04-912Council File # O� �' "—
Resolution #
Green Sheet # �a"�
RESOLUTION
OF
Presented By
Referred Ta
PAUL, MINNESOTA
�9
Committee: Date
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RESOLUTION APPROVING THE AMENDED AND RESTATED TAX
INCREMENT FINANCING PLAN FOR SAINT PAUL NEIGFIBORHOOD
SCATTERED SITE TAX INCREMENT FINANCING DISTRICT NO. lA
8 WHEREAS, the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the
9 "HRA") has heretofore created the Saint Paul Neighborhood Scattered Site Tax Increment Financing District
10 No. lA (the "DistricY') within the Saint Paul Neighborhood Redevelopment Project Area (the
11 "Redevelopment Project Area") and adopted a Tas Increment Financing Plan therefor (the "TIF Plan");
12 WHEREAS, the I-IRA has deternuned it necessary and desirable to amend the TIF Plan for the TIF
13 District to make certain amendments, including, but not limited to, amendments to increase the authorized
14 expenditures and bonded indebtedness originally authorized by the TIF Plan;
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WHEREAS, the HRA has performed all actions required by law to be performed prior to amendment
of the TIF Plan, including, but not limited to, delivering a copy of the Amended and Restated Taac Increment
Financing Plan to Ramsey County and Independent School District Number 625, which have taxing
jurisdiction over the property to be included in the District. The HI2t1 has requested that the City approve the
Amended and Restated Taac Increment Financing Plan following the holding of a public hearing upon
published and mailed notice as required by law; and
21 WI�EREAS, on this date, the City Council conducted a public hearing on the Amended and Restated
22 TaY Increment Financing Plan, after published notice thereof; and
23 WHEREAS, at said public hearing, the City Council heard testimony from any interested parties on
24 the Amended and Restated Tas Increment Financing Plan.
25 NOW THEREFORE BE IT RESOLVED BY the City of Saint Paul, Minnesota as follows:
26 Section 1. Findings far the Adoption of the Amended and Restated Tas Increment Financing Plan.
27 1.01 The Ciry Council hereby finds that the adoption of the Amended and Restated Taac Increment
28 Financing Plan is intended and, in the judgment of the City Council, its effect will be, to carry out the
29 objectives of the Redevelopment Plan for the Redevelopment Project Area, as modified, and to create an
30 impetus for the cleazance of blighted structures and the consriuction of commerciai facilities and low and
31 moderate income housing facilities, and will otherwise promote certain public purposes and accomplish
32 certain objectives as specified in the Redevelopment Plan far the Redevelopment Project Area, as modified,
33 and Tax Increment Financing Plan.
o�i- 9i 2�
34 1.02 The findings set forth in the City Councal Resolution 88-846 adopted in connection with the
35 original adoption of the Taac Increment Financing Plan are hereby incorporated herein by reference and
36 reaffirmed.
37 1.03 The City elects the method of taY increment computation set forth in Mivnesota Statutes,
38 Section 469.177, subd. 3(a).
39 Section 2. Approval of the Amended and Restated Tas Increment Financing Plan.
40 2.01 The Amended and Restated Tax Increment Financing Plan is hereby approved in substantially
41 the form on file with [he Executive Director of the HRA.
Requested by Department of:
Adopted by Council: Date %-o7c�°��
Adoption Certified by Council Secretary
By: � � "
Approved by Mayor� �_ate ____(L1�C" �
Planninq & Economic Development
BY. `,
Approved by Financi � ices
T
By:
Form Approved by Cit� Attorney
By:
BY:
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� Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet �
Department/office/wuncil: Date Initiated: .
PE -P��;n a &EconoxmcDevelopment 10SEP-04 Green Sheet NO: 3022367
� CoMact Person 8 Phone• ���eM Sent To Person InitiaVDate
� Jenny Wolfe � 0 Iann n& Economic Develo
i
� 6-6555 p 1 lannins & Ecmomic Develoo Deoartment Director � 4
f Must Be on Councii Agenda by (Date): � Number Z � � roe
I Public Hearin 9 22/04 For
� / Routing 3 inancial Services
I Ordel' 4 avor's Otiice � Mavor/Assistant �
5 un il
i 6 �Citv C7erk � CtiN Clerk
Total # of Signature Pages � (Clip Ail Locations for Signature)
Action Requested:
Signature on resolution approving an Auieuded and Restated Tax Increment Financing Plan for the Neighborhood Scattered Site TIF
Dish�ict.
Recommendations: Approve (A) or Reject (R): Personal Service Contracts Must Answer the Following Questions:
Planning Commission 1. Has this person/firm ever worked under a contract for this departmenY?
CIB Committee Yes No
Civil Service Commission 2. Has this person/firm ever been a city employee?
Yes No
3. Dces this person�rm possess a skill not normally possessed by any
current city employee? �
Yes No
Explain all yes answers on separate sheet and attach to green sheet
Initiating Problem, issues, Opportunity (Who, What, When, Where, Why):
The HRA created the Neighborhood Scattered Site TIF Distdct in 1988. Addirional resources are needed to undertake projects in the
, Scattered Site TIF District azea which includes several mixed-use azeas throughout ffie City. The azeas include parts of East University,
Hillcrest, Seeger Squaze, and Rice S4eet. The HRA approved the issuance of Tasable Tax Increment Revenue Bonds to provide these
additional resources, and the TIF Plan needs to be amended to allow the issuance of debt. The City Council is required to
hold a Public Hearing and make findin s su ortin the amended Plan.
AdvantageslfApproved:
Satutory requirements to amend ffie Tax Increment Finaucing Distdct will be met and the I3ItA will be able to issue bonds to fund
projects throughout the City.
Disadvantapes If Approved: .
None.
DisadvanWqes If Not Approved:
Satutory requirements to amend the Taac Increment Financing Dishict will not be met and projects will not be funded.
Total Amount of CosURevenue Budgeted:
Transaction:
Funding Source: Activity Number: e �,��� ¢ y.� ��,�
Fi nancial Information: '
(Explain) ��� .g � ^�o�
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