HomeMy WebLinkAbout05-13-10 IV. a. TIF ResolutionHASTINGS ECONOMIC DEVELOPMENT AND REDEVELOPMENT AUTHORITY
CITY OF HASTINGS
DAKOTA AND WASHINGTON COUNTIES
STATE OF MINNESOTA
RESOLUTION NO.
RESOLUTION REQUESTING THE CITY COUNCIL OF THE CITY OF HASTINGS
CALL FOR A PUBLIC HEARING ON THE PROPOSED MODIFICATION TO THE
REDEVELOPMENT PLAN FOR THE VERMILLION STREET REDEVELOPMENT
AREA, THE PROPOSED ESTABLISHMENT OF TAX INCREMENT FINANCING
DISTRICT NO. 5, AND THE PROPOSED ADOPTION OF A TAX INCREMENT
FINANCING PLAN THEREFOR.
BE IT RESOLVED, by the Board of Commissioners (the "Board ") of the Hastings Economic
Development and Redevelopment Authority (the "HEDRA ") as follows:
WHEREAS, the City Council (the "Council ") of the City of Hastings, Minnesota (the "City")
established the Vermillion Street Redevelopment Area, pursuant to Minnesota Statutes, Sections 469.174
to 469.1799, inclusive, as amended, in an effort to encourage the development and redevelopment of
certain designated areas within the City; and
WHEREAS, the HEDRA is proposing a Modification to the Redevelopment Plan for the Vermillion
Street Redevelopment Area and the establishment of Tax Increment Finance District No. 5 (the "District ")
therein and the adoption of a Tax Increment Financing Plan therefore, pursuant to, and in accordance
with, Minnesota Statutes, Sections 469.001 to 469.047, Sections 469.090 to 469.1082, and Sections
469.174 to 469.1799, inclusive, as amended;
NOW, THEREFORE BE IT RESOLVED by the Board as follows:
The HEDRA hereby requests that the Council call for a public hearing on July 19, 2010, to consider
the proposed adoption of a Modification to the Redevelopment Plan for the Vermillion Street
Redevelopment Area (the "Redevelopment Plan Modification ") and the proposed adoption of a Tax
Increment Financing Plan (the "TIF Plan") for the establishment of the District (the Redevelopment
Plan Modification, and TIF Plan are referred to collectively herein as the "Plans "), and cause notice
of said public hearing to be given as required by law.
2. The HEDRA directs the Executive Director to transmit copies of the Plans to the Planning
Commission of the City and requests the Planning Commission's written opinion indicating whether
the proposed Plans are in accordance with the Comprehensive Plan of the City, prior to the date of
the public hearing.
The Executive Director of the HEDRA is hereby directed to submit a copy of the Plans to the
Council for its approval subsequent to the public hearing.
4. The HEDRA directs the Executive Director to transmit the Plans to the county and the school district
in which the District is located no later than June 18, 2010.
5. Staff and consultants are authorized and directed to take all steps necessary to prepare the Plans and
related documents and to undertake other actions necessary to bring the Plans before the HEDRA
Board and the Council.
Approved by the Board on May 13, 2010.
ATTEST:
Kurt Keena, President
John Hinman, Executive Director
SCHEDULE OF EVENTS
HASTINGS ECONOMIC DEVELOPMENT
AND REDEVELOPMENT AUTHORITY
AND THE CITY OF HASTINGS
DAKOTA AND WASHINGTON COUNTIES, MINNESOTA
FOR THE PROPOSED MODIFICATION TO THE REDEVELOPMENT PLAN
FOR THE VERMILLION STREET REDEVELOPMENT AREA
AND THE PROPOSED ESTABLISHMENT OF
TAX INCREMENT FINANCING DISTRICT NO. 5
(a redevelopment district)
Draft as of May 5, 2010
August 14, 2008 HRA adopts resolution making certain findings with respect to parcels being
occupied by substandard buildings and other improvements.
August 21, 2008 HRA approves Demolition Agreement with Linn Investment Properties, LLC.
May 11, 2010 Project information (SEH report, detailed project description, maps, but /for
statement, list of sources and uses of funds, and estimated fiscal impacts of the
project public improvements and on fire and police protection) for drafting
necessary documentation sent to Ehlers.
May 13, 2010 HEDRA requests that the City Council call for a public hearing on the proposed
Modification to the Redevelopment Plan for the Vermillion Street Redevelopment
Area and the proposed establishment of Tax Increment Financing District No. 5.
HEDRA Board provides guidance to staff on whether Linn Investment Properties,
LLC., should be requested to pay for all or a portion of the cost of establishing Tax
Increment Financing District No. 5; and other HEDRA out -of- pocket costs
associated with the project, such as legal fees.
May 17, 2010 City Council calls for public hearing on the proposed Modification to the
Redevelopment Plan for the Vermillion Street Redevelopment Area and the
proposed establishment of Tax Increment Financing District No. 5.
May 21, 2010 Ehlers confirms with the City whether building permits have been issued on the
property to be included in Tax Increment Financing District No. 5.
June 4 2010* Project information submitted to the County Board for review of county road
impacts if necessary* (at least 45 days prior to public hearing). *The County Board,
by law, has 45 days to review the TIF Plan to determine if any county roads will be
impacted by the development. Because the proposed tax increment financing
district may require unplanned county road improvements, the TIF Plan will be
forwarded to the County Board 45 days prior to the public hearing. Please be aware
that the County Board could claim that tax increment should be used for county
roads, even after the public hearing. [Ehlers will fax & mail on or by June 4, 2010.]
EHLERS
LEADERS IN PUBLIC FINANCE
SCHEDULE OF EVENTS - PAGE 2
HASTINGS ECONOMIC DEVELOPMENT
AND REDEVELOPMENT AUTHORITY
AND THE CITY OF HASTINGS
DAKOTA AND WASHINGTON COUNTIES, MINNESOTA
FOR THE PROPOSED MODIFICATION TO THE REDEVELOPMENT PLAN
FOR THE VERMILLION STREET REDEVELOPMENT AREA
AND THE PROPOSED ESTABLISHMENT OF
TAX INCREMENT FINANCING DISTRICT NO. 5
(a redevelopment district)
June 8, 2010 Letter received by Dakota County Commissioner giving notice of potential
redevelopment tax increment financing district (at least 30 days prior to publication
of public hearing notice.) [Ehlers will fax & mail on or by June 8, 2010.]
June 18, 2010 Fiscal/economic implications received by School Board Clerk and County Auditor
(at least 30 days prior to public hearing). [Ehlers will fax & mail on or by June 18,
2010.]
July 1, 2010 Ehlers conducts internal review of Plans.
July 8, 2010 Date of publication of hearing notice and map (at least 10 days but not more than 30
days prior to hearing). [Hastings Star Gazette publication deadline, July 2, 2010, at
12:00 P.M. Ehlers will submit notice, map, and instructions to newspaper on or
before July 2, 2010, via email at legals @hastingsstargazette.com.]
July 8, 2010 HEDRA considers the Plans and passes a resolution adopting the Plans. [Ehlers will
send packet information, via email, to the HEDRA on or by July 1, 2010.]
HEDRA passes resolution authorizing an interfund loan in connection with Tax
Increment Financing District No. 5.
July 12, 2010 Planning Commission reviews the Plans to determine if they are in compliance with
the City's comprehensive plan. [Ehlers will send packet information, via email, to
the City on or by July 1, 2010.]
July 19, 2010 City Council holds public hearing at 7:00 P.M. on a Modification to the
Redevelopment Plan for the Vermillion Street Redevelopment Area and the
establishment of Tax Increment Financing District No. 5 and passes a resolution
approving the Plans. [Ehlers will send Council packet information, via email, to the
City on or by July 12, 2010.]
TBD Ehlers files TIF Plan with the MN Department of Revenue and the Office of the
State Auditor, and requests certification of Tax Increment Financing District No. 5
with Dakota County.
An action under subdivision 1, paraSraph (a), contesting the validity of a determination by an authority under section 469.175,
subdivision 3, must be commenced within the later of:
(1) 180 days after the municipality's approval under section 469.175, subdivision 3; or
(2) 90 days after the request for certification of the district is filed with the county auditor under section 469.177, subdivision 1.
EHLERS
LEADERS IN PUBLIC FINANCE
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