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97-1191�". . t ,-�. c � � ii _ _ - . " . . _ :�� . Presented By Referred To �{. �'\Co�'�`UIICil File # �� Green Sheet # 3R 3G ? )LUTION PAUL, MINNESOTA Date RESOLUTION APPROVING THE (A) AMENDMENT OF THE REDEVELOPMENT PLAN FOR THE SEVENTH PLACE REDEVELOPMENT PROJECT; (B) MODIFICATION OF THE TAX INCREMENT FINANCING PLAN FOR THE SEVENTH PLACE TAX INCREMENT' FINANCING DISTRICT, AND (C) THE CREATION OF THE BLOCK 39/ARENA REDEVELOPMENT TAX INCREMENT FINANCING DISTRICT AND THE TAX INCREMENT FINANCING PLAN RELATING THERETO ro � BE IT RESOLVED by the Council of the City of Saint Paul, Minnesota (the "Council"),as follows: Section 1. Recitals. 1.01. On 7uly 23, 1997, the council adopted its Resolution C.F. No. 97-910 calling for a public hearing on certain matters in connection with the expansion of the Seventh Place Redevelopment Project, construction of a new azena, and redevelopment of Block 39 in the City. 1.02. It has been proposed that the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the "�1RA") establish the Block 39/Arena Redevelopment Tax Increment Financing District and, in connection therewith that the City of Saint Paul (the "City") approve the creation of the Block 39/Arena Redevelopment Tax Increment Financing Dishict (the "DistricP') and the Ta�c Increment Financing Plan (the "T'IF Plan") relating thereto, all pursuant to and in accordance with Minnesota Statutes, Section 469.174 through 469.179, inclusive; and Minnesota Statutes, Sections 469.001 through 469.047, inclusive. 1.03. The III2A and the City Council have previously approved the creafion of the Block 39 Renewal and Renovation Tax Increment Financing District, however, the HRA has determined that it will not request certification from the County Auditor of the Block 39 Renewal and Renovation District, but wili instead request certification of the District. 1.04. It has also been proposed that the III2A amend the Redevelopment Plan foz the Seventh Place Redevelopment Project originally adopted on November 16, 1978 (as previously amended) and asnend the T� Increment Financing Plan for the Seventh Place Tax Increment Financing District (collectively, with the TIF Plan, the "Plans"). Such amendments shall add 42 43 44 45 46 47 48 property to the Seventh Place Redevelopment Project and will delete properiy from the Seventh Place Taac Increment District, which properry will then be included in the District. �1�� 1.05. The HRA has invesrigated the facts and has caused to be prepared the proposed Plans. 1.06. The Plamiiug Commission adopted its Resolution No. 97-68 on September 12, 1997 approving the amendment to the Redevelopment Plan for the Seventh Place Redevelopment Project. 49 50 1.07. The HRA and/or the City, as applicable, have performed all actions required by law 51 to be performed prior to the establishment of the District and the adoption of the Plans, including, 52 but not lunited to, notification of Ramsey County and School District No. 625 having taxiug 53 jurisdiction over the properry to be included in the District, and the holding of a public hearing after 54 published notice as required by law. 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 1.08. Certain written reports (the "Reports") relating to the Plans and to the activifies contemplated therein haue heretofore been prepazed by HRA and City staff and submitted to the Council andJor made a part of the City files and proceedings on the Plans. The Reports include data, information and/or substanfiation constituting or relafing to (1) the "studies and analysis" on why the District meets the "but for" test and (2) the basis far the other findings and deternvnations made in this resolution. The Council hereby confirms, ratifies and adopts the Reports, which are hereby incorporated into and made as fully part of this resolution to the same extent as if set forth in full herein. Section 2. Findings bv the City for the Approval of the Tas Increment Financing Plan for the Block 39/Arena Redevelopment TaY Increment Financin�District. 2AL The Council hereby finds that the Distzict is in the public interest and is a "redevelopment districY' pursuant to Minnesota Statutes, Secrion 469.174, Subd. 10. 2.02. The Council hereby finds that the Disirict, and the approval of the TIF Plan relating thereto, are intended and, in the judgment of this Council, the effect of such actions wiil be, to provide an impetus for redevelopment and to further the public putposes and accomplish certain objectives as specified in the TIF Plan, which is hereby incorporated herein. 2.03. The Council further finds that the proposed development or redevelopment in the District, in the opinion of the City, would not occur solely through private inveshnent within the reasonably foreseeable future and that the increased market value of the ta�:able property within the District that could reasonably be expected to occur without the use of tax increment financing (being $0) would be less than the increase in the mazket value estimated to result from the proposed development (the new development of taxable properry will cost approximately $57,000,000) after subtracting the present value of the projected tax increments for the maYimum duration of the District permitted by the TIF Plan and, therefore, the use of tas increment financing is deemed necessary; that the TIF Plan conforms to the general plan for the development or redevelopment of the City as a whole; and that the TIF Plan wili afford maximum oppoitunity consistent with the sound needs of the City as a whole, for the development of the District by private enterprise. 2.04. The City elects to make a qualifying local contribution in accordance with Minnesota Statutes, Section 273.1399, Subd. 6(d), in order to qualify the District for exemption from state aid losses set forth in Section 273.1399. 2.05. The Council fiirther fmds, declares and determines that the City made the above °�� -1�°ll 93 44 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 findings stated in this Section 2 and has set forth the reasons and supporting facts for each detennination in writing, attached hereto as Attachment A. 2.06. The City elects to calculate fiscal disparities for the Dishict in accordance with Minnesota Statutes, Section 469177, Subd. 3, clause (a), which means the fiscal disparities contribution would not be taken from within the District. Section 3. Approval of the Plans and Fur[her pocumentation. 3.01. The Plans, as presented to the Council on this date, aze hereby approved and adopted, and shall be placed on file in the office of the Executive D'uector of the HItA. 3.02. The staff of the City, the City's advisors and legal counsel aze authorized and directed to cooperate as necessary with the HRA in the implementation of the Plans and for this purpose to negotiate, draft, prepare and present to this Council for its consideration a11 further plans, resolutions, documents and contracts which may be deemed necessary for this purpose. 3.03. The auditor of Ramsey Couniy is requested to certify the originai net tax capacity of the District, as described in the TIF Plan, and to certify in each yeaz thereafter the amount by wluch the net tax capacity has increased or decreased; and the HRA is authorized and directed to forthwith transmit this request to the county auditor in such form and content as the auditor may specify, together with a list of all properties within the District for which building permits have been issued during the 18 months immediately preceding the adoprion of this resolution. Further, the county auditor shall be informed of the addition of certain property to the Seventh Place Redevelopment Project. Adoption Certified by Council Secretary BY � �` . � M�4/�ru� ' ♦ /� %. Approved by Mayor: Date r�`�°�a' � ( By: Requested by Department of: Plan 3� & Economic Development By: Form Approved b ity Attorney By: I i.ii�� _ Approved by M f r Submission to Council By: � 15077731 �� °�� DEPARTMEMiOFFiCEACOUNCIL DATEINITIATED GREEN SHEET � y � b � PED 9-16-97 CONTACT PERSON 8 PHONE INITIAVDATE INITIAL/DATE �DEPARTMENTDIRE OCINCOUNCIL Tony Scherfler (66593) p551GN O CfTYATTORNEY � CT'CLEPK NUYBENFON MUST BE ON CAUNCILAGENDA BY (�ATE) p01rtING O BUDGET DIRECTO � FIN. & MGT. SERVICES DIR. S C , � ORDEN OMAVOR(ORASSISTANn � TOTAL # OF SIGNATURE PAGES (CLIP ALL LOCATIONS FOR SIGNATURE) ACiION REQUESTE�: Resolution approving the (A) amendment of the Redevelopment Plan for the Seventh Place Redevelopment Project; modificadon of the Tac Increment Financing Plan for the Seventh Place Tax Increment Financing District, and (C) the creation of the Block 39/Arena Redevelopment Tae Increment Financing District anf the Tax Increment Financing Plan relating thereto. RECAMMENDA710NS: approve (n) or Reject (q) PEFiSONAL SERVICE CONTFiACTS MUST ANSWER THE FOLLOWING QUESTIONS: _ PLANNING COMMISSION _ CIVIL SERVICE CqMMISSION �- Has this person/firm ever worketl under a contrac[ for this department? __ CIB COMMITTEE __ YES NO _ S7AFF 2. Has this person/firm ever been a ciry employee? — YES NO _ DISiRIGi CAUar _ 3. Does this personNirm possess a skill not nortnally possessed by any current city employee? SUPPORTS WHICH COUNCIL O&IECTIVE? YES NO Explain all yes answers on separate shcet anE attach to green sheet INITIATING PROBLEM, ISSUE, OPP�RTUNITV (Whq What, When, Where, Wby�� In order to amact an NHL Team, the City Council committed to funding a portion of a new azena with the Tac Increment generated from a modified Block 39 Ta4 Increment District. This resolution changes the boundaries of the district to include the azena site and changes the district from a 15 yeu renewal and renovafion district into a 25 yeaz redevelopment district. ADVANTAGESIFAPPROVED: The conversion of this district from a renewal and renovarion district into a redevelopment dish�ict is to provide an alternative source of funding for the new azena in the event that the State of Minnesota faIls to provide their portion of the costs. DISADVANTAGES IFAPPROVED: DISADVANTAGES IF NOTAPPROVED: TOTAL AMOUN7 OF 7pANSAC710N $ COS7/REVENUE BUDGE7ED (CIRCLE ONE) YES NO FUNDIfdG SOURCE ACTIVI7Y NUMBER FINANCIAL INiORhiATION: (EXPLAIN) ��-�\°lt ATTACHIvfENT A RESOLUTION #, The reasons and facts supporting the findings for the adoption of the Tax Increment Financing Plan (the "Plan") for the Block 39/Arena Redevelopment T� Increment Financing District (the "District") as required pursuant to Minnesota Statutes, Section 469.175, Subdivision 3 are as follows: 1. Finding that the District is a redevelopment district as defzned in Minnesota Statutes, Section 469.174, Subd 10. The District is a contiguous geographic azea consisting of a portion of a project within which (i) parcels consisting of 7Q% of the area of the District aze occupied by buildings, streets, utilities, or other improvements; and (ii) 50% of the buildings aze structutally substandard. The District contains 18 parcels of land totaling 634,394 squaze feet of which 100% is occupied by buildings, streets, utilities or other improvements. A total of 14 buildings are located in the District. The "structurally substandard" determination is based on outside appraisals of 10 of the l 1 buildings on Block 39 and which demonstrate that the buildings are no longer functional or usable for the intended uses of the property and exlubit other deficiencies such that the buiidings have "negative market value", meaning that the land has higher mazket value without structures thereon than the land has with the existing structures thereon. In addition, the Saint Paul Civic Center arena e�ibits structural deficiencies, deficiencies relating to access and egress and functional deficiencies for its intended use and must be cleazed from the site in order to accommodate a structure suitable for its intended use. 2. Finding that the proposed development, in the opinion of the Council, would not occur solely through private investment within the reasonably foreseeable future and, therefore, the use of tar increment financing is deemed necessary and that the increased market value of the site that could reasonably be expected to occur without the use of tax increment financing would be Zess than the increase in the market value estimated to result from the proposed development after subtracting thepresent value oftheprojected tax increments for the maximum duration ofthe districtpermitted by the plan. Due to the fragmented ownership of the properry in the District, excessive costs for the clearance, grading, soil and pollution correction, and the fact demonstrated by external appraisals that several buildings in the District have negative market value (i.e., the property would have a higher mazket value without the present shucture(s) located there than with them), this project is feasible only through assistance, in part, from tax increment financing. The proposed development consists, in part, of an approximately 370,000 square foot office building, 950-stall parking ramp and retail space, the increase in mazket value of which is estimated to be approxnnately $57,000,000. In addifion, a new 20,000 seat azena will be coustnlcted on the site of the eacisting arena (which will be demolished), but the new arena will be publicly owned and therefore exempt properiy. Tax increment assistance is required to assist in paying the public share of the cost of the removal of the �1 -�� deficient and obsolete existing facility. The value of development eapected to occur witlaout the use of tas increment financing is $-0-, (there are no other proposals or pians to redevelop the property in the district) which is less than the estiznated increase in mazket value of the tasable properry e�pected to be created by the proposeci project (appro�mately $57,000,000) minus the present value of the projected ta�c increments (approximately $16,858,245). 3. Finding that the Tax Increment Financing PZan conforms to the general plan for the development or redevelopment of the municipaZity as a whole. The Redevelopment Plan and the modifications thereof in connection with the creation of the Dishict have been reviewed by the Platuring Commission and haue been found by resolution to conform to the Saint Paul Comprehensive Plan. 4. Finding that the Tax Increment Financing Plan for the District will afford maximum opportuniry, consistent with the sound needs of the City as a whole, for the development of the District by private enterprise. The establishment of the District will result in the facilitation of redevelopment in downtown Saint Paul and the creation of jobs for residents of the Ciry. ��-t�°II city of saint paul pianning comm�ssion resolution file number 97-68 �te September 12, 1997 WHEREAS, Minnesota Statutes require Planning Commission review of Redevelopment Plans submitted to the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the "HRA") for compliance with the Comprehensive Plan; and WIIEREAS, the HRA has transmitted to the Planning Commission an amendment to the Redevelopment Plan for the Seventh Place Redevelopment Project (the "Seventh Piace Plan") which adds certain property to the project area; and WHEREAS, the Planning Commission has reviewed the proposal to annend the Seventh Place Plan; and WHEREAS, the Planning Commission has found the proposed amendment to the Seventh Place Plan to be consistent with the Saint Paul Comprehensive Plan; and NOW, THEREFORE, BE IT RESOLED, by the Saint Paul Planning Commission, that the proposed amendment to the Seventh Place Plan is in compliance with and consistent with the intent of the Saint Paul Comprehensive Plan; and BE IT FURTHER RESOLVED, that when specific projects aze fixlly developed, the Planning Commission shall review them for conformance with specific policies of the Comprehensive Pian; and BE IT FINALLY RESOLVED, that the Planning Commission's findings be transmitted to the HRA for their consideration. moved by Maddox seconded by in favor 13 a��(�t 1 Vaught) F c . '�f �r� . \V°1� RESOLU710N 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 Presented By Referred To Council File # ✓ �_� \`V Green Sheet # sL� 3 �O � � Committee: Date RESOLUTION CALLING FOR A PUBLIC HEARING BY THE CITY COUNCII. OF THE CTTY OF SAINT PAUL ON (A) THE MODIFICATI0IV OF TFIE REDEVELOPMENT PLAN FOR THE SEVENTH PLACE REDEVELOPMENT PROdECT, AND (B) TFIE CREATION OF THE BLOCK 39/ARENA REDEVELOPMENT TAX INCREMENT FINANCING DISTRICT WHEREAS: �� 1. On November 30,1978, the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the "HRA") approved the Seventh Place Redevel�pment Plan and the Project Financing Plan related thereto by Resolution No. 78-1 I/30-1, to which the City Council of the Ciry of Saint Paul (the "Council") subsequently gave its approval by Resolution C.F. No. 272155 adopted on December 5, 1978. By Resolution No. 81-I 1/5-8 adopted November 5, 1981 and ResoVution No. 83-5125-3 adopted May 25, 1983, the HRA adopted modifications to such plans which did not require approval of the Council, and by Resolution No. 82-1/28-11 adopted amendments to the Redevelopment Plan and Project Financing Pian, which amendments were approved by the Council by Resolutions C.F. No. 278173 and 278670 adopted February 4, 1982 and May 11, 1982. The Redevelopment Plan was again amended and a Tax Increment Financing Plan for the Seventh Place Redevelopment Project was approved by the HRA on November 9, 1989 by Resolution No. 89-] 119-1, and approved by the Council by Resolution C.F. No. 89- 2028 adopted on November 9, 1989. 2. On May 28, 1997, by Resolution No. 97-5/28-9, in an effort to encourage the development and redevelopment of property in the Project area and specifically, to provide for the acquisition of land, demolition of structures, and the construction of a pazking facility and privately-owned office tower, the HRA approved the establishment of the B(ock 39 Renewal and Renovation Tax Increment Financing District (the "Renewal District") and, in connection with the creation of the Renewal District, approved (i) the tas increment financing plan relating thereto, (ii) an amendment ta the Redevelopment Plan for the Seventh Place Redevelopment Project, and (iii) an amendment to the Tax Increment Financing Plan for the Seveaih Place Redevelopment Project. 3. On May 28, 1997, by Resolution C.F, I�o. 97-6b8, the Council approved the documents listed in pazagraph 2 above, and made the necessary fmdings as required by law. 4. The Renewal District was formed by removing Block 39 &om the Seventh Place Tas Increment District by amending the Ta�c Increment Financing Plan for such district, and creating a new renewal and renovation district encompassing Biock 39. 5. In a further effort to encourage the redevelopment of an approximately 12.5 acre site located in the central business district of downtown Saint Paul, specificaliy, to provide for the acquisition land, demolition of shvctures, and the construction of an approximately 20,000 seat azena for professional hockey games and other large 1557337 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 S8 59 60 61 62 63 64 65 66 67 68 b9 70 ��b` entertainment events, as a replacement of the existing RiverCentre Arena, it has been proposed that certain pro� be added to the geographic area of the Seventh Place Redevelopment Project Area, and the Renewal Distr rp.2, oonverted from a renewai and renovation district into a redevelopment district, with a 25-yeaz duration, an� __.Q�'+�� connection with such actions, the Council approve (i} the tax increment fmancing plan relating to the Block 39/Arena Redevelopment Tax Increment Financing District (the "District") and (ii) a fiu2her amendment to�the redevelopment plan for the Seventh Place Redevelopment Project (coilectively, the "Plans"), all pursuant to and in accordance with Minnesota Statutes, Sections 469.001 to 469.047, inclusive; and Minnesota Statutes, Section 469.174 through 469.179, inclusive. 6. It is also proposed that the Council call for a public hearing regarding the Plans and direct that the Plans be sent by the HRA to the Ciry of Saint Paul Planning Commission (the "Planning Commission") and the applicable taxing jurisdictions. RESOLVED, by the City Council of the City of Saint Paul, Minnesota (the "City"), as follows: 1. Publ�_ c Hearing. This council shall meet on Wednesday, September 10, 1997, at approximately 4:30 p.m., to hold a public hearing on the proposed Plans pursuant to and in accordance with Minnesota Statutes, Sections 469.001 to 469.047 and Sections 469.174 to 469.179, inclusive, as amended, in an effort to encourage the redevelopment of a 12.5 acre site located in the central business district of the City to provide for the construction of an approximately 20,000 seat arena for professional hockey games and other lazge entertainment events, which wi13 replace the existing RiverCentre arena. 2. Filina of Plans• Notice of Hearing. The HRA staff is hereby authorized to finalize the Plans and is directed to forward the Plans to the appropriate taYing jurisdictions including Ramsey County and Independent School District No. 625, and to the Planning Commission. The City Clerk is authorized and directed to cause notice of the public hearing, substantially in the form attached hereto as Attachment A, together with an appropriate map as required by ]aw, to be published at least once in the officia] newspaper of the City on August 29, 1997, and to place a copy of the Plans as finalized on file in the City Clerk's office at City Hall and to make such copies available for iaspection by ihe public. C . �' . -�-�' �'l ' � � b Requested by Department of: By: �� E� om' D v 10 ne / / / $y .{��GC��{ �L ��/�� {L V� Form Approved by City Attorney BY' ��.KC t'j(• V�/ Appzoved by Ma for S to Council gy: —� ` �' 1�� 1 1557337 Approved by Mayor: Date � 1� ` . AFRICE/COUNpL DATE INITIATED GREEN SHEE (�� _��9 3 6 6 P�D 7-16-97 CON7ACT PERSON E PHONE INITIAVDATE �NRIAVDATE �DEPARTMEMD�RE�CTOR — �CRYCAUNCIL Tony Schertler (66593) ASSIGN a C�7Y ATTOfiNEY q/) •`)) J/) y7 � CRY CLEAK YUST 2E ON CqUNCIL AGENDA BY (�ATEJ NU46EP FOP -_-'�--�=y--` J J� � S , C i S� ROUT�NG � BUDGEf DIRELTOR � FIN. d MGT SEBVICES DIF. ORDER O MqYOR (OR ASSISTAN'T) O TOTAL # OF SIGNATURE PAGES (CLIP ALL LOCATIONS FOR SIGNATURE) ACTION REQUESTED: Resoluaon calling for a puhlic heazmg by the City Council of the City of Samt Paul on (A) the malificarion of the Redevelopment Plan for the Sevenih Place Redevelopment Project, and (B) the creation of the Block 39/Arena Redevelopment Tax Increment Financing RECOMMENDATIONS: Approve (A) or Rajact (R) PERSONAL SERVICE CONTRACTS MUST ANSWER TFfE FOILOWING QUESTIOHS: _ PUNNING CAMMISSION � CNIL SERVICE COMM�SSION �� Hes this perso�rtn ever worKed untler a contract Por Mis department? � CIB COMMtTTEE _ YES NO � STAiF 2. Nes this parsoNfirtn ever baen a eky amployee? — YES NO _ DISTRICT CqUR7 _ 3. DDBS thfs persoMirm possess a skilt rwt normally possessetl by a�y Current eity employee? SUP70ATS WHICN COUNCIL OBJEGTIVE7 YES NO Ezplain tlt yn �nswaR on separate sheet enC atteeh w ynen shaat INR4ATING PROB�EM. ISSUE. OPPORTUNITY (Wno. NTet, When, Where. Nmy)� In order to amact an NHL Team, the City Council committed to funding a portion of a new arena wit3� the Tax Increment generated from a modified Blcek 39 Tax Increment District. This resolution changes the boundaries of the district to include the azena site and changes the district from a 15 yeu renewal and renovation district into a 25 yeaz redevelopmem district. ADVANTAGES �F APPqOVED The conversion of this district from a renewat and renovation district into a redevelopment district is to provide an alternative source of funding for the new azena in the event that the State of Minnesota fails to provide their portion of the costs. DISADYANTAGES IF APPROVED �� uL i7 �ss� �t�� A�Tf��6�� DISADVANTAGES IF NOT APPROVED- TOTAL AMOUNT OF TRANSACTION S COSTtREYENUE BUOGETED (C4RC�E ONEj YES NO FUNDiqG SOURCE AGTIYITY NUMBER FINANpAL INFOP6iATION (EXPLAIN) • �� , , �� j�-I(�( ATTAC�IMENT A Notice of Public Hearing NOTICE IS HEREBY GIVEN that a public hearing before the Council of the City of Saint Paul, Minnesota will be heid in the City Council Chambers, City Hall, 15 West Kellogg Boulevard, Saint Paul, Minnesota at 430 p.m. on September 10, 1997, to consider a proposal of the Housing and Redevelopment Authority of the City of Saint Paul (the "HIZf�") to adopt a TAX INCREMENT PINANCING PLAN FOR TI� BLOCK 39/ARENA REDEVELOPMENT TAX INCREMENT FINANCING DISTRICT (the "Biock 39(Arena Plan"). The Council will also consider an amendment to the Redevelopment Plan for the Seventh Place Redevelopment Project (the "Seventh Place Pian") (together with the Block 39/Arena Plan, the "Plans"). Copies of the Plans aze on file with the City Clerk, Room 386, City Hall, and with the HRA, Department of Planning and Economic Development, City Hall Annex - 12th Floor, 25 West Fourth Street, Saint Paul, Minnesota 55102, and aze available for inspection during regular business hours. Upon said public hearing all interested persons will be given opportunity to be heazd or submit written comments and the City Council will consider, among other matters, as provided in Minnesota Statutes, Section 469.175, Subd. 3, (1) whether the Plans wili afford maximum opportuniry consistent with the sound needs of the Ciry as a whole for the development of Block 39 and the azena site in cooperation with private enterprise, and (2) whether the Plans should be approved. The BLOCK 39lARENA REDEVELOPMENT TAX INCREMENT FINANCING DISTRICT and the Project azea in which increments can be expended encompass all properiy and adjacent rights-of-way as found on the attached map(s). Dated August 29, 1997 FRED OWiJSU, City Cierk [MAP(S) SHOWING BOUNDARIES OF NEW REDEVELOPMENT DISTRICT AND BOUNDARIES OF EXPANDED PROJECT AREA WILL BE ATTACHED TO NOTICE] �". . t ,-�. c � � ii _ _ - . " . . _ :�� . Presented By Referred To �{. �'\Co�'�`UIICil File # �� Green Sheet # 3R 3G ? )LUTION PAUL, MINNESOTA Date RESOLUTION APPROVING THE (A) AMENDMENT OF THE REDEVELOPMENT PLAN FOR THE SEVENTH PLACE REDEVELOPMENT PROJECT; (B) MODIFICATION OF THE TAX INCREMENT FINANCING PLAN FOR THE SEVENTH PLACE TAX INCREMENT' FINANCING DISTRICT, AND (C) THE CREATION OF THE BLOCK 39/ARENA REDEVELOPMENT TAX INCREMENT FINANCING DISTRICT AND THE TAX INCREMENT FINANCING PLAN RELATING THERETO ro � BE IT RESOLVED by the Council of the City of Saint Paul, Minnesota (the "Council"),as follows: Section 1. Recitals. 1.01. On 7uly 23, 1997, the council adopted its Resolution C.F. No. 97-910 calling for a public hearing on certain matters in connection with the expansion of the Seventh Place Redevelopment Project, construction of a new azena, and redevelopment of Block 39 in the City. 1.02. It has been proposed that the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the "�1RA") establish the Block 39/Arena Redevelopment Tax Increment Financing District and, in connection therewith that the City of Saint Paul (the "City") approve the creation of the Block 39/Arena Redevelopment Tax Increment Financing Dishict (the "DistricP') and the Ta�c Increment Financing Plan (the "T'IF Plan") relating thereto, all pursuant to and in accordance with Minnesota Statutes, Section 469.174 through 469.179, inclusive; and Minnesota Statutes, Sections 469.001 through 469.047, inclusive. 1.03. The III2A and the City Council have previously approved the creafion of the Block 39 Renewal and Renovation Tax Increment Financing District, however, the HRA has determined that it will not request certification from the County Auditor of the Block 39 Renewal and Renovation District, but wili instead request certification of the District. 1.04. It has also been proposed that the III2A amend the Redevelopment Plan foz the Seventh Place Redevelopment Project originally adopted on November 16, 1978 (as previously amended) and asnend the T� Increment Financing Plan for the Seventh Place Tax Increment Financing District (collectively, with the TIF Plan, the "Plans"). Such amendments shall add 42 43 44 45 46 47 48 property to the Seventh Place Redevelopment Project and will delete properiy from the Seventh Place Taac Increment District, which properry will then be included in the District. �1�� 1.05. The HRA has invesrigated the facts and has caused to be prepared the proposed Plans. 1.06. The Plamiiug Commission adopted its Resolution No. 97-68 on September 12, 1997 approving the amendment to the Redevelopment Plan for the Seventh Place Redevelopment Project. 49 50 1.07. The HRA and/or the City, as applicable, have performed all actions required by law 51 to be performed prior to the establishment of the District and the adoption of the Plans, including, 52 but not lunited to, notification of Ramsey County and School District No. 625 having taxiug 53 jurisdiction over the properry to be included in the District, and the holding of a public hearing after 54 published notice as required by law. 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 1.08. Certain written reports (the "Reports") relating to the Plans and to the activifies contemplated therein haue heretofore been prepazed by HRA and City staff and submitted to the Council andJor made a part of the City files and proceedings on the Plans. The Reports include data, information and/or substanfiation constituting or relafing to (1) the "studies and analysis" on why the District meets the "but for" test and (2) the basis far the other findings and deternvnations made in this resolution. The Council hereby confirms, ratifies and adopts the Reports, which are hereby incorporated into and made as fully part of this resolution to the same extent as if set forth in full herein. Section 2. Findings bv the City for the Approval of the Tas Increment Financing Plan for the Block 39/Arena Redevelopment TaY Increment Financin�District. 2AL The Council hereby finds that the Distzict is in the public interest and is a "redevelopment districY' pursuant to Minnesota Statutes, Secrion 469.174, Subd. 10. 2.02. The Council hereby finds that the Disirict, and the approval of the TIF Plan relating thereto, are intended and, in the judgment of this Council, the effect of such actions wiil be, to provide an impetus for redevelopment and to further the public putposes and accomplish certain objectives as specified in the TIF Plan, which is hereby incorporated herein. 2.03. The Council further finds that the proposed development or redevelopment in the District, in the opinion of the City, would not occur solely through private inveshnent within the reasonably foreseeable future and that the increased market value of the ta�:able property within the District that could reasonably be expected to occur without the use of tax increment financing (being $0) would be less than the increase in the mazket value estimated to result from the proposed development (the new development of taxable properry will cost approximately $57,000,000) after subtracting the present value of the projected tax increments for the maYimum duration of the District permitted by the TIF Plan and, therefore, the use of tas increment financing is deemed necessary; that the TIF Plan conforms to the general plan for the development or redevelopment of the City as a whole; and that the TIF Plan wili afford maximum oppoitunity consistent with the sound needs of the City as a whole, for the development of the District by private enterprise. 2.04. The City elects to make a qualifying local contribution in accordance with Minnesota Statutes, Section 273.1399, Subd. 6(d), in order to qualify the District for exemption from state aid losses set forth in Section 273.1399. 2.05. The Council fiirther fmds, declares and determines that the City made the above °�� -1�°ll 93 44 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 findings stated in this Section 2 and has set forth the reasons and supporting facts for each detennination in writing, attached hereto as Attachment A. 2.06. The City elects to calculate fiscal disparities for the Dishict in accordance with Minnesota Statutes, Section 469177, Subd. 3, clause (a), which means the fiscal disparities contribution would not be taken from within the District. Section 3. Approval of the Plans and Fur[her pocumentation. 3.01. The Plans, as presented to the Council on this date, aze hereby approved and adopted, and shall be placed on file in the office of the Executive D'uector of the HItA. 3.02. The staff of the City, the City's advisors and legal counsel aze authorized and directed to cooperate as necessary with the HRA in the implementation of the Plans and for this purpose to negotiate, draft, prepare and present to this Council for its consideration a11 further plans, resolutions, documents and contracts which may be deemed necessary for this purpose. 3.03. The auditor of Ramsey Couniy is requested to certify the originai net tax capacity of the District, as described in the TIF Plan, and to certify in each yeaz thereafter the amount by wluch the net tax capacity has increased or decreased; and the HRA is authorized and directed to forthwith transmit this request to the county auditor in such form and content as the auditor may specify, together with a list of all properties within the District for which building permits have been issued during the 18 months immediately preceding the adoprion of this resolution. Further, the county auditor shall be informed of the addition of certain property to the Seventh Place Redevelopment Project. Adoption Certified by Council Secretary BY � �` . � M�4/�ru� ' ♦ /� %. Approved by Mayor: Date r�`�°�a' � ( By: Requested by Department of: Plan 3� & Economic Development By: Form Approved b ity Attorney By: I i.ii�� _ Approved by M f r Submission to Council By: � 15077731 �� °�� DEPARTMEMiOFFiCEACOUNCIL DATEINITIATED GREEN SHEET � y � b � PED 9-16-97 CONTACT PERSON 8 PHONE INITIAVDATE INITIAL/DATE �DEPARTMENTDIRE OCINCOUNCIL Tony Scherfler (66593) p551GN O CfTYATTORNEY � CT'CLEPK NUYBENFON MUST BE ON CAUNCILAGENDA BY (�ATE) p01rtING O BUDGET DIRECTO � FIN. & MGT. SERVICES DIR. S C , � ORDEN OMAVOR(ORASSISTANn � TOTAL # OF SIGNATURE PAGES (CLIP ALL LOCATIONS FOR SIGNATURE) ACiION REQUESTE�: Resolution approving the (A) amendment of the Redevelopment Plan for the Seventh Place Redevelopment Project; modificadon of the Tac Increment Financing Plan for the Seventh Place Tax Increment Financing District, and (C) the creation of the Block 39/Arena Redevelopment Tae Increment Financing District anf the Tax Increment Financing Plan relating thereto. RECAMMENDA710NS: approve (n) or Reject (q) PEFiSONAL SERVICE CONTFiACTS MUST ANSWER THE FOLLOWING QUESTIONS: _ PLANNING COMMISSION _ CIVIL SERVICE CqMMISSION �- Has this person/firm ever worketl under a contrac[ for this department? __ CIB COMMITTEE __ YES NO _ S7AFF 2. Has this person/firm ever been a ciry employee? — YES NO _ DISiRIGi CAUar _ 3. Does this personNirm possess a skill not nortnally possessed by any current city employee? SUPPORTS WHICH COUNCIL O&IECTIVE? YES NO Explain all yes answers on separate shcet anE attach to green sheet INITIATING PROBLEM, ISSUE, OPP�RTUNITV (Whq What, When, Where, Wby�� In order to amact an NHL Team, the City Council committed to funding a portion of a new azena with the Tac Increment generated from a modified Block 39 Ta4 Increment District. This resolution changes the boundaries of the district to include the azena site and changes the district from a 15 yeu renewal and renovafion district into a 25 yeaz redevelopment district. ADVANTAGESIFAPPROVED: The conversion of this district from a renewal and renovarion district into a redevelopment dish�ict is to provide an alternative source of funding for the new azena in the event that the State of Minnesota faIls to provide their portion of the costs. DISADVANTAGES IFAPPROVED: DISADVANTAGES IF NOTAPPROVED: TOTAL AMOUN7 OF 7pANSAC710N $ COS7/REVENUE BUDGE7ED (CIRCLE ONE) YES NO FUNDIfdG SOURCE ACTIVI7Y NUMBER FINANCIAL INiORhiATION: (EXPLAIN) ��-�\°lt ATTACHIvfENT A RESOLUTION #, The reasons and facts supporting the findings for the adoption of the Tax Increment Financing Plan (the "Plan") for the Block 39/Arena Redevelopment T� Increment Financing District (the "District") as required pursuant to Minnesota Statutes, Section 469.175, Subdivision 3 are as follows: 1. Finding that the District is a redevelopment district as defzned in Minnesota Statutes, Section 469.174, Subd 10. The District is a contiguous geographic azea consisting of a portion of a project within which (i) parcels consisting of 7Q% of the area of the District aze occupied by buildings, streets, utilities, or other improvements; and (ii) 50% of the buildings aze structutally substandard. The District contains 18 parcels of land totaling 634,394 squaze feet of which 100% is occupied by buildings, streets, utilities or other improvements. A total of 14 buildings are located in the District. The "structurally substandard" determination is based on outside appraisals of 10 of the l 1 buildings on Block 39 and which demonstrate that the buildings are no longer functional or usable for the intended uses of the property and exlubit other deficiencies such that the buiidings have "negative market value", meaning that the land has higher mazket value without structures thereon than the land has with the existing structures thereon. In addition, the Saint Paul Civic Center arena e�ibits structural deficiencies, deficiencies relating to access and egress and functional deficiencies for its intended use and must be cleazed from the site in order to accommodate a structure suitable for its intended use. 2. Finding that the proposed development, in the opinion of the Council, would not occur solely through private investment within the reasonably foreseeable future and, therefore, the use of tar increment financing is deemed necessary and that the increased market value of the site that could reasonably be expected to occur without the use of tax increment financing would be Zess than the increase in the market value estimated to result from the proposed development after subtracting thepresent value oftheprojected tax increments for the maximum duration ofthe districtpermitted by the plan. Due to the fragmented ownership of the properry in the District, excessive costs for the clearance, grading, soil and pollution correction, and the fact demonstrated by external appraisals that several buildings in the District have negative market value (i.e., the property would have a higher mazket value without the present shucture(s) located there than with them), this project is feasible only through assistance, in part, from tax increment financing. The proposed development consists, in part, of an approximately 370,000 square foot office building, 950-stall parking ramp and retail space, the increase in mazket value of which is estimated to be approxnnately $57,000,000. In addifion, a new 20,000 seat azena will be coustnlcted on the site of the eacisting arena (which will be demolished), but the new arena will be publicly owned and therefore exempt properiy. Tax increment assistance is required to assist in paying the public share of the cost of the removal of the �1 -�� deficient and obsolete existing facility. The value of development eapected to occur witlaout the use of tas increment financing is $-0-, (there are no other proposals or pians to redevelop the property in the district) which is less than the estiznated increase in mazket value of the tasable properry e�pected to be created by the proposeci project (appro�mately $57,000,000) minus the present value of the projected ta�c increments (approximately $16,858,245). 3. Finding that the Tax Increment Financing PZan conforms to the general plan for the development or redevelopment of the municipaZity as a whole. The Redevelopment Plan and the modifications thereof in connection with the creation of the Dishict have been reviewed by the Platuring Commission and haue been found by resolution to conform to the Saint Paul Comprehensive Plan. 4. Finding that the Tax Increment Financing Plan for the District will afford maximum opportuniry, consistent with the sound needs of the City as a whole, for the development of the District by private enterprise. The establishment of the District will result in the facilitation of redevelopment in downtown Saint Paul and the creation of jobs for residents of the Ciry. ��-t�°II city of saint paul pianning comm�ssion resolution file number 97-68 �te September 12, 1997 WHEREAS, Minnesota Statutes require Planning Commission review of Redevelopment Plans submitted to the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the "HRA") for compliance with the Comprehensive Plan; and WIIEREAS, the HRA has transmitted to the Planning Commission an amendment to the Redevelopment Plan for the Seventh Place Redevelopment Project (the "Seventh Piace Plan") which adds certain property to the project area; and WHEREAS, the Planning Commission has reviewed the proposal to annend the Seventh Place Plan; and WHEREAS, the Planning Commission has found the proposed amendment to the Seventh Place Plan to be consistent with the Saint Paul Comprehensive Plan; and NOW, THEREFORE, BE IT RESOLED, by the Saint Paul Planning Commission, that the proposed amendment to the Seventh Place Plan is in compliance with and consistent with the intent of the Saint Paul Comprehensive Plan; and BE IT FURTHER RESOLVED, that when specific projects aze fixlly developed, the Planning Commission shall review them for conformance with specific policies of the Comprehensive Pian; and BE IT FINALLY RESOLVED, that the Planning Commission's findings be transmitted to the HRA for their consideration. moved by Maddox seconded by in favor 13 a��(�t 1 Vaught) F c . '�f �r� . \V°1� RESOLU710N 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 Presented By Referred To Council File # ✓ �_� \`V Green Sheet # sL� 3 �O � � Committee: Date RESOLUTION CALLING FOR A PUBLIC HEARING BY THE CITY COUNCII. OF THE CTTY OF SAINT PAUL ON (A) THE MODIFICATI0IV OF TFIE REDEVELOPMENT PLAN FOR THE SEVENTH PLACE REDEVELOPMENT PROdECT, AND (B) TFIE CREATION OF THE BLOCK 39/ARENA REDEVELOPMENT TAX INCREMENT FINANCING DISTRICT WHEREAS: �� 1. On November 30,1978, the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the "HRA") approved the Seventh Place Redevel�pment Plan and the Project Financing Plan related thereto by Resolution No. 78-1 I/30-1, to which the City Council of the Ciry of Saint Paul (the "Council") subsequently gave its approval by Resolution C.F. No. 272155 adopted on December 5, 1978. By Resolution No. 81-I 1/5-8 adopted November 5, 1981 and ResoVution No. 83-5125-3 adopted May 25, 1983, the HRA adopted modifications to such plans which did not require approval of the Council, and by Resolution No. 82-1/28-11 adopted amendments to the Redevelopment Plan and Project Financing Pian, which amendments were approved by the Council by Resolutions C.F. No. 278173 and 278670 adopted February 4, 1982 and May 11, 1982. The Redevelopment Plan was again amended and a Tax Increment Financing Plan for the Seventh Place Redevelopment Project was approved by the HRA on November 9, 1989 by Resolution No. 89-] 119-1, and approved by the Council by Resolution C.F. No. 89- 2028 adopted on November 9, 1989. 2. On May 28, 1997, by Resolution No. 97-5/28-9, in an effort to encourage the development and redevelopment of property in the Project area and specifically, to provide for the acquisition of land, demolition of structures, and the construction of a pazking facility and privately-owned office tower, the HRA approved the establishment of the B(ock 39 Renewal and Renovation Tax Increment Financing District (the "Renewal District") and, in connection with the creation of the Renewal District, approved (i) the tas increment financing plan relating thereto, (ii) an amendment ta the Redevelopment Plan for the Seventh Place Redevelopment Project, and (iii) an amendment to the Tax Increment Financing Plan for the Seveaih Place Redevelopment Project. 3. On May 28, 1997, by Resolution C.F, I�o. 97-6b8, the Council approved the documents listed in pazagraph 2 above, and made the necessary fmdings as required by law. 4. The Renewal District was formed by removing Block 39 &om the Seventh Place Tas Increment District by amending the Ta�c Increment Financing Plan for such district, and creating a new renewal and renovation district encompassing Biock 39. 5. In a further effort to encourage the redevelopment of an approximately 12.5 acre site located in the central business district of downtown Saint Paul, specificaliy, to provide for the acquisition land, demolition of shvctures, and the construction of an approximately 20,000 seat azena for professional hockey games and other large 1557337 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 S8 59 60 61 62 63 64 65 66 67 68 b9 70 ��b` entertainment events, as a replacement of the existing RiverCentre Arena, it has been proposed that certain pro� be added to the geographic area of the Seventh Place Redevelopment Project Area, and the Renewal Distr rp.2, oonverted from a renewai and renovation district into a redevelopment district, with a 25-yeaz duration, an� __.Q�'+�� connection with such actions, the Council approve (i} the tax increment fmancing plan relating to the Block 39/Arena Redevelopment Tax Increment Financing District (the "District") and (ii) a fiu2her amendment to�the redevelopment plan for the Seventh Place Redevelopment Project (coilectively, the "Plans"), all pursuant to and in accordance with Minnesota Statutes, Sections 469.001 to 469.047, inclusive; and Minnesota Statutes, Section 469.174 through 469.179, inclusive. 6. It is also proposed that the Council call for a public hearing regarding the Plans and direct that the Plans be sent by the HRA to the Ciry of Saint Paul Planning Commission (the "Planning Commission") and the applicable taxing jurisdictions. RESOLVED, by the City Council of the City of Saint Paul, Minnesota (the "City"), as follows: 1. Publ�_ c Hearing. This council shall meet on Wednesday, September 10, 1997, at approximately 4:30 p.m., to hold a public hearing on the proposed Plans pursuant to and in accordance with Minnesota Statutes, Sections 469.001 to 469.047 and Sections 469.174 to 469.179, inclusive, as amended, in an effort to encourage the redevelopment of a 12.5 acre site located in the central business district of the City to provide for the construction of an approximately 20,000 seat arena for professional hockey games and other lazge entertainment events, which wi13 replace the existing RiverCentre arena. 2. Filina of Plans• Notice of Hearing. The HRA staff is hereby authorized to finalize the Plans and is directed to forward the Plans to the appropriate taYing jurisdictions including Ramsey County and Independent School District No. 625, and to the Planning Commission. The City Clerk is authorized and directed to cause notice of the public hearing, substantially in the form attached hereto as Attachment A, together with an appropriate map as required by ]aw, to be published at least once in the officia] newspaper of the City on August 29, 1997, and to place a copy of the Plans as finalized on file in the City Clerk's office at City Hall and to make such copies available for iaspection by ihe public. C . �' . -�-�' �'l ' � � b Requested by Department of: By: �� E� om' D v 10 ne / / / $y .{��GC��{ �L ��/�� {L V� Form Approved by City Attorney BY' ��.KC t'j(• V�/ Appzoved by Ma for S to Council gy: —� ` �' 1�� 1 1557337 Approved by Mayor: Date � 1� ` . AFRICE/COUNpL DATE INITIATED GREEN SHEE (�� _��9 3 6 6 P�D 7-16-97 CON7ACT PERSON E PHONE INITIAVDATE �NRIAVDATE �DEPARTMEMD�RE�CTOR — �CRYCAUNCIL Tony Schertler (66593) ASSIGN a C�7Y ATTOfiNEY q/) •`)) J/) y7 � CRY CLEAK YUST 2E ON CqUNCIL AGENDA BY (�ATEJ NU46EP FOP -_-'�--�=y--` J J� � S , C i S� ROUT�NG � BUDGEf DIRELTOR � FIN. d MGT SEBVICES DIF. ORDER O MqYOR (OR ASSISTAN'T) O TOTAL # OF SIGNATURE PAGES (CLIP ALL LOCATIONS FOR SIGNATURE) ACTION REQUESTED: Resoluaon calling for a puhlic heazmg by the City Council of the City of Samt Paul on (A) the malificarion of the Redevelopment Plan for the Sevenih Place Redevelopment Project, and (B) the creation of the Block 39/Arena Redevelopment Tax Increment Financing RECOMMENDATIONS: Approve (A) or Rajact (R) PERSONAL SERVICE CONTRACTS MUST ANSWER TFfE FOILOWING QUESTIOHS: _ PUNNING CAMMISSION � CNIL SERVICE COMM�SSION �� Hes this perso�rtn ever worKed untler a contract Por Mis department? � CIB COMMtTTEE _ YES NO � STAiF 2. Nes this parsoNfirtn ever baen a eky amployee? — YES NO _ DISTRICT CqUR7 _ 3. DDBS thfs persoMirm possess a skilt rwt normally possessetl by a�y Current eity employee? SUP70ATS WHICN COUNCIL OBJEGTIVE7 YES NO Ezplain tlt yn �nswaR on separate sheet enC atteeh w ynen shaat INR4ATING PROB�EM. ISSUE. OPPORTUNITY (Wno. NTet, When, Where. Nmy)� In order to amact an NHL Team, the City Council committed to funding a portion of a new arena wit3� the Tax Increment generated from a modified Blcek 39 Tax Increment District. This resolution changes the boundaries of the district to include the azena site and changes the district from a 15 yeu renewal and renovation district into a 25 yeaz redevelopmem district. ADVANTAGES �F APPqOVED The conversion of this district from a renewat and renovation district into a redevelopment district is to provide an alternative source of funding for the new azena in the event that the State of Minnesota fails to provide their portion of the costs. DISADYANTAGES IF APPROVED �� uL i7 �ss� �t�� A�Tf��6�� DISADVANTAGES IF NOT APPROVED- TOTAL AMOUNT OF TRANSACTION S COSTtREYENUE BUOGETED (C4RC�E ONEj YES NO FUNDiqG SOURCE AGTIYITY NUMBER FINANpAL INFOP6iATION (EXPLAIN) • �� , , �� j�-I(�( ATTAC�IMENT A Notice of Public Hearing NOTICE IS HEREBY GIVEN that a public hearing before the Council of the City of Saint Paul, Minnesota will be heid in the City Council Chambers, City Hall, 15 West Kellogg Boulevard, Saint Paul, Minnesota at 430 p.m. on September 10, 1997, to consider a proposal of the Housing and Redevelopment Authority of the City of Saint Paul (the "HIZf�") to adopt a TAX INCREMENT PINANCING PLAN FOR TI� BLOCK 39/ARENA REDEVELOPMENT TAX INCREMENT FINANCING DISTRICT (the "Biock 39(Arena Plan"). The Council will also consider an amendment to the Redevelopment Plan for the Seventh Place Redevelopment Project (the "Seventh Place Pian") (together with the Block 39/Arena Plan, the "Plans"). Copies of the Plans aze on file with the City Clerk, Room 386, City Hall, and with the HRA, Department of Planning and Economic Development, City Hall Annex - 12th Floor, 25 West Fourth Street, Saint Paul, Minnesota 55102, and aze available for inspection during regular business hours. Upon said public hearing all interested persons will be given opportunity to be heazd or submit written comments and the City Council will consider, among other matters, as provided in Minnesota Statutes, Section 469.175, Subd. 3, (1) whether the Plans wili afford maximum opportuniry consistent with the sound needs of the Ciry as a whole for the development of Block 39 and the azena site in cooperation with private enterprise, and (2) whether the Plans should be approved. The BLOCK 39lARENA REDEVELOPMENT TAX INCREMENT FINANCING DISTRICT and the Project azea in which increments can be expended encompass all properiy and adjacent rights-of-way as found on the attached map(s). Dated August 29, 1997 FRED OWiJSU, City Cierk [MAP(S) SHOWING BOUNDARIES OF NEW REDEVELOPMENT DISTRICT AND BOUNDARIES OF EXPANDED PROJECT AREA WILL BE ATTACHED TO NOTICE] �". . t ,-�. c � � ii _ _ - . " . . _ :�� . Presented By Referred To �{. �'\Co�'�`UIICil File # �� Green Sheet # 3R 3G ? )LUTION PAUL, MINNESOTA Date RESOLUTION APPROVING THE (A) AMENDMENT OF THE REDEVELOPMENT PLAN FOR THE SEVENTH PLACE REDEVELOPMENT PROJECT; (B) MODIFICATION OF THE TAX INCREMENT FINANCING PLAN FOR THE SEVENTH PLACE TAX INCREMENT' FINANCING DISTRICT, AND (C) THE CREATION OF THE BLOCK 39/ARENA REDEVELOPMENT TAX INCREMENT FINANCING DISTRICT AND THE TAX INCREMENT FINANCING PLAN RELATING THERETO ro � BE IT RESOLVED by the Council of the City of Saint Paul, Minnesota (the "Council"),as follows: Section 1. Recitals. 1.01. On 7uly 23, 1997, the council adopted its Resolution C.F. No. 97-910 calling for a public hearing on certain matters in connection with the expansion of the Seventh Place Redevelopment Project, construction of a new azena, and redevelopment of Block 39 in the City. 1.02. It has been proposed that the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the "�1RA") establish the Block 39/Arena Redevelopment Tax Increment Financing District and, in connection therewith that the City of Saint Paul (the "City") approve the creation of the Block 39/Arena Redevelopment Tax Increment Financing Dishict (the "DistricP') and the Ta�c Increment Financing Plan (the "T'IF Plan") relating thereto, all pursuant to and in accordance with Minnesota Statutes, Section 469.174 through 469.179, inclusive; and Minnesota Statutes, Sections 469.001 through 469.047, inclusive. 1.03. The III2A and the City Council have previously approved the creafion of the Block 39 Renewal and Renovation Tax Increment Financing District, however, the HRA has determined that it will not request certification from the County Auditor of the Block 39 Renewal and Renovation District, but wili instead request certification of the District. 1.04. It has also been proposed that the III2A amend the Redevelopment Plan foz the Seventh Place Redevelopment Project originally adopted on November 16, 1978 (as previously amended) and asnend the T� Increment Financing Plan for the Seventh Place Tax Increment Financing District (collectively, with the TIF Plan, the "Plans"). Such amendments shall add 42 43 44 45 46 47 48 property to the Seventh Place Redevelopment Project and will delete properiy from the Seventh Place Taac Increment District, which properry will then be included in the District. �1�� 1.05. The HRA has invesrigated the facts and has caused to be prepared the proposed Plans. 1.06. The Plamiiug Commission adopted its Resolution No. 97-68 on September 12, 1997 approving the amendment to the Redevelopment Plan for the Seventh Place Redevelopment Project. 49 50 1.07. The HRA and/or the City, as applicable, have performed all actions required by law 51 to be performed prior to the establishment of the District and the adoption of the Plans, including, 52 but not lunited to, notification of Ramsey County and School District No. 625 having taxiug 53 jurisdiction over the properry to be included in the District, and the holding of a public hearing after 54 published notice as required by law. 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 1.08. Certain written reports (the "Reports") relating to the Plans and to the activifies contemplated therein haue heretofore been prepazed by HRA and City staff and submitted to the Council andJor made a part of the City files and proceedings on the Plans. The Reports include data, information and/or substanfiation constituting or relafing to (1) the "studies and analysis" on why the District meets the "but for" test and (2) the basis far the other findings and deternvnations made in this resolution. The Council hereby confirms, ratifies and adopts the Reports, which are hereby incorporated into and made as fully part of this resolution to the same extent as if set forth in full herein. Section 2. Findings bv the City for the Approval of the Tas Increment Financing Plan for the Block 39/Arena Redevelopment TaY Increment Financin�District. 2AL The Council hereby finds that the Distzict is in the public interest and is a "redevelopment districY' pursuant to Minnesota Statutes, Secrion 469.174, Subd. 10. 2.02. The Council hereby finds that the Disirict, and the approval of the TIF Plan relating thereto, are intended and, in the judgment of this Council, the effect of such actions wiil be, to provide an impetus for redevelopment and to further the public putposes and accomplish certain objectives as specified in the TIF Plan, which is hereby incorporated herein. 2.03. The Council further finds that the proposed development or redevelopment in the District, in the opinion of the City, would not occur solely through private inveshnent within the reasonably foreseeable future and that the increased market value of the ta�:able property within the District that could reasonably be expected to occur without the use of tax increment financing (being $0) would be less than the increase in the mazket value estimated to result from the proposed development (the new development of taxable properry will cost approximately $57,000,000) after subtracting the present value of the projected tax increments for the maYimum duration of the District permitted by the TIF Plan and, therefore, the use of tas increment financing is deemed necessary; that the TIF Plan conforms to the general plan for the development or redevelopment of the City as a whole; and that the TIF Plan wili afford maximum oppoitunity consistent with the sound needs of the City as a whole, for the development of the District by private enterprise. 2.04. The City elects to make a qualifying local contribution in accordance with Minnesota Statutes, Section 273.1399, Subd. 6(d), in order to qualify the District for exemption from state aid losses set forth in Section 273.1399. 2.05. The Council fiirther fmds, declares and determines that the City made the above °�� -1�°ll 93 44 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 findings stated in this Section 2 and has set forth the reasons and supporting facts for each detennination in writing, attached hereto as Attachment A. 2.06. The City elects to calculate fiscal disparities for the Dishict in accordance with Minnesota Statutes, Section 469177, Subd. 3, clause (a), which means the fiscal disparities contribution would not be taken from within the District. Section 3. Approval of the Plans and Fur[her pocumentation. 3.01. The Plans, as presented to the Council on this date, aze hereby approved and adopted, and shall be placed on file in the office of the Executive D'uector of the HItA. 3.02. The staff of the City, the City's advisors and legal counsel aze authorized and directed to cooperate as necessary with the HRA in the implementation of the Plans and for this purpose to negotiate, draft, prepare and present to this Council for its consideration a11 further plans, resolutions, documents and contracts which may be deemed necessary for this purpose. 3.03. The auditor of Ramsey Couniy is requested to certify the originai net tax capacity of the District, as described in the TIF Plan, and to certify in each yeaz thereafter the amount by wluch the net tax capacity has increased or decreased; and the HRA is authorized and directed to forthwith transmit this request to the county auditor in such form and content as the auditor may specify, together with a list of all properties within the District for which building permits have been issued during the 18 months immediately preceding the adoprion of this resolution. Further, the county auditor shall be informed of the addition of certain property to the Seventh Place Redevelopment Project. Adoption Certified by Council Secretary BY � �` . � M�4/�ru� ' ♦ /� %. Approved by Mayor: Date r�`�°�a' � ( By: Requested by Department of: Plan 3� & Economic Development By: Form Approved b ity Attorney By: I i.ii�� _ Approved by M f r Submission to Council By: � 15077731 �� °�� DEPARTMEMiOFFiCEACOUNCIL DATEINITIATED GREEN SHEET � y � b � PED 9-16-97 CONTACT PERSON 8 PHONE INITIAVDATE INITIAL/DATE �DEPARTMENTDIRE OCINCOUNCIL Tony Scherfler (66593) p551GN O CfTYATTORNEY � CT'CLEPK NUYBENFON MUST BE ON CAUNCILAGENDA BY (�ATE) p01rtING O BUDGET DIRECTO � FIN. & MGT. SERVICES DIR. S C , � ORDEN OMAVOR(ORASSISTANn � TOTAL # OF SIGNATURE PAGES (CLIP ALL LOCATIONS FOR SIGNATURE) ACiION REQUESTE�: Resolution approving the (A) amendment of the Redevelopment Plan for the Seventh Place Redevelopment Project; modificadon of the Tac Increment Financing Plan for the Seventh Place Tax Increment Financing District, and (C) the creation of the Block 39/Arena Redevelopment Tae Increment Financing District anf the Tax Increment Financing Plan relating thereto. RECAMMENDA710NS: approve (n) or Reject (q) PEFiSONAL SERVICE CONTFiACTS MUST ANSWER THE FOLLOWING QUESTIONS: _ PLANNING COMMISSION _ CIVIL SERVICE CqMMISSION �- Has this person/firm ever worketl under a contrac[ for this department? __ CIB COMMITTEE __ YES NO _ S7AFF 2. Has this person/firm ever been a ciry employee? — YES NO _ DISiRIGi CAUar _ 3. Does this personNirm possess a skill not nortnally possessed by any current city employee? SUPPORTS WHICH COUNCIL O&IECTIVE? YES NO Explain all yes answers on separate shcet anE attach to green sheet INITIATING PROBLEM, ISSUE, OPP�RTUNITV (Whq What, When, Where, Wby�� In order to amact an NHL Team, the City Council committed to funding a portion of a new azena with the Tac Increment generated from a modified Block 39 Ta4 Increment District. This resolution changes the boundaries of the district to include the azena site and changes the district from a 15 yeu renewal and renovafion district into a 25 yeaz redevelopment district. ADVANTAGESIFAPPROVED: The conversion of this district from a renewal and renovarion district into a redevelopment dish�ict is to provide an alternative source of funding for the new azena in the event that the State of Minnesota faIls to provide their portion of the costs. DISADVANTAGES IFAPPROVED: DISADVANTAGES IF NOTAPPROVED: TOTAL AMOUN7 OF 7pANSAC710N $ COS7/REVENUE BUDGE7ED (CIRCLE ONE) YES NO FUNDIfdG SOURCE ACTIVI7Y NUMBER FINANCIAL INiORhiATION: (EXPLAIN) ��-�\°lt ATTACHIvfENT A RESOLUTION #, The reasons and facts supporting the findings for the adoption of the Tax Increment Financing Plan (the "Plan") for the Block 39/Arena Redevelopment T� Increment Financing District (the "District") as required pursuant to Minnesota Statutes, Section 469.175, Subdivision 3 are as follows: 1. Finding that the District is a redevelopment district as defzned in Minnesota Statutes, Section 469.174, Subd 10. The District is a contiguous geographic azea consisting of a portion of a project within which (i) parcels consisting of 7Q% of the area of the District aze occupied by buildings, streets, utilities, or other improvements; and (ii) 50% of the buildings aze structutally substandard. The District contains 18 parcels of land totaling 634,394 squaze feet of which 100% is occupied by buildings, streets, utilities or other improvements. A total of 14 buildings are located in the District. The "structurally substandard" determination is based on outside appraisals of 10 of the l 1 buildings on Block 39 and which demonstrate that the buildings are no longer functional or usable for the intended uses of the property and exlubit other deficiencies such that the buiidings have "negative market value", meaning that the land has higher mazket value without structures thereon than the land has with the existing structures thereon. In addition, the Saint Paul Civic Center arena e�ibits structural deficiencies, deficiencies relating to access and egress and functional deficiencies for its intended use and must be cleazed from the site in order to accommodate a structure suitable for its intended use. 2. Finding that the proposed development, in the opinion of the Council, would not occur solely through private investment within the reasonably foreseeable future and, therefore, the use of tar increment financing is deemed necessary and that the increased market value of the site that could reasonably be expected to occur without the use of tax increment financing would be Zess than the increase in the market value estimated to result from the proposed development after subtracting thepresent value oftheprojected tax increments for the maximum duration ofthe districtpermitted by the plan. Due to the fragmented ownership of the properry in the District, excessive costs for the clearance, grading, soil and pollution correction, and the fact demonstrated by external appraisals that several buildings in the District have negative market value (i.e., the property would have a higher mazket value without the present shucture(s) located there than with them), this project is feasible only through assistance, in part, from tax increment financing. The proposed development consists, in part, of an approximately 370,000 square foot office building, 950-stall parking ramp and retail space, the increase in mazket value of which is estimated to be approxnnately $57,000,000. In addifion, a new 20,000 seat azena will be coustnlcted on the site of the eacisting arena (which will be demolished), but the new arena will be publicly owned and therefore exempt properiy. Tax increment assistance is required to assist in paying the public share of the cost of the removal of the �1 -�� deficient and obsolete existing facility. The value of development eapected to occur witlaout the use of tas increment financing is $-0-, (there are no other proposals or pians to redevelop the property in the district) which is less than the estiznated increase in mazket value of the tasable properry e�pected to be created by the proposeci project (appro�mately $57,000,000) minus the present value of the projected ta�c increments (approximately $16,858,245). 3. Finding that the Tax Increment Financing PZan conforms to the general plan for the development or redevelopment of the municipaZity as a whole. The Redevelopment Plan and the modifications thereof in connection with the creation of the Dishict have been reviewed by the Platuring Commission and haue been found by resolution to conform to the Saint Paul Comprehensive Plan. 4. Finding that the Tax Increment Financing Plan for the District will afford maximum opportuniry, consistent with the sound needs of the City as a whole, for the development of the District by private enterprise. The establishment of the District will result in the facilitation of redevelopment in downtown Saint Paul and the creation of jobs for residents of the Ciry. ��-t�°II city of saint paul pianning comm�ssion resolution file number 97-68 �te September 12, 1997 WHEREAS, Minnesota Statutes require Planning Commission review of Redevelopment Plans submitted to the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the "HRA") for compliance with the Comprehensive Plan; and WIIEREAS, the HRA has transmitted to the Planning Commission an amendment to the Redevelopment Plan for the Seventh Place Redevelopment Project (the "Seventh Piace Plan") which adds certain property to the project area; and WHEREAS, the Planning Commission has reviewed the proposal to annend the Seventh Place Plan; and WHEREAS, the Planning Commission has found the proposed amendment to the Seventh Place Plan to be consistent with the Saint Paul Comprehensive Plan; and NOW, THEREFORE, BE IT RESOLED, by the Saint Paul Planning Commission, that the proposed amendment to the Seventh Place Plan is in compliance with and consistent with the intent of the Saint Paul Comprehensive Plan; and BE IT FURTHER RESOLVED, that when specific projects aze fixlly developed, the Planning Commission shall review them for conformance with specific policies of the Comprehensive Pian; and BE IT FINALLY RESOLVED, that the Planning Commission's findings be transmitted to the HRA for their consideration. moved by Maddox seconded by in favor 13 a��(�t 1 Vaught) F c . '�f �r� . \V°1� RESOLU710N 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 Presented By Referred To Council File # ✓ �_� \`V Green Sheet # sL� 3 �O � � Committee: Date RESOLUTION CALLING FOR A PUBLIC HEARING BY THE CITY COUNCII. OF THE CTTY OF SAINT PAUL ON (A) THE MODIFICATI0IV OF TFIE REDEVELOPMENT PLAN FOR THE SEVENTH PLACE REDEVELOPMENT PROdECT, AND (B) TFIE CREATION OF THE BLOCK 39/ARENA REDEVELOPMENT TAX INCREMENT FINANCING DISTRICT WHEREAS: �� 1. On November 30,1978, the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the "HRA") approved the Seventh Place Redevel�pment Plan and the Project Financing Plan related thereto by Resolution No. 78-1 I/30-1, to which the City Council of the Ciry of Saint Paul (the "Council") subsequently gave its approval by Resolution C.F. No. 272155 adopted on December 5, 1978. By Resolution No. 81-I 1/5-8 adopted November 5, 1981 and ResoVution No. 83-5125-3 adopted May 25, 1983, the HRA adopted modifications to such plans which did not require approval of the Council, and by Resolution No. 82-1/28-11 adopted amendments to the Redevelopment Plan and Project Financing Pian, which amendments were approved by the Council by Resolutions C.F. No. 278173 and 278670 adopted February 4, 1982 and May 11, 1982. The Redevelopment Plan was again amended and a Tax Increment Financing Plan for the Seventh Place Redevelopment Project was approved by the HRA on November 9, 1989 by Resolution No. 89-] 119-1, and approved by the Council by Resolution C.F. No. 89- 2028 adopted on November 9, 1989. 2. On May 28, 1997, by Resolution No. 97-5/28-9, in an effort to encourage the development and redevelopment of property in the Project area and specifically, to provide for the acquisition of land, demolition of structures, and the construction of a pazking facility and privately-owned office tower, the HRA approved the establishment of the B(ock 39 Renewal and Renovation Tax Increment Financing District (the "Renewal District") and, in connection with the creation of the Renewal District, approved (i) the tas increment financing plan relating thereto, (ii) an amendment ta the Redevelopment Plan for the Seventh Place Redevelopment Project, and (iii) an amendment to the Tax Increment Financing Plan for the Seveaih Place Redevelopment Project. 3. On May 28, 1997, by Resolution C.F, I�o. 97-6b8, the Council approved the documents listed in pazagraph 2 above, and made the necessary fmdings as required by law. 4. The Renewal District was formed by removing Block 39 &om the Seventh Place Tas Increment District by amending the Ta�c Increment Financing Plan for such district, and creating a new renewal and renovation district encompassing Biock 39. 5. In a further effort to encourage the redevelopment of an approximately 12.5 acre site located in the central business district of downtown Saint Paul, specificaliy, to provide for the acquisition land, demolition of shvctures, and the construction of an approximately 20,000 seat azena for professional hockey games and other large 1557337 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 S8 59 60 61 62 63 64 65 66 67 68 b9 70 ��b` entertainment events, as a replacement of the existing RiverCentre Arena, it has been proposed that certain pro� be added to the geographic area of the Seventh Place Redevelopment Project Area, and the Renewal Distr rp.2, oonverted from a renewai and renovation district into a redevelopment district, with a 25-yeaz duration, an� __.Q�'+�� connection with such actions, the Council approve (i} the tax increment fmancing plan relating to the Block 39/Arena Redevelopment Tax Increment Financing District (the "District") and (ii) a fiu2her amendment to�the redevelopment plan for the Seventh Place Redevelopment Project (coilectively, the "Plans"), all pursuant to and in accordance with Minnesota Statutes, Sections 469.001 to 469.047, inclusive; and Minnesota Statutes, Section 469.174 through 469.179, inclusive. 6. It is also proposed that the Council call for a public hearing regarding the Plans and direct that the Plans be sent by the HRA to the Ciry of Saint Paul Planning Commission (the "Planning Commission") and the applicable taxing jurisdictions. RESOLVED, by the City Council of the City of Saint Paul, Minnesota (the "City"), as follows: 1. Publ�_ c Hearing. This council shall meet on Wednesday, September 10, 1997, at approximately 4:30 p.m., to hold a public hearing on the proposed Plans pursuant to and in accordance with Minnesota Statutes, Sections 469.001 to 469.047 and Sections 469.174 to 469.179, inclusive, as amended, in an effort to encourage the redevelopment of a 12.5 acre site located in the central business district of the City to provide for the construction of an approximately 20,000 seat arena for professional hockey games and other lazge entertainment events, which wi13 replace the existing RiverCentre arena. 2. Filina of Plans• Notice of Hearing. The HRA staff is hereby authorized to finalize the Plans and is directed to forward the Plans to the appropriate taYing jurisdictions including Ramsey County and Independent School District No. 625, and to the Planning Commission. The City Clerk is authorized and directed to cause notice of the public hearing, substantially in the form attached hereto as Attachment A, together with an appropriate map as required by ]aw, to be published at least once in the officia] newspaper of the City on August 29, 1997, and to place a copy of the Plans as finalized on file in the City Clerk's office at City Hall and to make such copies available for iaspection by ihe public. C . �' . -�-�' �'l ' � � b Requested by Department of: By: �� E� om' D v 10 ne / / / $y .{��GC��{ �L ��/�� {L V� Form Approved by City Attorney BY' ��.KC t'j(• V�/ Appzoved by Ma for S to Council gy: —� ` �' 1�� 1 1557337 Approved by Mayor: Date � 1� ` . AFRICE/COUNpL DATE INITIATED GREEN SHEE (�� _��9 3 6 6 P�D 7-16-97 CON7ACT PERSON E PHONE INITIAVDATE �NRIAVDATE �DEPARTMEMD�RE�CTOR — �CRYCAUNCIL Tony Schertler (66593) ASSIGN a C�7Y ATTOfiNEY q/) •`)) J/) y7 � CRY CLEAK YUST 2E ON CqUNCIL AGENDA BY (�ATEJ NU46EP FOP -_-'�--�=y--` J J� � S , C i S� ROUT�NG � BUDGEf DIRELTOR � FIN. d MGT SEBVICES DIF. ORDER O MqYOR (OR ASSISTAN'T) O TOTAL # OF SIGNATURE PAGES (CLIP ALL LOCATIONS FOR SIGNATURE) ACTION REQUESTED: Resoluaon calling for a puhlic heazmg by the City Council of the City of Samt Paul on (A) the malificarion of the Redevelopment Plan for the Sevenih Place Redevelopment Project, and (B) the creation of the Block 39/Arena Redevelopment Tax Increment Financing RECOMMENDATIONS: Approve (A) or Rajact (R) PERSONAL SERVICE CONTRACTS MUST ANSWER TFfE FOILOWING QUESTIOHS: _ PUNNING CAMMISSION � CNIL SERVICE COMM�SSION �� Hes this perso�rtn ever worKed untler a contract Por Mis department? � CIB COMMtTTEE _ YES NO � STAiF 2. Nes this parsoNfirtn ever baen a eky amployee? — YES NO _ DISTRICT CqUR7 _ 3. DDBS thfs persoMirm possess a skilt rwt normally possessetl by a�y Current eity employee? SUP70ATS WHICN COUNCIL OBJEGTIVE7 YES NO Ezplain tlt yn �nswaR on separate sheet enC atteeh w ynen shaat INR4ATING PROB�EM. ISSUE. OPPORTUNITY (Wno. NTet, When, Where. Nmy)� In order to amact an NHL Team, the City Council committed to funding a portion of a new arena wit3� the Tax Increment generated from a modified Blcek 39 Tax Increment District. This resolution changes the boundaries of the district to include the azena site and changes the district from a 15 yeu renewal and renovation district into a 25 yeaz redevelopmem district. ADVANTAGES �F APPqOVED The conversion of this district from a renewat and renovation district into a redevelopment district is to provide an alternative source of funding for the new azena in the event that the State of Minnesota fails to provide their portion of the costs. DISADYANTAGES IF APPROVED �� uL i7 �ss� �t�� A�Tf��6�� DISADVANTAGES IF NOT APPROVED- TOTAL AMOUNT OF TRANSACTION S COSTtREYENUE BUOGETED (C4RC�E ONEj YES NO FUNDiqG SOURCE AGTIYITY NUMBER FINANpAL INFOP6iATION (EXPLAIN) • �� , , �� j�-I(�( ATTAC�IMENT A Notice of Public Hearing NOTICE IS HEREBY GIVEN that a public hearing before the Council of the City of Saint Paul, Minnesota will be heid in the City Council Chambers, City Hall, 15 West Kellogg Boulevard, Saint Paul, Minnesota at 430 p.m. on September 10, 1997, to consider a proposal of the Housing and Redevelopment Authority of the City of Saint Paul (the "HIZf�") to adopt a TAX INCREMENT PINANCING PLAN FOR TI� BLOCK 39/ARENA REDEVELOPMENT TAX INCREMENT FINANCING DISTRICT (the "Biock 39(Arena Plan"). The Council will also consider an amendment to the Redevelopment Plan for the Seventh Place Redevelopment Project (the "Seventh Place Pian") (together with the Block 39/Arena Plan, the "Plans"). Copies of the Plans aze on file with the City Clerk, Room 386, City Hall, and with the HRA, Department of Planning and Economic Development, City Hall Annex - 12th Floor, 25 West Fourth Street, Saint Paul, Minnesota 55102, and aze available for inspection during regular business hours. Upon said public hearing all interested persons will be given opportunity to be heazd or submit written comments and the City Council will consider, among other matters, as provided in Minnesota Statutes, Section 469.175, Subd. 3, (1) whether the Plans wili afford maximum opportuniry consistent with the sound needs of the Ciry as a whole for the development of Block 39 and the azena site in cooperation with private enterprise, and (2) whether the Plans should be approved. The BLOCK 39lARENA REDEVELOPMENT TAX INCREMENT FINANCING DISTRICT and the Project azea in which increments can be expended encompass all properiy and adjacent rights-of-way as found on the attached map(s). Dated August 29, 1997 FRED OWiJSU, City Cierk [MAP(S) SHOWING BOUNDARIES OF NEW REDEVELOPMENT DISTRICT AND BOUNDARIES OF EXPANDED PROJECT AREA WILL BE ATTACHED TO NOTICE]