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279109 WHITE - CITV CLERK � �W{/�� \/�� PINK - FINANCE G I TY OF SA I NT l,A lJ L COUIICIl . � �_7���y CANARV - DEPARTMENT r �,l P�J BV:�E .. -*AVOR File NO• ` Co ncil Resolution Presented By � -�-1- Referred To Committee: Date Out of Committee By Date RESOLUTION MAKING CERTAIN FINDINGS, APPROVING A TAX INCREMENT FINANCING PLAN, AND CREATING A TAX INCREP�IENT FINANCING DISTRICT FOR THE SAINT PAUL NEIGHBORHOOD BUSINESS DEVELOPMENT PROGRAM, PHASE I WHEREAS, on October 8, 1981 , the Housing and Redevelopment Authority of the City of Saint Paul , Minnesota (the "HRA") , recommended to the Saint Paul City Council , and on October 27, 1981 , the City Council adopted, the Citywide Redevelopment Plan (the "Redevel- opment Plan") which outlined economic development strategies with respect to neighborhood commercial areas within the redevelopment project area (the "Project Area") ; and WHEREAS, the HRA has created the Saint Paul Neighborhood Business Development Program through which economic assistance may be provided to new and existing neighborhood commercial enterprises ; and WHEREAS, the HRA has submitted in connection with the Saint Paul Neighborhood Business Development Program, a Phase I Tax Increment Financing Plan proposing the creation of a ta�x increment financing district within the Project Area for the purpose of financing said Saint Paul Neighborhood Business Development Program; and WHEREAS, the said Redevelopment Plan and Tax Increment Financing Plan submitted contain a statement of objectives and development program of the HRA for the improvement and devel- opment of the Redevelopment Area and Tax Increment Financing District including property to be acquired, the existence of contracts governing the project, description of development reasonably expected to occur and the Tax Increment Financing Plan contains estimates of tMe cost of the project, sources of revenue to finance the project, the most recent assessed value of taxable real property within the District, the estimated captured assessed value of the District at completion the duration of the existence of the District, and a statement of the HRA's estimate of the impact of tax increment financing on the assessed values of all taxing jurisdictions in which the District is located; and COUNCILMEN Yeas Nays Requested by Department of: Fletcher Levine In Favor 1 n ' and Economic Deveiopment Masanz Nicosia Scheibel _ __ AgBiRSt BY Tedesco Wilson Form Approved by City Attorney Adopted by Council: Date — Certified Passed by Council Secretary BY i�G�O'✓�!�"�'r���i °' � By �lpproved by 17avor: Date _ Approved by Mayor for Submission to Council BY - – — BY . . , ; . . �����.�"� � -z- WHEREAS, the HRA and City Council have provided an opportunity to members of the Ramsey County Board and Independent School District No. 625 to meet with the HRA Board and City Council and HRA has presented the Board members of said County and School District its estimate of the fiscal and economic implications of the proposed tax increment financing district; and WHEREAS, on August l� 1982, the City Council conducted a public hearing upon the Tax Increment Financing Plan after pu6lished notice in the Saint Paul Pioneer Press and Di s patch on August 1, 1982; and WHEREAS, at said public hearing the City Council heard testimony from all interested parties appearing on the creation of said District, reviewed and considered the Project Redevelopment Plan and Tax Increment Financing Plan with supporting analysis , attachments , maps and tables , and the findings and determinations of the St. Paul Planning Commission and of HRA, respecting said Rroject and District; NOW, THEREFORE, BE IT RESOLVED, by the Council of the City of Saint Paul , in view of the foregoing here6y approved as findings , that the following further findings are hereby made: 1 . That, upon the evidence presented in the public hearing and upon the data, information, and statistical evidence specifically stated in the Tax Increment Financing Plan, and as supplemented in the application of the HRA to the Minnesota Department of Energy, Planning and Devel- opment for approval of commercial development revenue bonds to assist Phase I of the District and by other information available to and knowledge of the Councilmembers, the site comprising the District individually is an economic development district within the meaning and provision of Minnesota Statutes , Section 273.73, Subdivision 12, in that the proposed development and redevelopment will result in increased employment and enhancement of the tax base of the City; 2. That the proposed development or redevelopment has not occurred nor would it occur solely through private investment within the reasonably forseeable future without significant public financial and other assistance proposed, that usual sources of public revenue are not adequate to provide the required level of such public assistance and that, therefore, the use of tax increment financing as proposed in the Tax Increment Financing Plan is necessary to the accomplishment of the development and redevelopment of the District in accordance with the Project and District Plans ; 3. That the tax increment financing plan conforms to the Saint Paul Comprehensive Plan which is the general plan for the development of the municipality as a whole; 4. That the Tax Increment Financing Plan will afford maximum opportunity, consistent with the sound needs of the municipality as a whole, for the development or redevelopment of the district by private enterprise; and 5. That the City of Saint Paul elects the method of tax increment compu- tation set forth in Section 273.76, Subdivision 3, clause (a) . N'HITE - C�TV CLERK CDUnC11 . � ��1�9 PINK - FINANCE C I TY OF SA I NT PAU L CANARV - DEPARTMENT BLU'E ` - �1AVOR File NO. � Council Resolution Presented By ����'-�"� � Referred To Committee: Date Out of Committee By Date -3- BE IT FURTHER RESOLVED, by the City Council that the Saint Paul Neighborfiood Business Development Program Pliase I Tax Increment Financing Plan is hereby approved and the HRA is directed to file a copy thereof and of this resolution with the Commissioner of Energy,, Planning and Development and that the Saint Paul Neighborhood Business Development Program Phase I Tax Increment Financing District is hereby created and the HRA is directed to file copies of the Plan and this resolution with the Ramsey County Department of Taxation with its request for certification of the original assessed value of the District as described in the Plan. Approved: 8-5-82 Budg irector COUIVCILMEN Requested by Department of: Yeas Nays � Levineer P1 ' g and Economic Dev:?lrpment Masanz [n Favor NiCOSia � scne�bei _ � __ Against BY redesco ..�°..,::._�—, AUG 19 1981 Form Approved by City Att ney Adopted by Councii: Date _ Certified P�;s b Council , et BY ������� B} �.�- tapprove y : vor: - Date AUG � �9�1 Approved y ayor for Submis cil B � __�\\����'��� — �� BY � Y � �tIBLiSHEO AU G 2 8 1982 • � I�PARTMENT: P•E.D DEVELOPME �q�;Kathleen CaTlahan ROUTIN6 n�a tANATI�N Sl�ET PHONE: ' GR EN SHEET For Ad�ninistrative Orders, Re lutiona, Ordinancee and AQreements /�r"�91+Q �TING ORDER - ROL?F BY ASSI6HE� NUMSER: _�. DIRECTOR OF MANA6EMENT �Hdllpt� I1_ MAYOR �_ DEPARTMENT D I RECTOR � ' "--", ziinii�i$ . 2 CITY ATTORNEY g CITY CLERK � BuDGET DiRECTOR 7 Jim Scheibel �� " � � Adoption of the attached resolution approving a Tax�Increment Financing Plan and cr ating a Tax Increment Financing District or the Saint Paul Neighborhood gus.iness Develop nt Program. , . By adopting the attached resolution the. City Council will be approving the � Tax Increment Financing Plan and wi 1 be creating a Tax Increment Financing Distric for the Saint Paul Neighborhood Bus ness Development Program. °Phase One" referred to in th resolution denotes the Iris Park Place Project. : By creating th�is District and appro ing the Plan, the City Council will be s.upporting the Saint Paul Neighborh od Business Development Program because without the creation of the District and the approval of the Plan, the Program's . existence would be in jeopardy. � � ATTACHMENTS �LIST ALL ATTACHMENTS): 1, Resolution 2. � � � � , 3, ¢a�e nev.c¢W ntC¢bb oA. o e o b � . . C�i.tr1 A.ttonney: J. Counci,.0 ReeaLu,Li.o►e Requ.inedY X YFS NO 1. Reeol.wti`oitf VES NO 2. inewrance Requv�edY YES NO 2. Ineuxance Su6b.i.�i.v�zt YFS NO ' 3. Inbunanc¢. A.Ltach¢,dY V�S NO l�viaica �ie4/29/82 , - � ,o..v ,��91�� . :�a CITY OF SAINT PAUL INTERDEPARTMENTAL MEMORANDUM DATE: August 11 , 1982 TO . A1 Olson FROM: Julie Bergh, PED RE . Resolution (attached) Please place this resolution on the August 19, 1982 agenda along with the public hearing agenda item for the Tax Increment Financing Plan for Iris Park project. (The Finance Committee will be taking action on this today - August 12, 1982 - at 2 :00 p.m. , note the attached Finance Committee Agenda. ) attachment JB:dma �� � `��� � �'���,�� . .o. CITY OF SAINT PAUL INTERDEPARTMENTAL MEMORANDUM DATE: July 30, 1982 T0: Jim Bellus R� t�'��a�n � Steve Wellington Peggy Reichert Terry McNellis Sheri Pemberton Tom Meyer A1 Lovejoy Bob Fletcher, Councilman Greg Blees , Budget Director Molly 0' Rourke, C.O. Districtll3 Ki'k� Sonen, C.O. District 11 � FROM: Julie Bergh _ RE: Public Hearing on a oposal to Create the Iris Park Place Tax Increment Financing District and to Adopt Tax Increment Financing Plan - Brief History - � � On May 25, 1982, the "Iris Park Place" project, also known as "Palen-Kimball/Hammond � Building" project, was given preliminary approval by the Housing and Redevelopment Authority to issue commercial revenue bonds , not to exceed $2,700,0OO. ,to assist in .financing the purchase and rehabilitation of the Hammond Building located at 1885 University Avenue, Saint Paul . The project is to be the maiden venture of the Neighborhood Business Development Program. The City Council on July 29, 1982 approved the submission of our UDAG application for this project. At this juncture, staff is requesting that the City Council create a Tax Increment Financing District and adopt a Tax Increment Financing Plan for the purpose of further financing the projert. The Tax Increment Financing Plan for Iris Park Place project has been sent to the County .and School Boards for their review. The Project has also been reviewed by the Planning Commissian and resolved to be in conformance with the Comprehensive Plan. Staff will present the Iris Park Place Tax Increment Financing Plan to both the Finance Committee of the City Council :and the Housing and Redevelopment Authority on August 12, 1982. On August 19, 1982 there will be a public hearing and a request for the final adoption by the City Council . � If you have any questions or co�+ments , please direct them to Kathleen Callahan at 292-1577, ext. 276. ' JB :jab Attachment J , � ��91�9 NOTICE OF PUBLIC HEARING ON A PROPOSAL FOR A PROGRAM TO CREATE THE I IRIS PARK PLACE TAX INCREMENT FINANCING DISTRICT AND TO ADOPT A TAX INCREMENT FINANCING PLAN FOR THE PURPOSE OF FINANCING DEVELOPMENT �IN THE DISTRICT TO WHOM IT MAY CONCERN : Notice is hereby given that the City Council of the :City of Saint Paul , Minnesota will meet at the City Council Chamber, City Hall in the City of St. Paul , Minnesota at 10:00 a.m. on August 19, 1982, to consider the proposal that the City Council create the Iris Park Place Tax Increment Financing District, and adopt a tax increment financing plan for the purpose of financing develo�"ment in the District pursuant to Minnesota Statutes , Chapter 273, � Iris Park Place is located at 1885 University Avenue in Saint Paul , Minnesota. Originally named "Krank Manufacturing Company'; it is now named after the park just across ' Universi�y Avenue. Iris Park Place will have 42,000 square feet of rentable space when the renovation is completed. A draft copy of the proposed Tax Increment Financing Plan together with all attachments and exhibits thereto, are available for public inspection beginning���°�����;1982 , frvm 8 o 'clock a.m, to 4 o'clock p.m. , Monday through Friday, at the offices of Departme�t � of Planning and Economic Development, 25 West Fourth Street, St. Paul , Minnesota 55102, 292-6295. At the time and place fixed for said� Public Hearing, the City Council of the City of Saint Paul , Minnesota will give all persons who appear an opportunity to express their views with respect to the proposal.