2019.04.03 EDC Packet - Laserfiche WebLink

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Subsection 1.6. Sources of Revenue Anticipated revenue sources to assist in the financing of the public improvement costs pursuant to Subsection 1.5. above include (1) general obligation and/or revenue tax increment obligations with interest; (2) the direct use of tax increments; (3) the borrowing of available funds, including without limitation interest-bearing City short-term or long-term loans; (4) interfund loans or advances; (5) interfund transfers, both in and out; (6) land sale or lease proceeds; (7) levies; (8) grants from any public or private source; (9) developer payments; (10) loan repayments or other advances originally made with tax increments as permitted by Minnesota Statutes; and (11) any other revenue source derived from the City's activities within the Project Area as required to finance the costs as set forth in Subsection 1 .5. All revenues are available for all tax increment eligible expenses within the Project Area as allowed by Minnesota Statutes. Subsection 1.7. Environmental Controls To the extent proposed development or redevelopment raises environmental concerns, all municipal actions, public improvements and private development or redevelopment shall be carried out in a manner consistent with applicable environmental standards or approvals. Subsection 1.8. Administration The City Manager shall serve as Administrator of the Project Area pursuant to the provisions of the Development District Act, provided however that such powers may only be exercised at the direction of the Council. No action taken by the Administrator shall be effective without Council authorization. Subsection 1.9. Rehabilitation Current property owners within the Project Area will be encouraged to rehabilitate their properties to conform with the applicable State and local codes and ordinances, as well as any design standards. Potential owners who may purchase property within the Project Area from the City may be required to rehabilitate their properties as a condition of sale of land. The City will provide such rehabilitation assistance as may be available from federal, state or local sources. A developer or redeveloper may be any person, business, corporation or governmental unit including the City or the New Brighton Economic Development Authority. A developer or redeveloper may initiate a plan and participate with the City or the New Brighton Economic Development Authority in the development or redevelopment thereof. Subsection 1.10. Relocation The Council accepts its responsibility for providing for relocation pursuant to Minnesota Statutes, section 469.133. Subsection 1.11. Private Development and Reuse of Property The Program goals and objectives are to be achieved· in a cost efficient and timely manner by assisting and encouraging the private sector whenever reasonably possible. Generally, the City will proceed by contracting with the private sector (developer, builder, user, owner and so forth) for the reuse of land or building that is part of the Project Area. The City may acquire any property, real or personal, that is necessary or convenient for the implementation of the Program. The City