03. The City Administrator is authorized and directed to transmit a certified copy of
this resolution together with a certified copy of the Development Program and the TIF Plan to
the Auditor of Wright County with a request that the original tax capacity of the property within
TIF District No.7 be certified to the City pursuant to Section 469.177, subd. 1 of the TIF Act,
and to file a copy of the Development Program and the TIF Plan with the Minnesota
Commissioner of Revenue as required by the TIF Act.
Adopted this 20th day of May, 1997.
Attest:
'-~A~ ~ 7iIt.
City Administrator .-
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