2019.04.03 EDC Packet - Laserfiche WebLink

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It is the intention of the City, notwithstanding the enumeration of specific goals and objectives in the Program, that the City shall have and enjoy with respect to the Project Area the full range of powers and duties conferred upon the City pursuant to the Development District Act, the Tax Increment Act, and such other legal authority as the City may have or enjoy from time to time. The City was provided with special legislation as set forth in Laws of Minnesota 1998, Chapter 389, Article 11, Section 24 (the "Special Legislation"). The Special Legislation allows the City to establish Tax Increment Districts with special rules through December 31, 2008 in an area designated in the Special Legislation. Subsection 1.4. Statement of Objectives The Council originally determined, and its determinations are hereby reaffirmed, that the establishment of the Project Area and the adoption of the Program would provide the City with the ability to achieve certain public purpose goals not otherwise obtainable in the foreseeable future without City intervention in the normal development or redevelopment process. These public purpose goals included: (1) restoration and improvement of the tax base and tax revenue generating capacity of the Project Area; (2) increased employment opportunities; (3) realization of comprehensive planning goals; (4) removal of blighted conditions; and, (5) revitalization of the property within the Project Area to create an attractive, comfortable, convenient and efficient area for housing, industrial, commercial, and related uses. The Program objectives originally established by the Council and reaffirmed by this Program include the following: 1. Promote and secure the prompt development or redevelopment of certain property in the Project Area, which property is not now in productive use or in its highest and best use, in a manner consistent with the City’s Comprehensive Plan, which will, where practicable mitigate existing adverse environmental conditions, and will cause a minimum adverse impact on the environment, and thereby promote and secure the development or redevelopment of other land in the City. 2. Promote and secure additional employment opportunities within the Project Area and the City for residents of the City and the surrounding area, thereby improving living standards, reducing unemployment and the loss of skilled and unskilled labor and other human resources in the City. 3. Secure the increased valuation of property subject to taxation by the City, the School District, the County and other taxing jurisdictions in order to better enable such entities to pay for governmental services and programs required to be provided by them. 4. Provide for the financing and construction of public improvements in and adjacent to the Project Area necessary for the orderly and beneficial development or redevelopment of the Project Area and adjacent areas of the City. 5. Promote the concentration of new desirable residential, commercial, office, and other appropriate development or redevelopment in the Project Area so as to develop and maintain the area in a manner compatible with its accessibility and prominence in the City. 6. Encourage local business expansion, improvement, development and