08-752Council File # /�$ � 7� p� -
Green Sheet # 3056571
RESOLUTt6N
CITY OF SAINT PAUL, MINNESOTA �fp
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1 RESOLUTION NO.
2 RESOLUTION APPROVING THE
3 ESTABLISHMENT OF A TAX INCREMENT FINANCING DISTRICT (2009-2023)
4 (DOWNTOWN t1ND SEVENTH PLACE FOR THE MINNESOTA EVENT DISTRICT)
5 AND THE ADOPTION OF A TAX INCREMENT FINANCING PLAN THEREFOR
6 AND APPROVING A TAX INCREMENT AGREEMENT WITH RAMSEY COUNTY
7
8 BE IT RESOLVED by the City Council of the City of Saint Paul, Minnesota (the "City")
9 as follows:
10 1. Recitals
11 1.1 The Housing and Redevelopment Authority of the City of Saint Paul, Minnesota
12 (the "Authority") has heretofore established the Seventh Place Redevelopment Project Area (the
13 "Redevelopment Project Area") and adopted a redevelopment plan therefor (the "Redevelopment
14 Plan").
15 1.2 The Authority has asked the City Council to approve the creation, within the
, 16 Redevelopment Project Area, of a Tas Increment Financing District as a redevelopment tax
17 increment financing district (the "Taz Increment Dishict"), and the adoption of a Tax Increment
18 Financing Plan therefor, all pursuant to and in accordance with Minnesota Statutes, Section
19 469.174 through 469.179 (the "Tax Increment Act") and Laws of Minnesota, Chapters 366,
20 Article 5, Section 36 (the "Special Law") authorized the Authority to establish a tax increment
21 redevelopment district comprised of the same properties in the existing Downtown and Seventh
22 Place Tax Increment Financing District (County #82). The Special Law requires that the Taz
23 Increment District may only be created if the City enters into an agreement with Ramsey County
24 to pay it the taxes the County would have received if the Taac Increment District had not been
25 created.
26 13 The Authority has performed all actions required by law to be performed prior to
27 the creation of the Tax Increment District and adoption of a Taac Increment Plan therefor,
28 including, but not limited to, notification of the Ramsey County Commissioner representing the
29 area of the County in which the Tas Incremex�t Financing District is located, and delivering a
30 copy of the Tas Increment Financing Plan to Ramsey County and Independent School District
31 Number 625, which have taxing jurisdiction over the property to be included in the Tax
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1 Increment District. The Authority has requested that the City approve the adoption of the Tax
2 Increment Financing Plan and the creation of the Tax Increment District following the holding of
3 a public hearing upon published and mailed notice as required by law.
4 2. Findings for the Creation of Tas Increment Financin� District 2009-2023
5 (Downtown and Seventh Place for the Minnesota Event District) and Adoption of a TaY
6 Increment Financing Plan therefor.
7 2.1 The City Council hereby finds that the creation of Tax Increment Financing
8 District (2009-2023) (Downtown and Seventh Place for the Minnesota Event District) and
9 adoprion of the Tas Increment Plan therefor, aze intended and, in the judgment of the City
10 Council, its effect will be, to carry out the objectives of the Redevelopment Plan and will
11 otherwise promote certain public purposes and accomplish certain objectives as specified in the
12 Redevelopment Plan and Tas Increment Financing Plan.
13 2.2 The City Council hereby finds that Taac Increment Financing District (2009-2023)
14 (Downtown and Seventh Place Minnesota Event District) qualifies as a"redevelopment dish
15 without compliance with Minnesota Statutes, Section 469.174, Subd. 10 pursuant to the Special
16 Law:
17 23 The City Council hereby makes the following fmdings:
18 (a) The City Council further finds that the Tax Increment Financing Plan
19 conforms to the general plan for the development or redevelopment of the City as a
20 whole. The specific basis for such finding being:
21 The Tax Increment Financing Plan will generally compliment and serve to
22 implement policies adopted in the City's comprehensive plan.
23 (b) The Special Law restricts the use of tas increments to pay debt service on
24 the Authority's Sales Taac Refunding Revenue Bonds, Series 1996, or any bonds issued to
25 refund the same. Consequently, the findings required by the provisions of Minnesota
26 Statutes, Section 469.175, Subdivision 3(2) and (4), aze not applicable.
27 3. Creation of Tax Increment Financin¢ District (2009-20231 (Downtown and
28 Seventh Place for the Minnesota Event Districtl and the Taac Increment Financing Plan therefor
29 and Aovrovai of Tax Increment A�reement.
30 31 The creation of Tax Increment Financing District (2009-2023) (Downtown and
31 Seventh Place for the Minnesota Event District) is hereby approved and the Tax Increment
32 Financing Plan therefor is hereby adopted.
33 3.2 The Tas Increment Agreement among the Authority, the City and Ramsey
34 County, which agreement is referred to in Section 1.2 hereof, in substantially the form on file
35 with the Executive Director is hereby approved, and the Chair, a Commissioner, the Executive
36 Director and the Director, Office of Financial Services are hereby authorized and directed to sign
37 the Tax Increment Ag�eement on behalf of the Authority.
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1 33 The staff of the City, the staff of the Authority and the City's and Authority's
2 advisors and legal counsel aze authorized and directed to proceed with the implementation of the
3 Tax Increment District and the Taac Increment Financing Plan and for this purpose to negotiate,
4 draft, prepaze and present to the Boazd of Commissioners of the Authority for its consideration
5 all further plans, resolutions, documents and contracts necessary for this purpose.
6 3.4 The staff of the City is hereby directed to take any action necessary to provide for
7 the deposit of Tas Increments from the Tas Increment District into the debt service fund created
8 for the Authority's Sales Tas Revenue Refunding Bonds, Series 1996, or any bonds issued to
9 refund the same.
caner
Harris
Helgen
Stark
Thune
Adopted by Council: Date
Yeas Nays Absent Requested by DepartmenY oE
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Approved by the Office of Financial Services
By: �
✓ Appr ed by
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Adoprion Certified by Counc' Secretafif gy:
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Approved yo Date � � �
By:
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� Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet �
68-75a-
FS Fina¢cial Services
ConYaet Person & Phone:
Bob Geurs
266-8837
musc ese on
'16JUL-08
Doc. Type: RESOLUTION
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by
E-Document Required: Y
Document Contact: Bob Geurs
Contad phone: 266$837
o�.,��-08 Green Sh t O: 3056571
� Deoartrnent e Person itiallDate
0 inancia! Services
Assi9n 1 aacialServices De arhnentl)irector �
Number
Fw 2 ' Attorne Ci Attome
RoUting 3 a oCs O�ce Ma odAssista¢t
Order
a ouncil CounN
5 ' Clerk Ci Clerk
Total # of Signature Pages _(Clip All Loeations for Signature)
Approve resolution authroizing a new tax incerment district (2009-2023) adoption of TIF plan and approving Tas Increment
Agreemnt with Ramsey County requ'ued by 2008 State law
Planning Commission
CIB Committee
Civil Service Commission
1. Has this person/firtn ever worked under a contract for this department?
Yes No
2. Has this person/firtn ever been a ciry employee? ,
Yes No
3. Does this persoNfirtn possess a skill not nortnally 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):
Speciaj 2008 State law allows HRA to set up a new TIF district. The TIF is esrimated at more than $4 million annually.
AdvanWges If qpproved:
River Centre complex financing has improved by over $4 million a yeaz
DisadvaMages IfApproved:
None Known
DisadvanYages If Not Approved:
City will lose over $4 million annually wluch is permitted under the 2008 State law.
Trensactioa:
Funding Source:
Financial Informati on:
(E�cplain)
CostlRevenue Budgeted:
Activity Number:
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NOTICE OF PUBIC HEARING
ON THE ESTABLISHMENT OF
A TAX INCREMENT FINANCING DISTRICT
(Downtown and Seventh Place Project 2009-2023)
NOTICE IS HEREBY GIVEN that the City Council of the City of Saint Paul, Minnesota,
will hold a public hearing on Wednesday, July 16, 2008, at a meeting of the City Council
begimiing at approximately 530 p.m., in the City Council Chambers in the City Hall at 15 West
Kellogg Boulevard, Saint Paul, Minnesota, relating to the proposal of the Housing and
Redevelopment Authority of the City of Saint Paul, Minnesota (the "Authority"), to adopt a Taac
Increment Financing Plan and establish a Tas Increment Financing District, pwsuant to and in
conformity with applicable law, including Minnesota Statutes, Sections 469.001 through
469.047, and Minnesota Statutes, Sections 469.174 to 469.1791.
A map showing the property in the Tax Increment Financing District and the boundaries
of the Redevelopment Project Area within which the Taac Increment Financing District is located
is set forth below.
A draft copy of the proposed Tax Increment Financing Plan for the Tas Increment
Financing District, along with all attachments and exhibits thereto, will be available for public
inspection at the Authority's office at the City Hall Annex, 13`� Floor, 25 West Fourth Street, St.
Paul, MN 55102, and is available for inspection during regular business hours commencing on
Monday, June 30, 2008.
All interested parties may appear at the July 16, 2008, public hearing and present their
views orally or in writing. In addition, interested persons may file written comments respecting
the proposal with the Department of Planning and Economic Development, to the attention of
Robert Geurs at (651) 266-8837, at or prior to said public hearing.
Publish by July 5, 2008
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