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HomeMy WebLinkAboutCity Council Resolution 1993-828• CITY OF PLYMOUTH COUNTY OF HENNEPIN STATE OF MINNESOTA RESOLUTION NO. 93-828 RESOLUTION APPROVING AMENDMENT TO TAX INCREMENT FINANCING PLAN FOR ECONOMIC DEVELOPMENT DISTRICT 4-2 BE IT RESOLVED by the City Council (the "Council") of the City of Plymouth, Minnesota (the "City"), as follows: Section 1. Recitals. 1.01. It has been proposed that the City amend the Tax Increment Financing Plan for District No. 4-2 (the "Plan") to include that certain Development Property and the Improvements thereon proposed by Ameridata, Inc. at 10200 — 51st Avenue North and provide for reimbursement of certain redevelopment costs paid by Ameridata, Inc. through Tax Increment on a pay as you go basis; pursuant to such provisions of Minnesota Statutes, Sections 469.174 through 469.179, as may be applicable thereto, and as reflected in that certain document entitled "Amendment to Tax Increment Financing Plan for Economic Development District No. 4-2" dated 1993 and presented for the Council's consideration. 1.02. The Council has investigated the facts relating to the Plan. 1.03. The City has performed all actions required by law to be performed prior to the adoption and approval of the Plan. Section 2. findings for the Amendment of the Tax Increment Financing Plans for Economic Development District 4-2. 2.01. The Council.finds that the proposed development would not occur solely through private investment within the reasonably foreseeable future and, therefore, the use of tax increment financing is deemed necessary; that the Plan, as amended, will conform to the general plan for the development or redevelopment of the City as a whole because the subject area is properly zoned for the intended use, and the anticipateddevelopment is in furtherance of the long range plans of the City for the subject area; and that the Plan, as amended, will afford maximum opportunity, consistent with the sound needs of the City as a whole, for the development of the subject area by private enterprise because it will enable the City to provide and finance suitable and necessary public enducements. 2.02. The Council further finds that the Plan, as amended, is intended and, in the judgment of the Council, its effect will be to promote the public RESOLUTION NO. 93-828 purposes and accomplish the objectives specified in the Plan and the Development Program for the Development District, which are all consistent with the efforts already made for the development of the subject area. 2.03. The Council hereby finds that the Plan, as amended, will be in the public interest and will result in the preservation and enhancement of the tax base of the City, of the employment opportunities within the City, and of the City's Central Business District. Section 3. Approval and Adoption of the Amendment to the Plan. 3.01. The Amendment to the Plan, as presented to this Council on this date, including without limitation the findings and statements of objectives contained therein, is hereby approved, ratified, established, and adopted and shall be placed on file in the.office of the City Clerk. 7423P Adopted by the Plymouth City Council and approved on December 20 , 1993. —2— • 93-828 CITY CLERK'S CERTIFICATE The undersigned, being the duly qualified and acting City Clerk of the City of Plymouth, Minnesota, hereby certifies that the foregoing is a true and correct copy of a resolution on file and of record in the offices of the City, which resolution relates to the approval of Amendment of Tax Increment Financing Plan for Economic Development District No. 4-2, and which resolution was duly adopted by the Council at a regular or special meeting of the Council held on December 6, 1993. Said meeting was duly called and regularly held at the place at which meetings of the Council are.regularly held and the meeting was open to the public, a quorum of the Council being present and acting throughout the meeting. Councilmember Edson introduced and moved the adoption of the foregoing resolution, which was presented in writing and was either read in full or the reading thereof was dispensed with by unanimous consent of the Council, which motion was seconded by Councilmember Tierney . A vote being taken upon the motion, the following memhErs of the Council voted in favor of adopting the resolution: Mayor Bergman, Councilmembers Helliwell, Edson, Tierney, and Vasiliou and the following voted against the same: None Whereupon said resolution was declared passed and adopted and was thereafter approved by execution by the Mayor, as attested by the undersigned. The foregoing resolution remains in full force and effect, and no action has been taken by the Council which would in any way alter, amend, or repeal the resolution. WITNESS MY HAND officially as the City Clerk of the City of Plymouth, Minnesota this 28th day of January 1994. , 1993. (SEAL) 2ossv City Clerk City of Plymouth, Minnesota 0