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HRA Agenda 11-12-1985 SpecialSPECIAL FETING AGENDA MONTICELLO HOUSING AND REDEVELOPMENT AUTHORITY Tuesday, November 12, 1985 - 4:OOPM Members: Chair Gary Wieber, Bud Schrupp, Ren Haus, Roger Hedtke, and Ben Smith. 1. Call to order. 3. Consideration of Adopting the Tax Increment Proposed Plan and Ta: Increment Finance Plan for the Bergstad Properties: and requesting the City Council to set a Public Hearing. 2• Consideration of Adopting Modification d2 of the Central Monticello- Redevelopment Plan. 4. Other Business. 5. Adjournment. q CENTRAL MONTICEI.IA REDEVELOPMENT PLAN Modification No. Two Dated: 12 November, 1985 Pursuant to M.S. 462.521 Subdivision 6, it is hereby found to be in the public interest to modify the Central Monticello Redevelopment Plan, dated 23 November, 1982, by extending the boundaries to include Blocks 38 and 39, Lover Monticello. It is further found to be beneficial to achieving the goals and objectives as stated in the original to designate additional lands as suitable for "conditional" acquisition. Lands suitable for *conditional" acquisition are those lands within the Redevelopment Project Area which shall be found to be unfeasible to develop but for the intervention of the Authority. Such lands suitable for *conditional - acquisition are shown on attached Exhibit A. As modified, the boundary description (page 2) shall read as follows: B. BOUNDARY DESCRIPTION Commencing at the northwesterly corner of Lot 15, Block 50, Original Plat, City of Monticello, thence southeasterly along the southerly right -of -ray line of River Street to the northeasterly corner of Lot 11, Block 53, Original Plat, City of Monticello; Thence in a southwesterly direction along the westerly right-of-way line of Cedar Street to the southeasterly corner of Lot 5, Block 33, Original Plat; Thence in a southeasterly direction along the northerly right-of-way line of Fourth Street to the northeasterly corner of Lot 6, Block 39, Lower Monticello; Thence in a southwesterly direction along the westerly right-of-way line of waahington Street to the northeasterly corner of Lot 4, Block 42, Lover Monticello; Thence in an easterly direction 166 feet along the northerly right-of-way line of the Burlington Northern Railway; Thence duo south along the easterly right-of-way line of Old Copeland Road to a point whoro tho northerly right-of-way lino of Interotato 94 and the eastorly right-of-way line of Old Copeland Road intaroect: Thence southwostorly across Interstate 94 to the northeast corner of Lot 6, Block 1, Oakwood Industrial Park; Thonco eouth along the wort line of the right-of-way of Industrial Drive to the coutheaot corner of Lot 7, Block 3, Oakwood Industrial Park; Thence vest along the corporate limits of the City of Monticello to the easterly right-of-way lino of Trunk Highway 25; Thane northeasterly following the easterly right-of-way lino of Trunk Highway 25 to the southwesterly corner of Lot 1, Block 15, Original Plat; Thence in a northwesterly direction to the southeasterly corner of Lot 4, Block 14, original Plat; J Thence in a northwesterly direction along the northerly right -of -ray line of 6th Street to the southwesterly corner of Lot 1, Block 12, Original Plat; Thence in a northeasterly direction along the easterly right-of-way line of Linn Street to point of beginning. A RESOLUTION APPROVING MODIFICATION NO. 2, DATED NOVEMBER 12, 1985, TO THE MONTICELLO REDEVELOPMENT PROTECT PLAN BY THE 14OUTICELLO HOUSING AND REDEVELOPMENT AUTHORITY PURSUANT TO THE PROVISIONS OF MINNESOTA STATUTES, SECTION 462.411, at seq. WHEREAS, The Housing and Redevelopment Authority in and for the City of Monticello (the "Authority") is carrying out the Monticello Redevelopment Project (the "Project") and Redevelopment Plan (the "Plan"), pursuant to the approval of the City Council of the City of Monticello (the "City"); and WHEREAS, Section 462.525, Subd. 6, of the Municipal Housing and Redevelopment Act (the "Housing Act") provides that a redevelopment project may be modified at any time provided that the modification shall be adopted by the Authority and the City Council of the City upon such notice and after such public hearing as is required for the original adoption of the Plan; and WHEREAS, the Authority recommends that the project be undertaken as rapidly as possible and be financed with local funds including tax increment financing as authorized by Minnesota Statutes, Sections 273.71 through 273.78; and WHEREAS, in connection with the undertaking of certain project modifications by the Authority pursuant to the Minnesota Municipal Housing and Redevelopment Act, Minnesota Statutes, Section 462.411 at oeq. the approval by the Board of Commissioners (the "governing body") of the Authority of the redevelopment plan for the project area involved in Duch undertaking la required by the local governing body before it will consider for approval said Redevelopment Plan; and WHEREAS, there was presented to this meeting of the governing body of the Authority for its consideration and approval, a copy of ahousing and redevelopment plan for said project area dated November 12, 1985, which plan is entitled the Redevelopment Project Plan Modification #2; and WHEREAS, the Authority adopts the tax increment financing plan as part of the method of financing; and WHEREAS, the Authority hao prepared Modification No. 2, dated November 12, 1985, to the Plan ("Modification No. 2") and oubmittod Modification No. 2 to the City Planning Commiooion of the City of Monticello (the "Planning Commission") for its review and opinion; and NOW THEREFORE BE IT RESOLVED by the governing body of the Housing and Redevelopment Authority in and for the City of Monticello: 1. That the redevelopment project area described in said Redevelopment Project Plan Modification No. 2 dated November 12, 1985, contains blighted and deteriorated or deteriorating areae as defined in the Minnesota Municipal Housing and Redevelopment Act, Minnesota Statutes, Section 462.421, Subdivision 13, and requires public assistance in order to eliminate said blighted, deteriorating and economically obsolete areae. 2. The said Plan and Project will carry out the purpose and policy of the Municipal Housing and Redevelopment Act of the State of Minnesota, Minnesota Statutes, Section 462.415 to 462.711 as set forth in Section 462.415. 3. The said Redevelopment Plan is hereby in all respects approved and the Secretary is hereby directed to file said Redevelopment Plan with the Minutes of thin meeting. 4. Application in hereby made to the City Council of the City of Monticello, the governing body of the City in which said project is located, for the approval of said Plan and project area, and the staff of this Authority is authorized to transmit said Plan to said City Council, together with a copy of this Resolution, a plan for financing the project including the adoption of the tax increment financing plan and to take such other action as the said staff may deem necessary and advisable in order to secure from said City Council its approval of :aid Plan and project. Said City Council is hereby requested to hold e public hearing on raid Redevelopment Project Plan Modification No. 2 after giving published notice of the date, time, place and purpose of such hearing in a newspaper of general circulation in the City of Monticello, such notice to be published at least ten days and no more than 30 day: prior to the date of the hearing. Said City Council In hereby requested to approve said Plan and project modification and to find by Resolution that: (1) the land in the project area would not be made avilable for redevelopment without the financial aid to be sought; (2) the redevelopment plan for the redevelopment project in the locality will afford maximum opportunity, consistent with the sound needs of the locality as a whole, for the redevelopment of such areae by private enterprise; and (3) the redevelopment plan and tax increment financing plan conforms to a general plan for the development of the locality as a whole, and (4) that the project will result in improved housing, increased employment in the municipality end will result in the prasarvation and enhancement of the tax base of the municipality, and (5) that the plan for relocation of the individuals and families displaced in carrying out the Project in docent, safe and sanitary dwellings in conformity with acceptable standards in foaoiblo and can be reasonably and timely effected to permit the proper execution and completion of the project. Said staff is hereby authorized and directed to transmit to the State Department of Energy and Economic Development, Office of Local Government, certified copies of this Resolution, of said Plan, and other papers and documents described or referred to in Minnesota Statutos, Section 462.445, Subdivision 8 of said Municipal Housing and Redevelopment Act. Adopted this 12th day of November, 1985. rman/T� ATTEST: \_ �. Consideration of Adopting the Tax Increment Proposed Plan and Tax Increment Finance Plan for the Bergstad Properties: and requesting the City Council to set a Public Hearing. A. REFERENCE AND BACKGROUND John B. Bergstad of Bergstad Properties, Hopkins, Minnesota, present owner of Cedarcrest Apartment, proposes to rehabilitate the present Monticello Nursing Home (Block 39, Lower Monticello) now owned by the Monticello -Big Lake Hospital District. Plans are for an approximate 25 one -bedroom intermediate care rental unit for persona of ages 75-85. Plans include an attached 1 -story expansion of the present structure to the vest. On November 7, 1985, the Monticello Housing and Redevelopment Authority adopted the concept plan and the use of Tax Increment Finance (TIF) for the Bergatad Properties and also considered the Modification of the Redevelopment Project Area. TAX INCREMENT FINANCE PROPOSAL BERGSTAD PROPERTIES Tax Increment: IL A. New Assessed Value (NAV) B. Old Assessed Value (OAV) C. Captured Assessed Value (CAV) (A. - B. -) Estimated 1985 Mill Rate Tax Increment i� C,y LRD i coo i df�U $Z� x.80 t 1 DP-t"�onl A— i 34 -VLA �A,Ja do 000 '190, o00 x. a4- �� V ,R&r1; baa I g (., -S r—o -Lo O Is -,149 oe�.3 _ i 4,. 44S,440 x.14- 2..24,,1oa I ,4j, fto . o$lfos I Po i I t i ZZ i �4r l 4 -CD, o©C) Zi ) 0 00 !3,000 — 7- 4 tc d,`S't' 1 0 a, 000, e�-t 2 i Grass — Pol o4kA.- -- �c'ass �c�•cQ G S. A- (I 1 of o 4 (::) 460 o00 1 V RESOLUTION 1985 A RESOLUTION APPROVING A TAX INCREMENT FINANCE DISTRICT AND FINANCE PLAN AND REQUESTING THE CITY COUNCIL OF THE CITY OF MONTICELIA TO SET A PUBLIC HEARING WHEREAS, The Housing and Redevelopment Authority in and for the City of Monticello (the "Authority") is carrying out the Monticello Redevelopment Project (the "Project") and Redevelopment Plan (the -Plan-), pursuant to the approval of the City Council of the City of Monticello (the "City"); and WHEREAS. John Bergstad has proRosV development of a 25 unit multiple housing for elderly oe®e lvuilding on Lots 1-6 of Block 39, Lower Monticello, and WHEREAS, said parcel is situated in the Redevelopment Project Area, as modified; and WHEREAS, the Authority recommends that the Bergstad Project be undertaken as rapidly as possible and be financed with local funds including tax increment financing as authorized by Minnesota Statutes, Sections 273.71 through 273.78; and WHEREAS, there was presented to this meeting of the governing body of the Authority for its consideration and approval, a copy of a tax increment finance entitled Tax Increment Housing District 07; and NOW, THEREFORE, BE IT RESOLVED by the governing body: %P,• " '- and Redevelopment Authority in and for the City of Monticello: 1. That the project described in said Tax Increment Finance Housing Plan No. 7 contains blighted, obsolete and deteriorated or dotorioration areas as defined in the Minnesota Municipal Housing and Redevelopment Act, Minnecota Statutoo, Section 462.421, Subdivision 13, and requires public oaeistance in order to eliminate said blighted, deteriorating and economically obsolete areae. 2. The said Plan and Project will carry out the purpose and policy of the Municipal Housing and Redevelopment Act of the State of Minnesota, Minnesota Statutes, Section 462.415 to 462.711 no sot forth in Section 462.415. 3. The said Tax Incremont Housing Diatrict and Tax Increment Finance Plan hereby in all respects approved and the Socratary is hereby directed to file said Housing Plan with the Minutes of this meeting. 4. Application is hereby made to the City Council of the City of Monticollo, the governing body of the City in which said project is located, for the approval of said Plan and project area, and the staff of this Authority is authorized to transmit said Plan to said City Council, together with a copy of this Resolution, a plan for financing the project including the adoption of the tax increment financing plan and to take such other action as the said staff may deem necessary and advisable in order to secure from said City Council its approval of said Pian and project. Resolution 1985 Page Two Said City Council is hereby requested to hold a public hearing on said Tax Increment Finance Rousing Plan No. 7 after giving published notice of the date, time, place and purpose of such hearing in a newspaper of general circulation in the City of Monticello, such notice to be published at least ten days and no more than 30 days prior to the date of the hearing. Said City Council is hereby requested to approve said Plan and to find by Resolution that: (1) the land in the project area would not be viable for housing redevelopment without the financial aid to be sought; (2) the plan for the housing district in the locality will afford maximum opportunity, consistent with the sound needs of the locality as a whole. for the redevelopment of such areas by private enterprise; and (3) the tax increment housing district and tax increment financing plan conforms to a general plan for the development of the locality as a whole, and (4) that the project will result in increased housing opportunities and will result in the preservation and enchancemant of the tax base of the municipality. Said staff is hereby authorized and directed to transmit to the State Department of Energy and Economic Development, Office of Local Government, certified copies of this Resolution, of said Plan, and other papers and documents described or referred to in Minnesota Statutes, Section 462.645, Subdivision 8 of said Municipal Rousing and Redevelopment Act. Adopted this 12th day of November, 1985. L---�Chair NAA ATTEST: Olive M. Koropchak Director of Economic Development