05-1025Council File # 0 J _ ���
GreenSheet# 3028575
RESOLUTION
C4TY OF SA{NT PAU�, MINNESOTA I g
Presenied By
Referred To
Committee: Date
L ��.Y� 311 f Tl LI [� 7���
RESOLUTION APPROVING THE
AMENDMENT OF TAX INCRENIENT FINANCING PLAN
FOR SNELLING AND UNIVERSITY 1NCREMENT FINANCING DISTRICT
1 BE IT RESOLVED by the City Council of the City of Saint Paul, Minnesota (the "Ciry")
2 as follows:
3 Recitals.The Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the
4 "Authority") has heretofore, with the approval of the City Council of the City of Saint Paul,
5 Minnesota (the "City"), adopted a Redevelopment Plan (the "Redevelopment Plan") for the Saint
6 Paul Neighborhood Redevelopment Project (the "Redevelopment Project"), pursuant to
7 Minnesota Statutes, Sections 469.001 to 469.047, both inclusive; andThe City and the Authority
8 have heretofore approved and created by resolutions of the City and Authority, (collectively, the
9 "Prior Resolutions), within the Redevelopment Project Area, the Snelling University Tax
10 Increment Financing District (the "Tax Increment District") and adopted a Tax Increment
I 1 Financing Plan therefor (the "Tax Increment Plan"), all pursuant to and in accordance with
12 Minnesota Statutes, Section 469.174 through 469.1799 (the "Tax Increment Act").The Authority
13 has determined that it is necessary to amend the Tax Increment Plan to reflect, among other
14 things the increased costs of the Redevelopment Project and to authorize the acquisition of
15 certain additional property by the Authority. The Authority has performed all actions required
16 by law to be performed prior to the amendment of the Tax Increment Plan, including, but not
17 limited to, notification of Ramsey County and Independent Schooi District Number 625, which
18 have taxing jurisdiction over the property included in the Tax Increment District, and has
19 requested that the CiTy approve the Amendment of the Tax Increment Financing Plan following
20 the holding of a public hearing upon published and mailed notice as required by law.On ttkis
21 date, the City Council conducted a public hearing on the adoption of the Amendment of Tax
22 Increment Financing Plan, after published notice thereof; andAt said public hearing the City
23 Council heard testimony from a11 interested parties on the Amendment of Tax Increment
24 Financing P1an.Findings for the Amendment of the Tax Increment Financing P1an.The City
25 Council hereby finds that the Amendment of Tax Increment Financing Plan dated November 2,
26 2005 (the "Amendment of Tax Increment Financing Plan") is intended and, in the judgment of
27 the City Council, its effect will be, to carry out the objectives of the Redevelopment Plan and to
28 create an impetus for the redevelopment of blighted areas and will otherwise promote certain
29 public purposes and accompiish certain objectives as specified in the Redevelopment Plan and
30 Tax Increment Financing Plan, as amended.The City Council hereby reaffirms the findings
31 heretofore made that the Snelling and University Tas Increment Financing District qualifies as a
32 "redevelopment district" within the meaning of the Tax Increment Act.The City Council hereby
i���z»�z
OS - ! OZ5'
33 reaffirms the findings made in the Prior Resolutions.The provisions of this Section 2 aze hereby
34 incorporated by reference into and made a part of the Amendment of the Tax Increment
35 Financing P1an.Approval of Amendment of the Tax Increment Financing P1an.The Amendment
36 of Tax Increment Financing Plan for Snelling and University Tax Increment District dated
37 November 2, 2005 is hereby approved.The staff of the City, the staff of the Authority and the
38 City's and Authority's advisors and legal counsel aze authorized and directed to proceed with the
39 implementation of the Amendment of Tas Increment Financing Plan.
Requested by Department of:
L�.d"►�.l1+ti�.G
�
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Adopted by Coun il: Date �_ r�� ` a 0�5 Form
Adoption Certifi y C � ou cil Secretary By: _
B Y� ___�C�/.��'.i� , - 11
Mayor for
OS - I b�s
� Green Sheet Green Sheet Green Slieet Green Sheet Green Sheet Green Sheet �
DepartrnenHoffiee/council: Date Initiated:
PE ����ng&EconomicDevelopment Z.,��T-05 Green Sheet NO: 3028575
Cor�et Person 8 Phone• ���ent Se� To rson - ' ai/Date
DaveGo�a2k � 0 lannina&EconomicDeveloo --� �z�
�� ASSign 1 lanoi & nomicDev o De arhoentDirector
Must Be on Council Agenda by (Date): Number 2 � A o
02-NOV-05 � For
Routing 3 a or' O1Tice Ma or/ is[ant
- Order 4 u ci
5 i lerk CS Clerk
Total # of Signature Pages _(Clip All Locations for Signature)
Action Requested:
To hold a public hearing and approve a City Council Resolution amending the Snelling University Tax Increment Financing Plan
Amendment and reaffirm the tax increment findings.
Recommendations: Approve (A) or Reject (Rj: Personal Service Contrects Must Answer the Following Questions:
Planning Commission 1. Has this personffirtn ever worked under a contract for this department?
CIB Committee Yes No
Civil Service Commission 2. Has this person/firm ever been a city employee?
Yes PJo
� 3. Does this person/firm possess a skill not normally possessed by any
curreM city employee?
Yes No
Explain all yes artswers on sepazate sheet a�d attach to green sheet
I�iGaUng Problem, Issues, OppoRunity (Who, What, When, Where, Why):
The envuonmental remediation is complete far the Snelling Universiry Hazardous Substance Subdistrict and the excess ta�c increment
can be returned to Ramsey Counry for redistribu6on. The I-IItA approved this action on October 12, 2005.
AdvantapeslfApproved:
Tax Increment District is decertified and excess tax increment is retumed to Ramsey County for redishibution.
Disadvantaqes If Approved:
None.
DisadvantaAes If Not Approved:
District is not decertified.
� 7ota1 Amount of CosNRevenue Budgeted:
Transaction:
Fundinp Source: �� ActiviN Number: `� �'°'^'?"t�? �°"R�fl°
��.��sa v : r,-1u. � .
Financial information: �
(F�cPlain) ���' � 6 2005
OS- �O�S
E�ibit B
AMENDMENT OF TAX INCREMENT
FINANCING PLAN
FOR
SNELLING AND UNIVERSITY TAX INCREMENT FINANCING
DISTRICT
Dated
APPROVED BY THE CITY COUNCIL OF THE
CITY OF SAINT PAUL:
APPROVED BY THE HOUSING AND REDEVELOPMENT
AUTHORITY OF THE CITY OF SAINT PAUL:
This document was drafted by:
BRIGGS AND MORGAN (MMD)
Professional Association
2200 West First National Bank Building
Saint Paul, Minnesota 55102
1754942v4
os - �o�s
AMENDMENT OF TAX INCREMENT
FINANCING PLAN
FOR THE
SNELLING AND UNIVERSITY
TAX INCREMENT FINANCING DTSTIZICT
SECTION 1. BACKGROUND
The Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the
"Authority") has heretofore established the Saint Paul Neighborhood Redevelopment Project (the
"Redevelopment Project") and adopted a Redevelopment Plan therefor (the "Redevelopment
Plan") pursuant to Minnesota Statutes, Sections 469.001 to 469.047 (the "Housing and
Redevelopment Authority Act").
Pursuant to Minnesota Statutes, Section 469.174 to 469.1791 (the "Tax Increment Act"),
the Authority has heretofore established within the Redevelopment Project, the Snelling-
University Tax Increment Financing District. In order to finance certain public redevelopment
costs within the Redevelopment Project, the Authority has adopted a Tax Increment Financing
Plan for the Tax Increment Financing District (the "Tax Increment Financing Plan"). The
Authority desires to amend the Ta�c Increment Financing Plan in certain respects as more fully
set forth herein.
SECTION 2. GENERAL DESCRIPTION OF AMENDMENT
The general pucposes of these amendments are to increase the estimated costs of the
Redevelopment Project and to authorize the acquisition of certain additional property by the
Authariry.
SECTION 3. AMENDMENTS
Section 3.1 Prope in Acquisition.
Section F of the Tax Increment Financing Plan is hereby amended to add the following
properiy to the list of properties which the HRA intends to acquire either by negotiation or by
eminent domain if a new private owner does not purchase the site by June 30, 2006.
PID 342923320003
Section 3.2 Increase in Estimate of Costs The Estimate of Costs set forth in Section
G of the Tax Increment Financing Plan is hereby amended as set forth on E�ibit A attached
hereto.
Section 3.3 Sources of Revenue to Finance Public Cost. The "Sources of Revenue to
Finance Public Costs" set forth in Section J of the T� Increment Financing Plan is hereby
amended to read follows:
1754942v4
oS - �aas
J. SOURCES OF REVENUE TO FINANCE PUBLIC COST
Estimated Revenue
Sources of revenue to finance public costs
a) Snelling/University Project
Total Projected Mazket Value
Total Projected T� Capacity
Original Ta�c Capacity
Captured Tax Capacity
Tax Capacity Ratio
Captured Increment
$64,700,000
1,290,000
381,133
908,867
109.004
990,701
b) Snelling-University Project Hazardous Substance Subdivision
Original Taa� Capacity
Tax Capacity Ratio
Captured Increment
Section 3.4 Impact on Other Taxin� Jurisdictions.
$380,705
109.004
414,984
The "Impact on Other Taxing Jurisdictions" set forth in Section J of the Tax Increment
Financing Plan is hereby amended to read as set forth on Exhibit B attached hereto.
Section 3.5 Effect of Amendments
Except as herein amended and supplemented, the Tax Increment Financing Plan remains in full
force and effect.
�7sa9az�a 2
os- I oa.s
EXHIBIT A
EXHIBIT A
Mvdfi[a0an-Ap$.2IX15
' Gean-ap wwk is ongorng, fhis is an es6mate only, expect to close Hazartious Substexe Subdisthct at tne eM ol 2005. assemmg MPCA
apWwal
Prepared by Sprirgsled tnwrporated
QRAFT May 2�, 2005
i7549d2v4 A-1
C�ly of Saint Paul, Minnesata
SneilinglUniversity #9D & 9E
Redeveiopment TIF Dis4ict
Certification Date:10/0711992
p �-/�a-�
EXHIBIT B
1754I42v4 B-1
05-/02�
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