Title
Resolution amending the Redevelopment Plan for the Ford Site Redevelopment Project Area; approving the adoption of a Second Amendment to the Tax Increment Financing Plan for the Ford Site Redevelopment Tax Increment Financing District; and approving an HRA budget amendment; District 15, Ward 3
Body
WHEREAS, the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the “HRA”) has heretofore established the Ford Site Redevelopment Project Area (the “Project Area”) and has adopted a redevelopment plan therefor (the “Redevelopment Plan”) pursuant to Minnesota Statutes, Sections 469.001 to 469.047, as amended (the “HRA Act”); and
WHEREAS, the Redevelopment Plan contains an identification of need and statement of objectives and program of the HRA for carrying out a redevelopment project, including property to be acquired, public improvements to be provided, development and redevelopment to occur, and sources of revenue to pay redevelopment costs within the Project Area; and
WHEREAS, it has been proposed that the HRA amend the existing Redevelopment Plan for the Project Area to enlarge the Project Area pursuant to the HRA Act; and
WHEREAS, it has also been proposed that the HRA amend the Tax Increment Financing Plan (the “TIF Plan”) for the Ford Site Redevelopment Tax Increment Financing District, which is located in the Project Area, (the “TIF District”) pursuant to and in accordance with the HRA Act and Minnesota Statutes, Sections 469.174 through 469.1794, inclusive, as amended (the “TIF Act”); and
WHEREAS, the HRA has investigated the facts and has caused to be prepared a First Amendment to Redevelopment Plan (the “1st Amendment to Redevelopment Plan”) and a Second Amendment to the Tax Increment Financing Plan (the “2nd Amendment to TIF Plan”); and
WHEREAS, the HRA or the Council has performed all actions required by law to be performed prior to the 1st Amendment to Redevelopment Plan and 2nd Amendment to TIF Plan, including, but not limited to, consultation with the Planning Commission that adopted Resolution #20-40 that approved the 1st Amendment to the Redevelopment Plan, notification of the Ramsey County Commissioner representing the area of the County in which the TIF District is located, and delivering a copy of the 2nd Amendment to TIF Plan to Ramsey County and Independent School District Number 625, which have taxing jurisdiction over the property included in the TIF District; and
WHEREAS, the City Council of the City of Saint Paul, Minnesota (the “City”) will hold a public hearing on this same date, on the adoption of the 1st Amendment to Redevelopment Plan and the 2nd Amendment to TIF Plan, and will consider a resolution to approve the 1st Amendment to Redevelopment Plan and the 2nd Amendment to TIF Plan; and
WHEREAS, the enlargement of the Project Area is being undertaken, in part, in connection with certain public improvements, including without limitation, transportation and infrastructure improvements (the “Improvements”) and corresponds with the area of the alternative urban area wide review for the Ford site redevelopment (the “Ford AUAR”); and
WHEREAS, staff of the HRA have determined a need to amend the TIF Plan budget to adjust revenues to carry out the financing of the Improvements; and
NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners (the “Board”) of the HRA as follows:
Section 1. Findings for the Approval of the 1st Amendment to Redevelopment Plan.
1.01 The HRA hereby finds that the 1st Amendment to Redevelopment Plan is intended and, in the judgment of the HRA, its effect will be to carry out the objectives of the Redevelopment Plan, as amended, and to provide an impetus for development and redevelopment activities in the City, and to otherwise promote certain public purposes and accomplish certain objectives as specified in the Redevelopment Plan.
1.02 The HRA hereby finds that:
(a) for the reasons set forth in the Redevelopment Plan, as amended by the 1st Amendment to Redevelopment Plan, the land in the Project Area, as amended pursuant to the 1st Amendment to Redevelopment Plan, would not be made available for development or redevelopment without the financial aid to be sought;
(b) the Redevelopment Plan, as amended by the 1st Amendment to Redevelopment Plan, will afford maximum opportunity, consistent with the needs of the City as a whole, for the development and redevelopment of the Project Area by private enterprise; and
(c) the Redevelopment Plan, as amended by the 1st Amendment to Redevelopment Plan, conforms to the Saint Paul Comprehensive Plan and the general plan for the development of the City as a whole.
Section 2. Findings for the Adoption of 2nd Amendment to TIF Plan. The Board hereby finds that the 2nd Amendment to TIF Plan is intended and, in the judgment of the Board, its effect will be, to carry out the objectives of the Redevelopment Plan and to create an impetus for development and redevelopment activities in the Project Area, as enlarged, including, but not limited to, developing or redeveloping sites, lands or areas within the Project Area, as enlarged, providing necessary public in improvements in the Project Area, as enlarged, including without limitation, transportation and infrastructure improvements and corresponds with the Ford AUAR, and otherwise promoting certain public purposes and accomplishing certain objectives as specified in the Redevelopment Plan and the 2nd Amendment to TIF Plan.
Section 3. Approval of the 1st Amendment of the Redevelopment Plan, 2nd Amendment to TIF Plan and an HRA Budget Amendment.
3.01 Contingent upon approval by the City Council of the City after the public hearing, The 1st Amendment to Redevelopment Plan and the 2nd Amendment to TIF Plan are hereby approved and adopted, and the 1st Amendment to Redevelopment Plan and the 2nd Amendment to TIF Plan shall be placed on file in the office of the Executive Director of the HRA.
3.02 The HRA's advisors and legal counsel are authorized and directed to proceed with the implementation of the 1st Amendment to Redevelopment Plan and the 2nd Amendment to TIF Plan and for this purpose to negotiate, draft, and prepare all further plans, resolutions, documents and contracts necessary for this purpose.
3.03 The Board hereby approves the HRA budget as set forth in the attached Financial Analysis.
3.04 The staff of the HRA is hereby directed to file a copy of the 2nd Amendment to TIF Plan with the County Auditor of Ramsey County. The staff of the HRA is also directed to file a copy of the 2nd Amendment to TIF Plan with the Commissioner of Revenue and the Office of the State Auditor.