03-135N e�a � c rs : o n1 0�-
cxti���. 'D ; <.�o�...«A
��� s. a� �3
RESOLUTION
council File # Q3 • �'3S
Resolution #
Green Sheet # ei� 4 (.�9
CITY OF SAINT PAUL, MINNESOTA
Presented By
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Referred To
Committee: Date
, 11
RESOLUTION APPROVING THE
HOUSING DEVELOPMENT AND REDEVELOPMENT PLAN
AND THE ESTABLISIiMENT OF THE
BRIDGECREEK SEIVIOR PLACE TAX INCREMENT
FINANCING DISTRICT AND
APPROVING A TAX INCREMENT FINANCING PLAN THEREFOR
WHEREAS, the City Council of the City of Saint Paul (the "Council") has the statutory responsibility
under Minnesota Statutes, Section 469.028, to approve redevelopment plans and projects of the Housing and
Redevelopment Authority of the City of Saint Paul, Minnesota (the "HRA"), after public hearing thereon; and
WHEREAS, Minnesota Statutes, Section 469.175 requires that before a county auditor may certify a
tax increment financing district created under Minnesota Statutes, Section 469.174 to 4691799 (the "Tax
Increment Act") the governing body of the municipality must approve the tax increment financing plan after a
public hearing thereon; and
WHEREAS, Minnesota Statutes Section 469.02'7 requires that, prior to adopting a redevelopment plan,
the HRA transmit the redevelopment plan to the planning commission and request the written opinion of the
planning commission on the redevelopment plan; and
WIIEREAS, the Saint Paul Planning Commission has reviewed the Housing Development and
Redevelopment Plan (the "Redevelopment Plan") and approved the same on January 24, 2003 as being in
conformity with the Saint Paul Comprehensive Plan and the general plan for the development and
redevelopment of the City as a whole (the written opinion of the Saint Paul Planning Commission is attached
hereto); and
WHEREAS, the HRA has asked the Council to approve the creation, within the Project Area, of a Tax
Increment Financing District as a housing tax increment financing district under Minnesota Statutes, Section
469.174, Subdivision 11 (the "Tax Increment Financing District"), and the adoption of a T� Increment
Financing Plan therefor, all pursuant to and in accordance with Minnesota Statutes, Secfion 469.174 ttu�ough
4691799 (the "T� Increment Act"); and
WHEREAS, the HRA has performed all actions required by law to be performed prior to the creation
of the Tax Increment Financing District and adoption of the Tax Increment Plan therefor, including, but not
limited to, notification of the Ramsey County Commissioner represenfing the area of the County in which the
Tax Increment Financing District is located, and delivering a copy of the Tax Increment Financing Plan to
Ramsey County and Independent School District Number 625, which have taxing jurisdiction over the
property to be included in the Tax Increment District; and
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WHEREAS, on this date, the City Council conducted a public hearing on the Redevelopment Plan and
the adoption of the T� Increment Financing Plan, after published notice thereof; and
WIIEREAS, at said public hearing the City Council heard testimony from all interested parties on the
Redevelopment Plan and Tas Increment Financing Plan; and
WHEREAS, the City Council has considered the fmdings and deternunations of the Saint Paul
Planning Commission and the I-IR A respecting the Project, Redevelopment Plan, Tax Increment Financing
District and Tax Increment Financing Plan, together with the documentation submitted in support of the same
and has taken into account the information and knowledge gained in hearings upon and during consideration
of other matters relating to the developments proposed for the Project.
Section 1. Approval of the Redevelopment Plan.
1.01 It is hereby found and determined that the undertakings and site of the Project, as described in
the Redevelopment Plan, as amended, constitutes a"housing project" within the meaning of Minnesota
Statutes, Section 469.002, Subdivision 13. It is hereby found and determined that the land in the Project Area
would not be made available for, nor would redevelopment be financially feasible without the public
improvements and the financial assistance proposed for the Project. It is hereby found and determined that
the Redevelopment Plan will afford maximum opportunity, consistent with the sound needs of the locality as
a whole, for the redevelopment of such area by private enterprise. It is hereby found and determined that the
Redevelopment Plan, as amended, conforms to the Saint Paul Comprehensive Plan and the general plan for
the development of the locality as a whole.
1.02 The Redevelopment Plan is hereby approved as in the public interest and as necessary in order
to carry out the development and redevelopment of the Project Area in accordance with the objectives and
purposes in said Redevelopment Plan provided thereby to eliminate the conditions identified in said
Redevelopment Plan and accomplish the provision of public improvements and private developments
contemplated by said Redevelopment Plan in the furtherance of the general welfare of the citizens of Saint
Paul.
Section 2. Findings for the Creation of the Bridgecreek Senior Place Tax Increment Financing District and
Adoption of a Tas Increment Financing Plan therefor.
2.01 The City Council hereby finds that the creation of the Bridgecreek Senior Place T� Increment
Financing District and adoption of the Tax Increment Plan therefor, are intended and, in the judgment of the
City Council, its effect will be, to carry out the objectives of the Redevelopment Plan and to create an impetus
for the redevelopment of blighted areas and the construction of senior rental housing facilities, and will
otherwise promote certain public purposes and accomplish certain objectives as specified in the
Redevelopment Plan and Tax Increment Financing Plan.
2.02 The City Council hereby finds that Tax Increment Financing District qualifies as a"housing
districY' within the meaning of the Tax Increment Act far the following reasons:
"Housing district" means a type of tax increment financing district which consists of a
project or a portion of a project intended for occupancy, in part, by persons or families
of low and moderate income as defined in Chapter 462A, Title II of the National
Housing Act of 1934; the National Housing Act of 1959; the United States Housing
Act of 1937, as amended; Title V of the Housing Act of 1949, as amended; and any
other similar present ar fixture federal, state or municipal legislarion or the regulations
promulgated under any of those acts. A project does not qualify under this subdivision
if the fair market value of the improvements which are constructed for commercial uses
or for uses other than low and moderate income housing consists of more than 20
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percent of the total fair market value of the planned improvements in the development a3 ',�
plan or agreement. The fair mazket value of the improvements may be determined
using the cost of constnxction, capitalized income or other appropriate method of
estimating market value.
Twenty percent of the housing units the Tax Increment District will be occupied by
individuals whose family income is equal to or less than 50 percent of area median
gross income. The remaining eighty percent of the housing units aze intended for
occupancy by individuals whose family incomes are less than 115% of azea median
gross income.
Family income means the median gross income for the City as determined under
section 42 of the Internal Revenue Code of 1986, as amended.
The fair market value of the improvements which are constructed in the Tax Increment
DistricC for commercial uses or for uses other than low and moderate-income housing
will not consist of more than 20 percent of the total fair market value of the planned
improvements in the development plan or agreement. The fair market value of the
improvements will be determined using the cost of consriuction, capitalized income, or
other appropriate method of estimating mazket value.
2.03
The City Council hereby makes the following additional findings:
(a) The City Council further finds that the proposed development, in the opinion of the City
Council, would not occur solely through private investment within the reasonably foreseeable future
and, therefore, the use of tax increment financing is deemed necessary. The specific basis for such
finding being:
The land on which the development will occur would not be developed solely
with private funds in the reasonably foreseeable future because of the presence
of hazardous substances and the presence of blighted buildings.
(b) The City Council furtl�er finds that the Tax Increment Financing Plan conforms to the general
plan for the development or redevelopment of the City as a whole. The specific basis for such finding
being:
The Tas Increment Financing Plan will generally compliment and serve to
implement policies adopted in the City's comprehensive plan. The housing
development contemplated is in accordance with the existing zoning for the
property.
(c) The City Council fizrther finds that the TaY Increment Financing Plan will afford maYimum
opportunity consistent with the sound needs of the City as a whole for the development of the Tax
Increment Financing District by private enterprise. The specific basis for such finding being:
The proposed development to occur within the Tax Increment District is
housing. The development will increase the availability of needed affordable
housing units in the City and will increase the market valuation of the City.
(d) For purposes of compliance with Minnesota Statutes, Section 469.175, Subdivision 3(2), the
City Council hereby finds that the increased market value of the property to be developed within the
Taa� Increment District that could reasonably be expected to occur without the use of tax increment
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financing is $0, which is less than the market value estimated to result from the proposed development
(i.e., $14,230,800) after subtracting the present value of the projected tax increments for the maximum
duration of the T� Increment Financing District (i.e., $2,534,873). In making these findings, the City
Council has noted that the property has not been redeveloped for many yeazs and would likely remain
so if tax increment financing is not available. Thus, the use of tax increment financing will be a
positive net gain to the CiTy, the School District, and the County, and the tas increment assistance does
not exceed the benefit which will be derived therefrom.
152 2.04 The provisions of this Section 2 are hereby incorporated by reference into and made a part of
153 the Tas Increment Financing Plan.
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155 Section 3. Creation of the Bridgecreek Senior Place Tax Increment Financing District and Approval of the
156 TaY Increment Financing Plan therefor.
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158 3.01 The creation of the Bridgecreek Senior Place Tas Increment Financing District and the Tax
159 Increment Financing Plan therefor are hereby approved.
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161 3 A2 The staff of the HRA and the HRA's advisors and legal counsel are authorized and directed to
162 proceed with the implementation of the Taa� Increment Financing District and the Tax Increment Financing
163 Plan and for this purpose to negotiate, draft, prepare and present to the Board of Commissioners of the HRA
164 for its consideration all further plans, resolutions, documents and contracts necessary for this purpose.
Adoption
B}
Approved
H}
Requested by Department of:
�- - rp'
� '�T/���' � , 1'�' ' ' �
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Approved by Financial Services
By:
rove
ty:
by
3y:
Adopted by Council: Date ��. S 3ap�
Bridgecreek Senior Place Housing o 3_��S
Project Redevelopment and TIF Boundaries
DEPAR'CMENT/OFFICE/COUNCIL: DATE INIT7ATED GREEN SHEET No.: 204609 O�. '`.3S
PED 24 Jan 03
CONTACT PERSON & PHONE: IM�7'1AL/UATE INITIAIJDATE
Jenny Wolfe 266-6555 � I n�nizTMeNT Drx a ciTYCOUxciL
MiJST BE ON COUNCII. AGENDA BY (DATE) �IGN ? CITY ATTORNEY _ CITY CLERK
Fu IANCIAL SERV DIR. FINANCL4I. SERV/ACCTG
February 5 � 2��3 gNO��IBER 3 MAYOR (OR ASST.) _ CIVR, SERVICE COMIvIISSION
ROLI'I7NG
ORDER
TOTAL # OF SIGNATIJRE PAGES _I_(CLIP ALL LOCATIONS FOR SIGNATIJRE)
acnox n�QUESTEn: Sign draft City Council resolution for Bridgecreek Senior Housing Redevelopment Plan. Public
hearing to be held Febivary 5, 2003
RECOMMENDATIONS. Approve (A) or Reject (R) PERSONAI, SERVICE CON'I"RACTS MUST ANSWER TI� FOLLOWING
QUESTIONS:
A_ PLANNiNG COMbffSSION 1. Has this persoNfim� ever worked under a conhact for thu departrnent?
CIB COMMITI'EE Yes No
CIVIL SERVICE COMMISSION 2. Has this person/firm ever been a city employee?
Yes No
3. Does this person/5rm possess a skill not noimalty possessed by, any cuaent city employee7
Yes No
Explain all yes answers on separate sheet aod attach to green sheet
INII7ATING PROBLEM, ISSUE. OPPORT[INITY (Who, What, Wheo� Where, Why):
A redevelopment plan for the Bridgecreek Senior Housing project at Old Hudson Road and Johnson Parkway must
be approved by the Ciry Council to enable the Housing and Redevelopment Authority Board to move forward with
fmancing this project.
ADVANTAGES IF APPROVED:
A senior rental housing project will be able to go forwazd, providing redevelopment on a blighted and underutilized
property and providing approximately 160 units of needed housing.
DISADVANTAGES IF APPROVED: NOT10 ��D
JA N 2 3 2003
�.'/�.� ����
nisauvArrrncES � xoT nrrxovEn: Financing for the project will not be available and the project will not occur
TOTAL AMOUNT OF TRANSACTION: $ COST/REVENUE BUDGETED:
Fi1NDING SOURCE: ACTMTY NUMBER:
FINANCIAL INFORMATION: (EXPLAIN)
K:VShazMNMUAMES WEQWridgecreeNbndgu«k gremshcecwpd
o� -��S
city of saint paul
planning commission resolution
file number 0 3-11
date 1/24/03
RECOMMENDING APPROVAL OF THE
BRIDGECREEK SEIVIOR HOUSING REDEVELOPMENT PLAN
WHEREAS, the Bridgecreek Senior Housing Redevelopment Plan has been submitted to the
Housing and Redevelopment Authority of the City of Saint Paul for its review; and
WFIEREAS, Minnesota Statutes Section 469.027 provides that the authority shall transmit any
such plans to the planuing agency of the city in which the azea to be redeveloped is situated for
its study and a written opnuon; and
WHEREAS, the redevelopment plan under consideration by the Housing and Redevelopment
Authority provides for the development of the Bridgecreek Senior Housing project in a manner
consistent with the goals, objectives and recommendations of the policy directives of the Saint
Paul Comprehensive Plan; and
WHEREAS, among the key atiributes of the proposed redevelopment project aze its adherence
to City of Saint Paul's Housing Pian, which encourages production of housing units for senior
citizen households and identifies this toca6on as a potential housing deveIopment site, and the
Land Use Plan, which also identifies ttus site for housing; and
WHEREAS, the project will meet the city's housing affordability policy; and
WHEREAS, the construction of the affordable units would not be possible but for the financing
toois provided for iri the proposed redevelopment plan;
NOW, THEREFORE, BE IT RESOLVED, that the Planning Commission fmds the
Bridgecreek Senior Housing Redevelopment Plan consistent with the Saint Paul Comprehensive
Plan and recommends its adoption by the City Council and Housing and Redevelopment
Authority.
moved by Faricy
seconded by
in favor Unanimous
against
1�
0��
HOUSiNG DEVELOPMENT t1ND REDEVELOPMENT PLAN FOR
BRIDGECREEK SE1vIOR PLACE HOUSTNG PROJECT
t1ND
TAX INCREMENT FINANCING PLAN
BRIDGECREEK SENIOR PLACE TAX INCREDg;NT FINANCING DISTRICT
(a housing district)
HOUSING AND REDEVELOPMENT AUTHORITY
OF THE CITY OF SAINT PAUL
RAMSEY COUNTY
STATE OF MINNESOTA
Adopted: 2002
>
This document was drafted by: BRIGGS AND MORGAN, (KAL)
Professional Association
2200 First National Bank Bidg.
St. Paul, MN 55101
(651)223-6625
1476657v4
TABLE OF CONTENTS
(for reference purposes only)
�� -l'35
Page
SECTION i. DEFIIVITIONS .................................................................................................1
SECTION 2. HOUSING DEVELOPMENT AND REDEVELOPMENT PLAN
FOR T3� BRIDGECREEK SENiOR PLACE HOUSING PRO7ECT.......... 2
Subsection 2.1 STATEMENT OF FINDING OF PUBLIC PURPOSE ...................... 2
Subsection 2.2 STATt7TORY AiTI'HORITY ............................................................. 2
Subsection 23 STATEMENT OF OBJECTIVES ....................................................... 3
Subsection 2.4 ESTIMATED PUBLIC COSTS AND SUPPORTIVE DATA...........4
Subsection 2.5 ENVIRONMENTAL CONTROLS ..................................................... 5
Subsecrion 2.6 PROJECT PROPOSALS AND DEVELOPMENT
TECHNIQUES .................................................................................... 5
Subsection 2.7 ADMINISTRATION OF ACTIVITIES IN THE PROJECT
AREA ................................................................................................... 6
Subsection2.8 REHABILITATION ............................................................................7
Subsection 2.9 RELOCATION ..........................................�---...................................... 7
Subsection 2.10 BOI7NDARIES OF PROJECT AREA ................................................ 7
Subsection 2.11 PARCELS TO BE ACQUIRED OR MAY BE ACQUIRED
WITHIN THE PROJECT AREA ........................................................ 7
Subsection 2.12 FINANCING HOUSING DEVELOPMENT .....................:................ 8
Subsection 2.13 OTHER PROVISIONS NECESSARY TO MEET STATE
AND LOCAL REQUIREMENTS ....................................................... 8
SECTION 3. TAX INCREMENT FINANCING PLAN FOR THE BRIDGECREEK
SENIOR PLACE TAX INCREMENT FINANCING DISTRICT .................. 9
Subsection 3.1 FORWARD .......................................................................................... 9
Subsection 3.2 STATUTORY AUTHORITY ............................................................. 9
Subsection 33 STATEMENT OF OBJECTIVES .......................................................9
Subsection 3.4 REDEVELOPMENT PLAN OVERVIEW ......................................... 9
Subsection 3.5 PARCELS TO BE INCLUDED IN THE TAX INCREMENT
� FINANCING DISTRICT ...................................................................10
Subsection 3.6 PARCEL IN ACQUISITION AND PARCELS TO BE
ACQUIRED .......................................................................................10
Subsection 3.7 DEVELOPMENT ACTIVITY IN THE TAX INCREMENT
FINANCiNG DISTRICT FOR WHICH CONTRACTS HAVE
BEEN SIGNED .................................................................................10
Subsection 3.8 OTHER SPECIFIC DEVELOPMENT EXPECTED TO
OCCUR WITHIN REDEVELOPMENT PROJECT AREA .............10
Subsection 3.9 ESTIMATED COST OF PROJECT AND TAX INCREMENT
FINANCING PLAN BUDGET ......................................................... 11
Subsection 3.10 ESTIMATED AMOLTNT OF BONDED INDEBTEDNESS............11
Subsection 3.11 SOURCES OF REVENUE ................................................................ 11
Subsection 3.12 ESTIMATED CAPTURED TAX CAPACITY AND
ESTIMATE OF TAX INCREMENT ................................................11
Subsection 3.13 TYPE OF TAX INCREMENT FINANCING DIST32ICT ................12
Subsection 3.14 DURATION OF THE TAX INCREMENT FINANCING
DISTRICT .......................................................................................... 13
1476657v4 1
Subsection 3.15
Page
Subsection 3.16
Subsection 3.17
Subsection 3.18
Subsecrion 3.19
Subsection 3.20
Subsection 3.21
Subsection 3.22
Subsection 3.23
Subsection 3.24
Subsection 3.25
Subsection 3.26
Subsection 3.27
Subsection 3.28
TABLE OF CONTENTS, continued
ESTIMATED IlVIPACT ON OT`HER TAXiNG
NRISDICTIONS ..............................................................................13
MODIFICATIONS TO THE TAX INCREMENT
FINANCING DISTRICT ...................................................................13
ADIvSINISTRA'TIVE EXPENSES .....................................................14
LIMITATION OF INCREMENT ......................................................14
USE OF TAX R�iCREMENT ............................................................15
NOTIFICATION OF PRIOR PLANNED IMPROVEMENTS ........16
EXCESS TAX INCREMENTS .........................................................16
REQUIREMENTS FDR AGREEMENTS WITH THE
DEVELOPER....................................................................................17
ASSESSMENT AGREEMENTS ......................................................17
ADMIlVISTRATION OF TAX INCREMENT FiNANCING
DIST'RiCT .......................................................................................... 17
FINANCIAL REPORTING REQUIREMENTS ...............................18
OTHER LIMITATIONS ON TAE USE OF TAX
INCREMENT.................................................................................... 20
COUNTY ROAD COSTS ................................................................. 21
ECONOMIC DEVELOPMENT AND JOB CREATION ....:............ 22
EXHTBIT A Map of Proj ect Area and Tax Increment Financing District ................................. A-1
EXHIBIT B Tax Increment Cash Flow ..................................................
EXHIBIT C Estimated Impact on Other Taxing Jurisdictions ...............
EXHIBIT D Tax Increment Financing Plan Budget ...............................
�
...................... C-i
....................... D-1
EXHIBIT E Parcels ta be Included in Tax Increment Financing District ................................. E-1
1476657v4
ii
0� -l�S
03 -� �
SECTION 1. DEFIlVITIONS
The terms defined below shall, for purposes of the Redevelopment Plan and Tas
Increment Financing Plan have the meaning herein specified, unless the context otherwise
specifically requires:
"Authority" means the Housing and Redevelopment Authority of the City of Saint Paul,
Minnesota.
°Captured Tax Capacity" means the amount by which the current net tax capacity of the
tax increment financing district exceeds the original net tax capacity, including the value of
property normally taxable as personal property by reason of its location on or over property
owned by a taac-exempt entity.
"City" means Ehe City of Saint Paul, Minnesota.
"Comprehensive Plan" means the City's Comprehensive Plan which contains the
objectives, policies, standards and programs to guide public and private land use, development,
redevelopment and preservation for all lands and water within the City.
"County" means Ramsey County, Minnesota.
"Goveming Body" means the duly appointed City Council of the City.
"Housing Act" means Minnesota Statutes, Section 469.001 to 469.047.
"HItA" means the Housing and Redevelopment Authority of the City of Saint Paul,
Minnesota, a body corporate and politic;
"Project Area" means the Bridgecreek Senior Place Housing Project depicted on Exhibit
A attached hereto and described in the Redevelopment Plan.
"Redevelopment Plan" means this Housing Development and Redevelopment Plan for
the Bridgecreek Senior Place Housing Project.
"State" means the State of Minnesota.
"Tax Increment Financing Act" means Minnesota Statutes, Secrion 469.174 through
469.1799.
"Tax Increment Financing District" means the Bridgecreek Senior Piace TaY Increment
Financing District described in the TaY Increment Financing Plan and depicted on E�ibit A.
"Tax Increment Financing Plan" means the Tax Increment Financing Plan for the
Bridgecreek Senior Place Taac Increment Financing District.
1476657v4
o�-��s
SECTION 2. HOUSING DEVELOP�NT AND REDEVELOPMENT PLAN FOR THE
BRIDGECREEK SENIOR PLACE HOUSING PROJECT
Subsection 2.1 STATEMENT OF FINDING OF PUBLIC PURPOSE
The Housing and Redevelopment Authority of the City of Saint Paul, Mnuiesota (the
"HRE�") has detennined that there is a need for development and redevelopment within the
corporate limits of the City and within the Project Area to provide housing opportunities for low
and moderate income households and to improve the general economy of the City. It is found
that the Project Area is potenrially more useful and valuable than is being realized currently, is
less productive than is possibie and therefore is_not contributing to the tax base to its full
potential.
The HRA has detersnined to exercise its authority to develop a plan for improving the
Project Area to provide unpetus for private development of low and moderate income housing,
to utilize existing potential in the Project Area and to provide other facilities as are outlined in
this Redevelopment Plan to be adopted by the HRA.
The HRA has also deternuned that the proposed development within the Project Area
would not occur solely through private investment in the foreseeable future; that the Tax
Increment Financing Plan will afford maximum opporiuniTy, consistent with the sound needs of
the City as a whole, for the development and redevelopment of the Project Area by private
enterprise.
Subsection 2.2 STATUTORY AUTHORITY
The purpose of this Redevelopment Plan is (a) to increase the supply of decent, safe, and
sanitary housing available or to be made availabie to meet the demand foz and housing needs of
those incomes not being adequately met by private enterprise at sale prices or rents within the
financial means of such income groups by qualifying properties comprising the Project Area as a
housing project defined under MinnesoEa Statutes, Section 469.002, Subdivision 13, a housing
development project defined under Section 469.002, Subdivision 15, a redevelopment project
defined under Section 469.002, Subdivision 14, and as a housing district under Section 469.174,
Subdivision 11 of the Tax Increment Financing Act; (b) to develop or redevelop sites comprising
the Project Area which qualify as blighted or deteriorated areas under 469.002, Subdivision 11 or
as a housing district under 469.174, Subdivision 11; (c) to assist in the provision of housing to
persons or families who qualify under income definirions contained in Section 469.002,
Subdivisions 17 and 18 and Section 469.1761 and who reside in such housing developments; and
(d) to undertake and finance these actions as under the Redevelopment Plan and Tax Increment
Financing Plan.
The properiy which is to be included in the Project Area has been reviewed and meets the
following criteria:
The properties in the Project Area aze pollufed, underurilized and confain vacant
structures, and the assistance to be provided under the Redevelopment Plan and
1476657v4 2.
01,��s
Tax Increment Financing Plan will remove, prevent or reduce those blighting
influences, as that term is used in Section 469.002, Subdivision 11.
Housing constructed in the Project Area will be made available to persons who
qualify under the limitations contained in Section 469.1761.
Funding of the necessary acriviries and improvements in the Project Area shall be
accomplished through available financing methods including the use of tax increment financing
in accordance with the Tax Increment Financing Act and through the use of housing revenue
bonds pursuant to the provisions of Minnesota Statutes, Chapter 462C.
Subsecrion 2.3 STA'I'EMENT OF OBJECTIVES
The IIRA determines that the Bridgecreek Senior Place Housing Project will provide the
HRA with the ability to achieve certain public purpose goals not otherwise obtainable in the
foreseeable future without HRA intervention in the normai development process.
The public purpose goals and objectives of the Redevelopment Plan aze as follows:
To increase the supply of adequate housing within the community for persons of
all income levels including rehabilitation of existing housing stock where feasible
and development of new housing to increase home ownership and rental
opporiunities.
2. To provide such housing on land or in areas which qualify as redevelopment
projects and housing districts under the Housing Act with emphasis upon lands
potentially usefixl for contributing to the public welfare, but which by reason of
special problems or conditions, have not reached full development potential by
the ordinary operations of private enterprise.
3. To carry out the provision of housing and development of underdeveloped lands
within Yhe Project Area compatible with the plan for such Project Area, and
consistent with the general land use plan and other components of the City's
Comprehensive Plan.
4. To coordinate such housing provision and land development within the Project
Area to meet the obj ectives of the housing policy plan of the City's
Comprehensive Plan and project development financing requirements.
5. To coordinate acquisition, site prepazation and improvements, provision of
necessary public improvements and facilities within the Project Area, and to
spread and equalize the costs hereof, in order to develop the entire Project Area at
a cost reasonabiy related to the public purpose to be served.
6. To establish re-use valuations based on housing re-use, or use ancillary to the
provision of housing, and to sell acquired development sites for private
redevelopment in accordance with this Redevelopment Plan at economically
1476657v4
OZ-\35
feasible sale prices in order to induce and make possible private participation in
the Project Area.
7. To provide private developers with information regarding zoning; land use
controls and other City and Plan requirements; information and-assistance in
obtaining construction and permanent financing; and informarion and assistance
regazding construcrion of site and public improvements and financing necessary
to correct site subsoil conditions of other chazacteristics which aze inhibiting
normal development, all in accordance with development agreements.
8. To assist in the development and rehabilitation of housing to persons of all
incomes for homeownership and rental. To assist developers in securing
financing for housing improvements.
9. To fmance the development and rehab costs of the Project and the provision of
low and moderate income housing by means of tax increment generated by
improvements and development.
10. To finance housing development and rehab by a combination of private and
public financing under authority and subject to the requirements of federal, State
and local laws and ordinances for the provision of revenue bond financing for
housing purposes.
Subsection 2.4 ESTIMATED PUBLIC COSTS AND SUPPORTIVE DA`TA
The estimated capital and administrafive costs to be incurred within the Project Area are
included in Section 3.9 of the Tax Increment Financing Plan. To the extent legally possible and
as approved by the Governing Body and the HRA, tax increment revenues will be used to assist
in funding the estimated costs of the Project Area,.in accordance with the Tax Increment
Financing Plan.
The Authority hereby elects to spend an additional ten percent of the tax increments on
activities located outside the Tax Increment District as permitted by Minnesota Statutes, Section
469.1763, subd. 2(d) provided that the expenditures meet the following requirements:
they are used exclusively to assist housing that meets the requirements for a
qualified low-income building as defined in Section 42 of the Internal Revenue
Code of 19$6, as amended (the "Code");
2. they do not exceed the qualified basis of housing as defined under Section 42(c)
of the Code less the amount of any credit aflowed under Section 42 of the Code;
and
3. they aze used to (i) acquire and prepare ehe site for housing, (ii) aequire, construct
or rehabilitate the housing or (iii) make public improvements directly related to
the housing. -
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Subsection 2.5 ENVIRONMENTAL CONTROLS
Any proposed development activities in the Project Area which present s o°nificant
environmental concerns, including the remediation or removal of certain hazardous substances,
will be accomplished in accordance with a development action response �lan approved by the
Minnesota Pollution Gontrol Agency. All actions, public improvements and private development
shall be carried out in a manner consistent with existing environxnental standards.
Subsection 2.6 PROJECT PROPOSALS AND DEVELOPMENT T`ECHNIQUES
Land Acauisition. The HRA may acquire as authorized by this Redevelopment Plan and
the Tax Increment Financing Plan:
1. Blighted areas and other real property for the purpose of removing, preventing
and reducing blight or the cause of blight;
2. Open or undeveloped land blighted by virtue of conditions which have prevented
normal development by private enterprise;
Underused or inappropriately used land which may be converted to housing use at
reasonable cost without major residential clearance activity; and
4. Lands acquired by the F3KA in the undertaking of other redevelopment acrivities
and presenfly available for and suitable to the provision of housing and
neighborhood stabilization.
Site Preoaration and Public Improvements. The HRA may carry out:
Activities to correct adverse physical characteristics of the land, faulty
subdivision or plat lots, inadequate access or utility service or other development
inhibiting conditions;
2. Activities deemed necessary or desirable to remove, reduce or prevent other
blighting factors aad cause of blight;
3. Activities deemed necessary or desirable to improve and prepaze sites for
development or redevelopment for housing and related use in accordance with
this amended project area; and
4. Installation, construction or reconstruction of streets, utilities, parks, playgrounds,
and other public improvements or facilities as necessary or desirable for carrying
out amended project azea objectives.
5. Demolition, removal or rehabilitation of buildings and improvements;
Land Disposition and Develooment A¢reements. The HRA shall sell, lease or otherwise
dispose of acquired properiy in accordance with law, the requirements o#'the Redevelopment
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Plan, and after review of the proposed disposition by the appropriate district council, by any
combination. of the following methods:
1. After cleazance and provision of site improveinent;
After rehabilitation and at its fair market or rental reuse value so improved;
Without clearance subject to development agreements to rehabilitate or otherwise
improve the property for the purposes and in aecordance with the objectives and
requirements of Redevelopment Plan; and
4. To public bodies for the purpose of providing public improvements or supporting
facilities.
The HRA may, without propariy acquisition, enter into contracts with property owners or
other persons in control of sites to provide or cause to be provided development of necessary
sites and public unprovements. Proposals must be within the framework of cited goals and
abjectives, and must clearly demonstrate feasibility. The HRA will require a binding contract,
performance bond or other evidence or guarantees that a supporting tax increment or other funds
will result in the needed development and other improvements. These funds may be 'in the form
of loans or grants.
The 2and disposition and controls sflaIl contain tfie folIowing general requirements and
covenants by the private parties:
A. to develop the land in accordance with the objectives and requirements of
Redevelopment Plan;
B. to commence, continue and complete contract improvements within the
times specified and provided for in said agreements;
C. to provide such security or other guarantee of faithful performance as the
HRA shall require;
D. to comply with a11 environmental, non-discrimination and other applicable
federal and State laws and locai ordinances respecting purchase,
improvement and use of the land;
E. to use the land or any improvement thereon, only in accordance and in
confomuty with the land use plan provisions of this Redevelopment Plan.
Subsection 2.7 ADMINISTRATION OF ACTIVITIES IN THE PROJECT AREA
This Redevelopment Plan will be administered by the Executive Director of the HRA
according to the provisions of the Housing Act and Tax Incremen2 Financing Act.
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Subsection 2.8 REFIABILITATION
Owners of properties within the Project Area, will be encouraged to rehabilitate their
groperties to conform with the applicable State and local codes and ordinances, as wefl as any
design standazds. Owners of the properties who purchase property within the Project Area from
the HRA may be required to rehabilitate their properties as a condition of the sale of land. The
HRA will provide such rehabilitation assistance as may be available from federal, State or local
sources.
Subsection 2.9 RELOCATION
The �IRA accepts its responsibility for providing for relocation pursuant to Ivlinnesota
Statutes Chapter 117.
Subsection 2.10 BOITNDARIES OF PROJECT AREA
Exhibit A is a map showing the boundaries of the Project Area.
Subsection 2.11 PARCELS TO BE ACQUIRED OR MAY BE ACQUIRED WITHIN
THE PROJECT AREA
As an altemative and/or complementary redevelopment technique, the HRA or the City
may choose to acquire certain property either through exercise of eminent domain according to
the procedures established under Minnesota Statutes, Chapter 117 or through volunta�y purchase.
Acquisition of property will be considered when property is found to have any of the following
characteristics:
Blighted areas, building and other real property, where removing such can
remove, prevent or reduce blight or the cause of blight;
2. Open or undeveloped land blighted by virtue of conditions which have inhibited
normal development by private enterprise;
Under used or inappropriately used property which may be converted to other
uses recommended by this Plan;
4. Properry necessary to camplete pazcels which would be suitable for development;
5. Property declared to be unsafe or otherwise hazardous to public health and safety;
6. Such other property as necessary to accomplish the objectives of this Plan.
Specific properties to be acquired by the HRA or the City pursuant to the exercise of the
power of eminent domain will be identified by resolution or by final order. Acquisition of
properiy by the HRA or the City will be undertaken in accordance with state statutes governing
procedures for such activity, including the provisian of relocation assistance, services, payments
and benefits in accordance with MinnesoYa Statutes Chapter 117. The HRA is not limited to
exercising its power of eminent domain within the Redevelopment Project Area.
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The HRA or the City may condemn specific properties, in the manner outlined above,
including, but not limited to, the property legally described as:
Excluding the westerly 43 feet, Lot 9, Block 5 H.F. Schwabe's Addition and in
Lindley Park, excluding westerly triangulaz part measuring 20.65 feet on the
Street and 3433 feet on its easterly line and also excluding east 733 feet; Lot 3,
Block 10.
Such property has been designated with PIN #33-29-22-42-0062 and is located at 1153 Hudson
Road.
Subsection 2.12 FINANCING HOUSING DEVELOPMENT
The accomplishment of the provision of new housing in accordance with this
Redevelopment Plan will depend upon the availability in su�cient amounts and at affordable
rates of adequate construction and permanent development fmancing beyond that available from
private lending institutions. The HRA's assistance to developers in obtaining private, Minnesota
Housing Finance Agency, and municipal housing revenue bond financing, wiII be necessary to
meet Redevelopment Plan objectives. The HRA may consider the issue of housing revenue
bonds to finance developments in accordance with the following requirements:
Section 142 of the Internal Revenue Code; and
2. Minnesota Statutes, Chapter 462C and Minnesota Statutes, Section 469.1761.
Subsection 2.13 OTHER PROVISIONS NECESSARY TO MEET STATE AND
LOCAL REQUIREMENTS
Every coniract for sale, lease or redevelopment of property in the Project Area v✓ill
include prohibitions against land speculation, require compliance with all state and local laws in
effect from time to time, prohibit discriinination or segregation by reasons of race, religion,
color, sex, or national origin in the saIe, lease or occupancy of the properiy, and require that this
latter provision be made a covenant running with the land and be binding upon the redeveloper
and every successor in interest to the property.
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SECTION 3. TAX INCREMENT FINANCING PLAN FOR THE BRIDGECREEK
SEiVIOR PLACE TAX INCREMENT FIlYANCING DISTRICT
Subsection 3.1 FORWARD
The Housing and Redevelopment Authority of the City of Saint Paul (the "HRA"j, and its
staff and consultants have prepared=Yke following information for the establishment of
Bridgecreek Senior Place TaY Increment Financing District ("Tax Increment Financing
DistricY'), a housing tax increment fmancing district, located in the Bridgecreek Senior Place
Housing Project Area.
Subsection 3.2 STAT`iJTORY AUTHORITY
Within the City, there exist azeas where public involvement is necessary to cause
development to occur. To this end, the HRA has certain statutory powers pursuant to Minnesota
Statutes, Section 469.001 to 469.047 (the "Housing Act") and Sections 469.174 through
469.1799 (the "Tax Increment Financing Act"), to assist in financing public costs related to a
project.
Subsection 33 STATEMENT OF OBJECTIVES
The Tax Increment Financing Dish consists of 20 parcels of land and adjacent and
internal rights-of-way. A map showing the boundaries of the Tax Increment District is attached
as Exhibit A. Included in the District and on the attached map is a parcel owned by Yhe City of
Saint Paul that has no PIN number. This parcel is described in Exhibit E.
The Tax Increment Financing District is created to facilitate the development of a four-
story senior rental housing facility containing approximately 160 units with underground
parking. The tax increment financing plan is expected to achieve many of the objectives outiined
in the Redevelopanent Plan for the Bridgecreek Senior Place Housing Project Area.
The activities contemplated in the Redevelopment Plan and this Tax Increment Financing
Plan do not preclude the undertaking of other qualified development or redevelopment activities.
These activities are anticipated to occur over the life of the Tax Increment Financing District.
Subsection 3.4 REDEVELOPMENT PLAN OVERVIEW
Property to be Acquired — Any property located within the Tax Increment
Finaneing District may be acquired by the HRA.
2. Relocation - if necessary, complete relocation services are available pursuant to
Minnesota Statutes, Chapter 117 and other relevant state and federal laws.
3. Upon approval of a developer's plan relating to a project and completion of the
necessary legal requirements; the HRA may sell or assist a developer with the
acquisition cost of selected properties within the Tax Increment Financing
District, or may lease land or facilities to a developer.
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4. The HRA may perform or provide financing for some or all necessary
environmental removal or remediation, acquisition, construction, relocation,
landscaping, site work, demolition, and required streets and utilities within the
Tas Increment Financing District. _
Subsection 3.5 PARCELS TO BE INCLUDED IN THE TAX INCRENIENT
FINANCING DISTRICT
E�ibit E lists the parcel identification numbers and approximate legal descriptions from
County recards of the parcels which are included in the Tax Increment Financing District and
includes an approximate legal description for the City-owned property located in the District
without an assigned parcel identification number.
Subsection 3.6 PARCEL IN ACQUISITION AND PARCELS TO BE ACQIJIRED
The I-iRA may finance all or a part of the costs of acquisition of the parcels identified on
Exhibit E of this Tax Increment Financing Plan. The HRA may use its powers of eminent
domain to acquire parcels which neither it or a private developer can obtain through private
negotiation.
The following are conditions under which properties not designated to be acquired may
be acquired at a future date:
1. The HRA may acquire property by gift, dedication, condemnation or direct
purchase from willing sellers in order to achieve the obj ectives of the tax
increment financing plan; and
Such acquisitions will be undertaken only when there is assurance of funding t6
finance the acquisition and related costs.
Subsection 3.7 DEVELOPMENT ACTIVITY IN THE TAX INCREMENT
FINANCING DISTRICT FOR WHICH CONTRACTS HAVE BEEN
SIGNED
The FIRA will enter into a Development Agreement with the Bridgecreek Senior Place
LLC (the "Developer") with respect to the development of an approximately 160-unit senior
rental housing develo�ment (the "Project"). The Project is expected to be thirty-percent (30%)
constructed by December 31, 2003. Tlie first partial payment of tax increment financing will be
assessed as of January 2, 2004, for taxes payable 2005. The Project is expected to be fully
constructed by December 31, 2005. The Project will be 100% assessed on the tax roils as of
January 2, 2606, for taxes payable in 2007. The Project is expected to have a market value of
$14,230,000 upon completion.
At the time this TaY Increment Financing Plan was prepared there were no signed
construction contracts with respect to the construction of the Project.
Subsection 3.8 OTHER SPECIFIC DEVELOPMENT EXPECTED TO OCCUR
WITHIN REDEVELOPMENT PROJECT AREA.
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The potential exists for the moving of four single-family homes currently located on the
southwest end of the Project Area to the northern portion of the Project Area. The homes wouid
subsequently be rehabilitated and resold for single-family home ownership.
Subsection 3.9 ESTIMATED COST OF PROJECT AND TAX INCREMENT
FINANCING PLAN BUDGET
The HRA has determined that it will be necessary to provide assistance for certain public
costs of the Project. To facilitate the development of the Tax Increment Financing District, this
Plan authorizes the use of tax increment fmancing ta pay for the cost of certain eligible expenses
of the Project. The esrimate of public costs and uses of funds associated with the Tax Increment
Financing District is outlined on the table attached hereto as Exhibit D. Estimated costs
associated with the Tax Increment Financing District are subject to change. The cost of all
activities to be considered for tax increment fmancing will not exceed, without formal
modification, the budget set forth above. The dollar amounts for specific line items in the budget
may be adjusted between the line items by resolution of the HRA without a public hearing as
long as the total expenditures are not increased.
Subsection 3.10 ESTIIv1ATED AMOtJNT dF BONDED INDEBTEDNESS
The IIRA.reserves the right to issue bonds in the principal amount not to exceed
$3,000,000. Any expe�ditures not financed by bonds will be paid for from tax increments on a
pay-as-you-go basis. The HRA anticipates issuing a pay-as-you-go note in the approximate
principal amounC of $2,540,000 bearing interest at the rate of approximately 6% per annum.
Subsection 3.11 SOURCES OF REVENLJE
The costs outlined in Section 3.9 above under the Estimated Cost of Project will be
financed through the annual collection of taac increments as described below. The HRA has also
obtained a DTED grant to finance contaminated site cleanup of the Proj ect Area. The City of
Saint Paul has obtained a Metropolitan Livable Communities Act, Tax Base Revitalization
Account Grant from the Metropolitan Council for clean up of polluted land within the Project
Area.
Subsection 3.12 ESTIMATED CAPTURED TAX CAPACITY AND ESTIMATE OF
TAX INCREMENT
The current tax capacity of the Tax Increment Financing District as of January 2, 2002 is
approximately $6,641 after reclassification to residential rental.
The estimated Captured Tax Capacity of the Tax Increment Financing District upon
completion of the Project is estimated to be $171,244.
The HRA e�ects to retain ail of the captured tax capacity to finance the costs of the
Project.
Eachibit B shows the various information and assumptions used in preparing the projected
tax increment generated over the life of the Tax Increment Financing District.
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Subsection 3.13 TYPE OF TAX INCREMENT FINANCING DISTRICT
The HRA, in detemuning the need to create a tax increment financing district in
accordance with the Tax Increment Financing Act, finds that the Tax Increment Financing
District, is a housing district pursuant to Minnesota Statutes, Section 469.174, Subd. 11 as
defined below:
"Housing district" means a type of tas increment fmancing district which consists of a
project or a portion of a project intended for occupancy, in part, by persons or families of
low and modeiate income as defined in Chapter 462A, Title II of the National Housing
Act of 1934; the National Housing Act of 1959; the United States Housing Act of 1937,
as amended; Title V of the Housing Act of 1949, as amended; and any other similar
present or future federal, state or municipal legislation or the regulations promulgated
under any of those acts. A project does not qualify under this subdivision if the fair
mazket value of the improvements which are constructed for commercial uses or for uses
other than low and moderate income housing consists of more than 20 percent of the total
fair market value of the planned improvements in the development plan or agreement.
The fair market value of the improvements may be determined using the cost of
construction, capitalized income or other appropriate.method of estimating mazket value.
In meeting the statutory criteria described above, the HRA relies on the following facts and
findings:
The Project will consist of approximately 160 senior rental housing units and at least 20
percent of the units (i.e., 32 units) will be rented to individuals with family incomes not
„ in excess of 50% of inedian income. The remaining units are intended for occupancy by
persons or families with incomes not in excess of 115% of inedian income.
The market value of improvements for other than low and moderate incoming housing or
commercial property will be less than 20% of the tota�fair market value of the plannad
improvements.
The Tas Increment Financing District qualifies as a housing district, in that it meets all of
the criteria listed above. It is anricipated that 100% of the planned improvements in the
Tax Increment Financing District will be for low and moderate income housing purposes,
as detailed above.
Except as otherwise noted herein, the above requirements apply for the duration of the
Tax Increment Financing District.
Taac increments derived from a housing district must be used solely to finance the cost of
housing grojects as defined above. The cost of public improvements directly related to
the housing projects and the allocated administrative expenses of the City may be
included in the cost of a housing project.
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Subsecrion 3.14 DURATTON OF THE TAX INCREMENT FINANCING DISTRICT
The duration of the Tax Increment Financing District will be 25 years from the receipt of
the first tas increment. The date of receipt of the first tax increment is expected to be 7uly of
2005. Attached as E�ibit B is a projected cash flow showing the estimated receipt of tax
increments from the Tax Increment Financing District.
Subsection 3.15 ESTINIATED IMPACT Oi�T OTHER TAXING 7URISDICTTONS
The estimated impact of the Tax Increment Financing District on the other taxing
jurisdictions assumes construction would have occurred without the creation of the Ta�c
Increment Financing District. If the construction is a result of taY increment financing, the
impact is $0 to other enrities. Notwithstanding the fact that the fiscal impact of the other taxing
jurisdictions is $0, due to the fact that the construction would not have occurred without the
assistance of the HRA, the estimated impact of the Tax Increment Financing District would be as
set forth on Exhibit C if the "but for" test was not met.
Subsection 316 MODIFICATIONS TO THE TAX INCREMENT FINANCING
DISTRICT
In accordance with Minnesota Statutes, Section 469.1�5, Subd. 4, any:
reduction or enlargement of the geographic area of Project Area or Tax Increment
Financing District;
2. increase in amount ofbonded indebtedness to be incurred, including a
detennination to capiYalize interest on debt if that determination was not a part of
the original plan, or to increase or decrease the amount of interest on the debt to
be capitalized;
3. increase in the portion of the captured net tax capacity to be retained by the HRA;
4. increase in total estimated tax increment expenditures; or
5. designation of additional property to be acquired by the HRA;
shall be approved upon the notice and after the discussion, public hearing and findings required
for approval of the original plan.
The geographic area of the Tas Increment Financing District may be reduced, but shall
not be enlarged after five years following the date of certification of the original net tax capacity
by the county auditor. The requirements of this paragraph do not apply if (1) the only
modification is elimination of parcel(s) from the Project Area or Tax Increment Financing
District and (2)(a) the cunent net taaf capacity of the pazcel(s) eliminated from Tax Increment
Financing District equals or exceeds the net tax capacity of those parcel(s) in the Tax Increment
Financing District's original net tax capacity or (b) the HRA agrees that, notwithstanding
Minnesota Statutes, Section 469.177, Subd. 1, the original net tax capacity will be reduced by no
1476657v4 13
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more than the current net tax capacity of the parcel(s) eliminated from the Tax Increment
Financing District.
The HRA must notify the County Auditor of any modification that reduces or enlarges
the geographic azea of the Tax Increment Financing District or Proj ect Area. Modifications to
the Tax Increment Financing District in the form of a budget modification or an expansion of the
boundaries will be recorded in the Redevelopment Plan.
Subsecrion 3.17 ADMINISTRATIVE EXPENSES
In accordance with Minnesota Statutes, Section 469.174, Subd. 14, and Minnesota
Statutes, Section 469.176, Subd. 3, administrative expenses means all expenditures of the HRA,
other than:
amounts paid for the purchase of land or amounts paid to contractors or others
providing materials and services, including architectural and engineering services,
directly connected with the physical development of the real properiy in the
district;
2. relocation benefits paid to or services provided for persons residing or businesses
located in the district; or
3. amounts used to pay interest on, fund a reserve for, or sell at a discount bonds
issued pursuant to Minnesota Statutes, Section 469.178.
Administrative expenses also include amounts paid for services provided by bond
counsel, fiscal consultants, and planning or economic development consultants. Tax increment
may be used to pay any authorized and documented administrative expenses for the Tax
Increment Financing District up to, but not to exceed, 10 percent of the total tax increment
expenditures authorized by the tax increment financing plan or the total tax increment
expenditures for the Redevelopment Project Area, whichever is less.
Pursuant to Minnesota Statutes, Section 469.176, Subd. 4h, tax increments may be used
to pay for the county's actual administrative expenses incurred in connection with said District.
The county may require payment of those expenses by February 15 of the year following the
year the expenses were incurred.
Pursuant to Minnesota Statutes, Section 469.177, Subd. 11, the county treasurer shall
deduct an amount equal to 0.1 percent of any increment distributed to the HRA and the county
treasurer shall pay the amount deducted to the state treasurer for deposit in the state general fund
to be appropriated to the State Auditor for the cost of financial reporting of tax increment
financing information and the cost of examirung and auditing authorities' use of tax increment
financing.
Subsection 3.18 LIMITATION OF INCREMENT
Pursuant to Minnesota Statutes, Section 469.175, Subd. 1(a), no ta;c increment shall be
paid to the HRA for the Tax Increment Financing District after three (3) yeazs from the date of
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certification of the original net tax Capacity value of the taxable ptoperty in the Tax Increment
Financing District by the County Auditor unless within the three (�year period:
(a) bonds have been issued pursuant to Minnesota Statutes, Sectton 469.178, or in aid
of a project pursuant to any otlter law, except revenue bonds issued pursuant to
Minnesota Statutes, Sections 469.152 to 459.165, or
(b) the HRA has acquired property within the Tax Increment Financing Dishict; or
(c) the HRA has constructed or caused to be consh public unprovements within
the TaY Increment Financing District.
The tax increment pledged to the payment of bonds and interest thereon may be
discharged and may be terminated if sufficient funds have been inevocably deposited in the debt
service fund or other escrow account held in tnzst for all outstanding bonds to provide for the
payment of the bonds at maturity or redemption date.
Pursuant to Minnesota Statutes, Section 469.176, Subd. 6:
if after four yeass from the date of certification of the original net tax capacity of
the tax increment financing district pursuant to Minnesota Statutes, Section
469.177, no demolition, rehabilitation or renovation of property or other site
preparation, including qualified improvement of a street adjacent to a parcel but
not insYallaYion of utility service including sewer or water systems, has been
commenced on a parcel located within a tax increment financing district by the
authority or by the owner of the parcel in accordance with the tax increment
financing plan, no additional tax increment may be taken from that parcel and the
original net tax capacity of that parcel shall be excluded from the original net taac
capacity of the tax increment financing district. If the authority or the owner of
the parcel subsequently commences demolition, rehabilitation or renovation or
other site preparation on that parcel including qualified improvement of a street
adjacent to that parcel, in accordance with the tax increment financing plan, the
authority shall certify to the county auditor that the activity has commenced and
the county auditor shall certify the net tax capacity thereof as most recently
certified by the commissioner of revenue and add it to the original net tax capacity
o�'the tax increment financing district. The county auditor must enforce the
provisions of this subdivision. For purposes of this subdivision, qualified
improvements of a street are limited to (1) construction or opening of a new
street, (2) relocation of a street, and (3) substantial reconstruction or rebuilding of
an existing street.
Subsection 3.19 USE OF TAX INCREMENT
The HRA hereby determines that it will use 100 percent of the captured net tax capacity
of taxable properiy located in the Tax Increment Financing District for the following purposes:
to pay the principal of and interest on bonds used to finance a project;
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2. to finance, or otherwise pay the capital and administration costs of the
Redevelopment Project pursuant to the Minnesota Statutes, Sections 469.001 to
469.047;
to pay for project costs as identified in the budget;
4. to finance, or otherwise pay for other purposes as provided in Minnesota Statutes,
Section 469.174, Subd. 11;
5. to pay principal and interest on any loans, advances or other payments made to
the HRA or for the benefit of the Project Area by the developer;
6. to finance or otherwise pay premiums and other costs for insurance, credit
enhancement, or other security guaranteeing the payment when due of principal
and interest on tax increment bonds or bonds issued pursuant to the Plan or
pursuani to Minnesota Statutes, Chapter 462C and Minnesota Statutes, Sections
469.152 to 469.165, or both; and
7. to accumulate or maintain a reserve securing the payxnent when due of the
principal and intarest on the tax increment bonds or bonds issued pursuant to
Minnesota Statutes, Chapter 462C and Minnesota Statutes, Sections 469.152 to
469.165, or both.
These revenues shall not be used to circumvent any levy limitations applicable to the City
nor for other purposes prohibited by Minnesota Statutes, Section 469.176, subd. 4.
Revenues derived from tax increment from a housing district must be used solely to
finance the cost of housing projects as defined in Minnesota Statutes Section 469.174, subd. 11.
The cost of public improvements directly related to the housing projects and the allocated
administrative expenses of the City may be included in the cost of a housing project.
Subsection 3.20 NOTIFICATION OF PRIOR PLANNED IMPROVEMENTS
The IIRA shall, after due and diligent search, accompany its request for certification to
the County Auditor or its notice of the Tas Increment Financing District enlargement with a
listing of all properties within the Ta�c Increment Financing Disirict or area of enlazgement for
wkich building permits have been issued during the eighteen (18) months immediately preceding
approval of the Tax Increment Financing Plan by the City pursuant to Nlinnesota Statutes,
Section 469.175, Subd. 3. The County Auditor shall increase the original taac capacity of The
Tax Increment Financing District by the value o€the value of imptovements for which a building
permit was issued.
Subsection 3.21 EXCESS TAX INCREMENTS
Pursuant to Minnesota Statutes, Section 469.176, Subd 2, in any year in which the tax
increment exceeds the amount necessary to pay the costs authorized by the Plan, including the
amount necessary to cancel any tax levy as provided in Minnesota Statutes, Section 475.61,
Subd. 3, the HRA shall use the excess amount to do any of the following:
1476657v4 16
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prepay any outstanding bonds;
2. discharge the pledge of tax increment therefore;
3. pay into an escrow account dedicated to the payment of such bond; or
4. return the excess to the County Auditor for redistribution to the respective tasing
jurisdictions in proportion to their local taY rates.
In addition, the IIRA may, subject to the limitations set forth herein, choose to modify the
Plan in order to finance additional public costs in the TaY Increment Financing District or
Redevelopment Project Area.
Subsection 3.22 REQUIREMENTS FOR AGREEMENTS WITH THE DEVELOPER
The HRA will review any proposal for private development to deternune its conformance
with the Redevelopment Plan and with applicable municipal ordinances and codes. To facilitate
this effort, the following documents may be requested for review and approval: site plan,
construction, mechanical, and electrical system drawings, landscaping plan, grading and starm
drainage plan, signage system plan, and any other drawings or narrative deemed necessary by the
HRA to demonstrate the conformance of the development with city plans and ordinances. The
HRA may also use the Agreements to address other issues related to the development.
Pursuant to Minnesota Statutes, Section 469.176, Subd. 5, no more than 10 percent, by
acreage, of 1he property to be acquired the Tax Increment Financing District as set forth in the
Plan shall at any time be owned by the HRA as a result of acquisition with the proceeds of bonds
issued pursuant to Minnesota Statutes, Section 469.178, without the HRA having, prior to
acquisition in excess of 10 percent of the acreage, concluded an agreement for the development
or redevelopment of the property acquired and which provides recourse for the HRA should the
development or redevelopment not be completed.
Subsection 3.23 ASSESSMENT AGREEMENTS
Pursuant to Minnesota Statutes, Section 469.177, Subd. 8, the HRA may enter into an
agreement in recordable form with the developer of property within the Tax Increment Financing
District which establishes a minimum market value of the land and completed improvements for
the duration of Taac Increment Financing District. The assessment agreement shall be presented
to the assessor who shall review the plans and specifications for the improvements constructed,
review the market value previously assigned to the land upon which the improvements are to be
constructed and, so long as the minimum market value contained in the assessment agreement
appeaz, in the judgment of the assessor, to be a reasonable estimate, the assessor may certify the
minimum market value agreement.
Subsection 3.24 ADMINISTRATION O�' TAX INCREMENT FINANCING
DISTRICT
Administration of the Tax Increment Financing District will be handied by the Executive
Director of the HRA.
1476657v4 1�]
0� �3S
Subsection 325 FINANCIAL REPORTING REQUIltEMENTS
A. Filing with State Auditor, County Auditor, County Board, City and School Board:
Pursuant to Minnesota Statutes, Section 469.175, Subd. 5, the HRA must file an annual
disclosure report for the Tas Increment Financing Dish The report shail be filed with the
County Board, County Auditor, SchooI Board, City Council and the State Auditor on or before
August 1 of each year. The report shall include the foIlowing informarion:
the amount and source of revenue in the tas increment account;
2. the amount and purpose of expenditures from the account;
3. the amount of any pledge of revenues, including principal and interest, on any
outstanding bond indebtedness;
4. the original net tax capacity of the TaY Increment Financing District;
5. the captured net tax capacity retained by the HR.A;
6. the captured net tax capacity shared with other taxing districts; '
7. the tax increment received; and
any additional information necessary to demonstrate compliance with the tax
increment financing plan.
B. Newspaper Statement: Minnesota Statutes, Section 469.175, Subd. 5 also
provides that by August 15 of the next year an annual statement for the preceding year shall be
published in a newspaper of general circulation in the City showing:
the tax increment received and expended in that year,
2, the original net ta7e capacity,
captured nettax capacity,
4. amount of outstanding honded indebtedness,
the amount of the Tax Increment Financing DistricYs increment paid to other
governmental bodies,
6. the amount paid for administrative costs,
7. the sum of inerements paid, directly or indirectly, for activities and improvements
located outside of the Tax Increment Financing District, and
8. any additional information the HRA deems necessary.
1476657v4 1$
o�-�3S
C. State Auditor filing: Pursuant to Minnesota Statutes, Section 469.175, Subd 6, the
HRA must annuaily submit to the State Auditor, on or before August 1,-a financial report which
shall:
provide for full disclosure of the sources and uses of the public funds in the Tax
Increment Financing District;
2. permit comparison and reconciliation with the HI2A's accounts and financial
reports;
3. pemut auditing of the funds expended on behalf of the Taac Increment Financing
District or that is funded in part or whole through the use of a development
account funded with taY increments from other ta�c increment districts or with
public money; and
4. be consistent with generally accepted accounting principles.
The financial report must also include the following:
the original net tax capacity of the Tax Increment Financing District;
2. the captured net tax capacity of the Tax Increment Financing District, inciuding
the amount of any captured net taac capacity shazed with other taxing districts;
3. the amount budgeted under the Plan, and the actual amount expended for, at least,
the following categories (for the reporting period and for the duration of the Tax
Increment Financing District):
(a) acquisition of land and buildings through condemnation or purchase;
(b) site improvemenis or preparation costs;
(c) installation of public utilities, parking facilities, streets, roads, sidewalks,
or other similaz public improvements;
(d) administrative costs, including the allocated cost of the city;
(e) public pazk facilities, facilities for social, recreational, or conference
purposes, or other similar public improvements; and
4. the total costs of the properiy to the HRA and the price paid the developers (for
properties sold to developers);
5. the amount of increments rebated or paid to developers or properiy owners for
privately financed improvements or other qualifying costs, other than those
reported under clause (3 ), that were issued on behalf of privata enriries for
facilities located in the Tax Increment Financing District.
1476657v4 19
o�-�3s
D. State Auditor filing for all Tas Increment Financing Districts: Pursuant to
Minnesota Statutes, Section 469.175, Subd. 6a, the City must alsoapnually report to the State
Auditor before or on August 1 of each year the following amounts for the entire City:
the total principal amount of nondefeased bonds that are outstanding at the end of
the previous calendaz yeaz; and
2. the total annual amount of principal and interest payments that are due for the
current calendar yeaz on:
(i) general obligation tax increment financing bonds and
(ii) other tax increment financing bonds; and
for each tax increment financing district within the City:
1. the type of tax increment financing district;
2. the date on which the district is required to be decertified;
3. the amount of any payments and the value of in-kind benefits, such as physicai
improvements and the used of buiiding space, that are financed with revenues
derived from increments and are provided to another governmental unit (other
than the municipality) during the preceding calendar yeaz;
4. the taac increment revenues for taxes payable in the cunent calendaz year;
whether the tax increment financing plan or other governing document permits
increment revenues to be expended outside of each district;
6. any additional information that the State Auditor may require.
Copies of this report must also be provided to the county and school district boards.
Subsection 3.26 OTHER LIMITATIONS ON THE USE OF TAX INCREMENT
1. Gen�ral Limitations. All revenue derived from taac increment shail be used in
accordance with the Tax Increment Financing Plan. The revenues shall be used to
financa, or otherwise pay the capital and administration costs of the Project Area
pursuant to the Minnesota Statutes, Sections 469.001 to 469.047;
These rsvenues shall not be used to circumvent existing levy limit law. No revenues
derived from tax inczement shall be used for the acquisition, construction, renovation, operation
or maintenance of a building to be used grimarily and regularly for conducting the business of a
municipality, county, school district, or any other local unit of government or the state or federal
govemment or for a commons azea used as a public path, or a facility used for social recreation
or conference puxposes. This provision shall not prohibit the use of revenues derived from tax
increments for the construction or renovation of a pazking structure, or a privately owned facility
for conference purposes.
1476657v4 2�
D� ��
2. Tas Increment Pooline and Five Year Limitation on Commihnent of Tas
Increments. At least 80% of the t� increments from the Tax Increment
Financing District mustbe expended on activities wiThin the.Tas Increment
Financing District or to pay for bonds used to fmance the esrimated pubiic costs
of the TaY Increment Financing District. No more than 20% of the tax increments
may be spent on costs ontside of the Tas Increment Financing District but within
the boundaries of the Project Area, except to pay debt service on credit enhanced
bonds; provided that a housing project as defined in Section 469.174, Subd. 11 is
an activity within the Taz Increment Financing DiSt�ict. All administrative
expenses are considered to have been spent outside of the Tax Increment
Financing District. Tax increments are considered to have been spent within the
Tax Increment Financing Dish if such amounts are:
A. actually paid to a third pariy for activiries performed within the Tax
Increment Financing District within five years after certificarion of the
Tax Increment Financing District;
B. used to pay bonds that were issued and sold to a third party, the proceeds
of which are reasonably expected on the date of issuance to be spent
within the later of the five-year period or a reasonable temporary period or
aze deposited in a reasonably required reserve or replacement fund;
C. used to make payments or reimbursements to a third party under binding
contraets for activities performed within the Tax Increment Financing
District, which were entered into within five years after certification of the
district; or
D. used to reimburse a party for payment of eligible costs (including interest)
incurred within five yeazs from certification of the district.
Beginning with the sixth year following certification of the Tax Increment Financing
District, at least 80% of the tax increments must be used to pay outstanding bnnds or make
contractual payments obligated within the first five years. When outstanding bonds have been
defeased and sufficient money has been set aside to pay for such contractual obligations, the Tax
Increment Financing District must be decertified.
The ARA does not anticipate that taac increments will be spent outside the Tax Increment
Financing District (exoept for allowable administrative expenses); however, the HRA does
reserve t1�e right to allow for ta�c increment pooling from the Tax Increment Financing District in
the. future.
Subsection 3.27 COLTNTY ROAD COSTS
Pursuant to Minnesota Statutes, Section 469.175, Subd. la, the county board may require
the HRA to pay for all or part of the cost of county road improvements if, the proposed
development to be assisted by tax increment will, in the judgment of the county, substantially
increase the use of county roads requising construction of road improvements or other road costs
1476657v4 21
0� -\35
and if the road improvements aze not scheduled within the next five yeazs under a capital
improvement plan or oYher county plan.
• In the opinion of the HRA and consultants, the proposed development outlined in this
Tax Increment Financing Plan will have little or no unpaet upon county roads. If the county
elects to use increments to nnprove county roads, it must notify the HRA within thirty days of
receipt ofthis Plan.
Subsection 3.28 ECONOMIC DEVELOPMENT AND JOB CREATION.
The HRA is providing taY increment fmancing for housing and therefore, the provisions
of Minnesota Statute, Sections 116J.993 and 116J.994 (which states that a recipient of a business
subsidy must create a net increase in jobs and meet wage level goals within two years of
receiving assistance) are not applicable.
� 1476657v4 'L'�,
03 -1'3S
1�►�:�r�rr�
Map of Project Area and Tax Increment Financing District
See attached.
1476657v4 .�i-1
�� Bridecreek Senior Place Housing p3_1,�
Project Redevelopment and TIF Boundaries
b3�13s
r�:.:��
Tax Increment Cash Flow
See attached.
1476657v4 B_ 1
03 �135
City of Saint Paui
Bridgecreek Senior Piace Tax Increment Financing Pian
Assumptions Page
Type of District:
Estimated 1 st Year of Increment:
Maximum Duration of TIF District:
Estimated Decertificafion Date:
Current Market Value:
Original Net Tax Capacity:
Projected Market Value:
Tax Ciass Rate:
Projected Tax Capacity:
Captured Net Tax Capacify:
Local Tax Capacity Rate:
Base Inflation Factor:
Administrative Retainage Percent
Pay-As-You-Go Note Date
Pay-As-You-Go Note Rate
HOUSING
2005
25 YEARS
12/1/2029
$531,300
$6,641
$14,230,800
1.25%
$177,885
$171,244
131.452%
2.00%
10.00%
5/1(2003
6.00%
Exhibif B
Place Ta�c
CurrentAssessed Value (2002)
Tax Capacity Rate Est. (Pay 2002)
Inflation Rate
Semi-Mnual Total
Period NetTax
Ending Capacity
5/31/2003
'10/31/2003
5/31/2004
10/31I2004
5(3'1/2005
10/3'i/2005
5/31 /2006
10/31/2006
5/31/2007
10/3'112007
5!3 V2008
10/31/2008
5/3112009
10/31/2009
5/3'I/2010
10l31/2010
5f31/2011
10/3 V2011
5/31/2012
10i31/2012
5f3U2013
10/31/2013
5/31/2014
'10131/2014
5/31/2015
10/31/2075
5/31/2016
70/31/2016
5/31/2017
'10/31/2017
5/31/2078
10/31/2018
5/37/2019
10/31/2019
5l31/2020
10/31/2020
5/31/202'I
10/31/2021
5/312022
10I31/2022
5/31/2023
10/31/2023
5/31/2024
'10/31/2024
5/31/2025
'10/3 V2025
5/31/2026
10/31I2026
5/31/2027
10/3112027
5/31 /2028
10/31/2028
5/31/2029
1 0/3112 0 2 9
5/31I2030
10/31/2030
5/31/2031
10/31I2031
6,641
6,641
6,641
53,366
53,366
133,414
'133,414
'177,885
177,885
181.443
181,443
'185,072
185,072
188,773
188.773
192,548
192,548
196,399
196,399
200,327
200,327
204,334
204,334
208,421
208.421
212,589
212,589
216,841
216,841
221,178
221.178
225,601
225,601
230,113
230,113
234,715
234,715
239,410
239,410
244.196
244.198
249,082
249,082
254,064
254,064
259,145
259,145
264,328
264,328
269,614
269,614
275,007
275,007
280,507
280,507
286,117
286,117
Less:
Onginal
Net Taz
Capacity
6,64�
6,64I
6,641
6,641
6,641
6,64�
6,64�
6,641
6,641
6,641
6,641
6,641
6,641
6,641
6,641
6,641
6,641
6,641
6,641
6,641
6,641
6,641
6,641
6,641
6,641
6,641
6,641
6,641
6,641
6,641
6,641
6,641
6,641
6,641
6,64 i
6,641
6,641
6,64t
6,641
6,641
6,64I
6,641
6,64t
6,64I
6,641
6,641
6,641
6,641
6,641
6,641
6,641
6,641
6,641
280,507
280,507
286,117
286,117
$531,300
'13'1.452% Cum. niV
2.00% Cum. Tae Cap
6.00% Mav 1. 200;
Retained
Captured
Net Tac
Capacity
0
0
0
0
46,725
46,725
126,773
126,773
V1,244
171,244
I74,807
174,801
178,430
178,430
182,132
182,132
185,907
185,907
189,758
189,758
193,686
193,686
197,693
797,693
201,779
zaia�s
2os,saa
205,948
210,200
210,200
214,536
214,536
218,960
218.960
223,472
223,472
228,074
228,074
232,769
232,769
237,557
237,557
242.441
242,447
247,422
247,422
252,504
252,504
257,687
257,687
262,973
262,973
268,365
268,365
0
0
0
0
Times:
Tac
Capaciry
Rate
131
�31
131
131
13�
131
13I
131
131
131
131
13'I
131
131
13I
131
131
131
4,269240 10, 673,100 14, 230, 81
53,366 133,414 177,8!
Less: Less:
Semi-Annual State Aud. Admin.
Gross Tax Deduction Retainage
increment 0.360% 10.00%
30,710.31
30,710.31
��z,ssa.e
112.551.E
1'14,890.0
114,890.0
117,275.'I
1'17,275.'I
119,707 £
119,707 E
'122,189.<
'122.189.E
'131.452% 'I27,302.1E
137,452% '127,302.tf
131.452% �29,935.5C
131.452% �29,935.SC
131.452°/ 132,621.5�
137.452% �32,621.51
131.452°/ '135,3612:
131.452% '135,3612°
131.452% '136,155.77
131.452% 138,155.77
131.452% '141.006.1f
�31.452% 141,006.1£
13�.452% 143,9�3.61
737.452% 143,9t3.61
131.452% 146,879.1E
131.452% �46,879.1E
731
�31
131
131
131
137
131
�3t
131
131
13I
13I
13I
13I
131
131
131
131
156,1
156,1
159,346.57
162,620.SC
162,620$C
165,960.5e'
165,960.52
169,367A3
169,367A3
'172,84'1.67
172.841.67
� 76,385.8'I
'176,385.8'I
0.00
0.00
0.00
0.00
'I10.56
110.56
299.96
299.96
405.19
405.19
413.60
413.60
422.19
422.19
430.95
430.95
439.88
439.88
448.99
448.99
45829
45829
467.77
467.77
477.44
477.44
487.30
487.30
497.36
497.36
507.62
507.62
518.09
518.09
528.77
528.77
539.65
539.65
55076
550.7fi
562.09
562.09
573.65
573.65
585.43
585.43
597.46
597.46
609.72
609.72
622.23
62223
634.99
634.99
0.00
0.00
0.00
11,214.65
11,214.65
11,447.64
11,447.64
11.68529
11,927
1 1.927
12.427
12,427
13.214.4'i
13,214.41
13,487.39
13,487.39
13,
15,557
15,557
15,877
15,877
�6,536.3'I
16,536.3'I
16,875.73
16,875.73
17221.94
17.221.94
17,575.08
17,575.08
a3 r ���
Present Value
NetTaC
Increment
0.00
46,820.
107,574:
'166.559.
808.947.32
873,310.81
937,094.06
999,019.54
1,060,385.89
1,7'19,964.87
1,179,005.08
1,236,325.67
7,293,'I27.'I S
1,348,274.2'I
1,402,921.'10
1,455,976.34
1,i08,549.70
'1,559,59'I.80
1,6�0,169.66
1,659,274.38
1,707,93'1.8fi
1.755,172.74
1,801,981.60
1.847,427.68
1,892,458.75
1,936,178.25
1,979,498.00
2,021,556.0'I
2,063,228.99
2,103,688.19
2,143,776.55
2.182,697.29
2,221,260.8fi
2,258,701.22
2,295,797.59
2,33'1,873.49
2,367,498.1'I
2,402,143.37
2,436,469.61
Bridgec7.�s Prepared by PED TIF Projection-Exhibit B Pg 2
03-�3
EXHIBIT C
Estimated Impact on Other Taxing Jurisdictions
See attached.
1476657v4 C-1
03 �3.5
11
NetTaxCapaciry + 268,365 268,365 268,365 ---
NewTaxableNetTaxCapaci = 118,540,637 266,863,868 118,541,369 ---
Hypothetical Adjusted Local
Tax Rate * 38.685% 50.494% 34.733% 7.322% 131
Hypothetical Decrease in
LocalTaxRate 0.088% 0.051% 0.079% --- (
Retained Captured NTC'` � � 103.818� 1
� Impact Statement:
A lower tax rate forthe faxing jurisdictions would result if the hypothetical Projected Retained
Captured Net Tax Capacity became available. The Hypothetical Decrease in Local Tax Rate is
insignificant to each ta�ng jurisdictions and results in an overall decrease of 0.217% as stated
above.
The projected Retained Captured Net Tax Capacity is not available to the tawng jurisdictions
and therefore has no impact on tfie faxes tevied by tfie jurisdictions.
(7) Only represenfs 5.5701 % of total fax 2te, an insignificanf amount.
(2) Tazable net tax capacity is calculated by subtracting fhe captured TIF and fiscal disparity contribution from the total tax capacify.
City of Saint Paul Exhibit C
Estimated Impact on OtfierTaxing Jurisdictions
Bridgecreek Senior Place Tax Increment Pinancing Plan
a�-�35
� . : �: �
Tax Increment Financing Plan Budget
See attached.
1476657v4 D- ]
03 _ ��S
TAX INCREMENT FINANCING PLAN BUDGET
Exhibit D
1� cw V ��s'.o�.l
Name of District: Bridgecreek Senior Place
Type of District: Housing
Duration of District: 25 years
1)
2)
3)
1) Net of State Auditor Deduction
2) Pay-as-you-go note in a principle amount of $2,534,870 at 6.00% interest.
3) Pollution AbatemenVRemediation costs paid for by Grants from MN DTED 8 Met Council
F� . S �.a o�
Bridgecreek TIF Budget.xls 2/3/2003
o �_�3s
.��:
Parcels to be Inclnded in Taac Increment Financing District
PIN 33-29-22-42-0161
Address: 1165/1143 Hudson Road
Legal Description: Lindley Park; vacated street and alley accruing and subject to streets the
following; Lots 8, 9 and A in Block 9; and Lots 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, and A in
Block 10; situate in Ramsey County, Minnesota.
PIN 33-29-22-42-0054
Address: 0 Frank Street
Legal Description: H.F. Schwabe's Addition to St. Paul, Minnesota; Lots 7, 8, 9, 10, and 11 and
North %z of vacated Wakefield Avenue accnring and following lots 12, 13, 14, I5, 16, 17, 18, 19
all in Block 6; situate in Ramsey County, Minnesota.
PIN 33-29-22-42-0059
Address: 0 Frank Street
Legal Description: H.F. Schwabe's Addition to St. Paul, Minnesota; South'/z of vacated
Wakefield Avenue accruing and following lots 1, 2, 3, 4, 5 and 6 all in Block 5; situate in
Ramsey County, Minnesota.
PIN 33-29-22-42-0063
Address: 1139 Old Hudson Road
Legal Description: Lindley Pazk; Subject to highway the following east 7.33 feet of lot 3 and all
of lot 4 in Block 10; sihxate in Ramsey County, Minnesota.
PIN 33-29-22-42-0062
Address: 1135 Old Hudson Road
Legal Description: Excluding the westerly 43 feet, Lot 9, Block 5 H.F. Schwabe's Addition and
in Lindley Park, excluding westerly triangulaz part measuring 20.65 feet on the Street and 34.33
feet on its easterly line and also excluding east 733 feet of Lot 3, Blocic 10; situate in Ramsey
County, Minnesota.
PIN 33-29-22-42-0061
Address: 1125 Old Hudson Road
Legal Description: H.F. Schwabe's Addition and in Lindley Park, commencing at southwest
comer of lot 3, block 10, then east 20.65 feet, then north to northwesterly line of said lot then
southwesterly to beginning and in said Schwabe's Addition the east 17 feet of lot 8 and west 43
feet of lot 9, biock 5; situate in Ramsey County, Minnesota.
1476657v4 $-1
fl3 -.�3S
PIN 33-29-22-42-0060
Address: 1119 Oid Hudson Road
Legal Description: H.F. Schwabe's Addition, west 20 feet of lot 8 and all of lot 7, in block 5;
situate in Ramsey County, Minnesota.
PIN 33-29-22-42-0035
Address: 0 Wilson Avenue
Legal Description: H.F. Schwabe's Addition; lot 17, block 7; situate in Ramsey County,
Minnesota.
PIN 33-29-22-42-0036
Address: 1123 Witson Avenue
Legal Description: H.F. Schwabe's Addition; lot 18, block 7; sihxate in Ramsey County,
Minnesota.
PIN 33-29-22-42-0037
Address: 0 Wilson Avenue
Legal Description: H.F. Schwabe's Addition; lot 19, block 7; situate in Ramsey County,
Minnesota.
PIN 33-29-22-42-0038
Address: 0 Wilson Avenue
Legal Description: H.F. Schwabe's Addition; lot 20, block 7; situate in Ramsey County,
Minnesota.
PIN 33-29-22-42-0039
Address: 0 Wilson Avenue
Legat Description: H.F. Schwabe's Addition; excluding east 19.5 feet of lot 22 and all of lot
21, block 7; situate in Ramsey County, Minnesota.
PIN 33-29-22-42-0031
Address: 0 Euclid Street
Legal Description: H.F. Schwabe's Addition; west 28 feet of Iot 13, block 7; situate in Ramsey
County, Minnesota.
1476657v4 E-2
n 3 -t3s
PIN 33-29-22-42-0032
Address: 0 Euclid Street
Legal Description: H.F. Schwabe's Addition; lot 14, block 7; situate in Ramsey County,
Minnesota.
PIN 33-29-22-42-0033
Address: 0 Euclid Street
Legal Description: H.F. Schwabe's Addition; lot 15, biock 7; situate in Ramsey Counry,
Minnesota.
PIN 33-29-22-42-0034
Address: 0 Euclid Street
Legal Description: H.F. Schwabe's Addition; lot 16, block 7; situate in Ramsey County,
Minnesota.
PIN 33-29-22-42-0106
Address: 0 Frank Street •
Legal Description: H.F. Schwabe's Addition; lot 32, block 2; situate in Ramsey County,
Minnesota.
PIN 33 29-22-42-0107
Address: 0 Frank Street
Legal Description: H.F. Schwabe's Addition; lot l, block 3; situate in Ramsey County,
Minnesota.
PIN 33-29-22-42-0108
Address: 0 Wilson Avenue
Legal Description: H.F. Schwabe's Addition; lot 2, block 3; situate in Ramsey County,
Minnesota.
PIN - NONE (CITY OF SAINT PAUL OWNED PROPERTY)
Address: None
Legal Description: All property located in Lindley Park that is South of alley bordering biock 9
Lindley Park; North of Old Hudson Road; Westerly of the actual conshucted Roadway of
Johnson Parkway and Easterly of the Westerly line of Johnson Parkway (City of Saint Paul
Land - right of way for Johnson parkway).
t476657v4 $-3
a3 _ ��.5
�-,,,,�,-� g g
Interdepartmental Memorandum
CITY OF SAINT PAUL
TO: City Council Members and Aides
FROM: Jenny Wolfe, PEL�G J" " G�y�����
DATE: February 3, 2003
RE: Resolution #03-135 - Approving the Housing and Redevelopment Plan, the
establishment of the Bridgecreek Senior Place TaY Increment Financing
District and approving a tax increment financing plan therefor
Attached is a revised Exhibit D to the above Plan which is scheduled for a Public Hearing on
February 5, 2003.
E�chibit D is the Tas Increment Financing Plan Budget. The change was to add non-tax
increment sources of funds flowing through the City/HRA. The funds are as follows and have
previously been budgeted and approved through City Council and HRA Board Action:
�:• $405,750 DTED Grant; and
❖ $175,330 Met Council Crrant.
Both Grant funds are to be used for pollution abatemenUremediation in the Project Area.
Please contact me with any questions at 6-6555.
Attachment
cc: Sheri Pemberton
AA-ADA-EHO Employer
TAX INCREMENT FINANCING PLAN BUDGET E�chibit D � ��
Name of District: Bridgecreek Senior Place '
Type of District: Housing
Bridgec2.xis 1/3/2003
Duration of Districf: 25 years