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Home My WebLink About2012-06-20 PACKET 04.K.REQUEST OF CITY COUNCIL ACTION COUNCIL AGENDA MEETING ITEM # ZJ DATE 6/20/2012 • • PREPARED BY Finance Robin Roland ORIGINATING DEPARTMENT DEPARTMENT HEAD COUNCIL ACTION REQUEST Consider adopting a resolution calling for a public hearing to be held on September 5, 2012 on the proposed Modification to the Development Program Development District No. 1 and the proposed Modification to the Tax Increment Financing Plan for Tax Increment Financing District No. 1 -3. STAFF RECOMMENDATION Adopt the resolution. SUPPORTING DOCUMENTS ❑ MEMO /LETTER: ® RESOLUTION: Draft. ❑ ORDINANCE: ❑ ENGINEERING RECOMMENDATION: ❑ LEGAL RECOMMENDATION: ® OTHER: Schedule of Events. ADMINISTRATORS COMMENTS s City Administrator Date COUNCIL ACTION TAKEN: ❑ APPROVED ❑ DENIED ❑ OTHER Document2 Im City of Cottage Grove Memo Finance Department Honorable Mayor and City Council Ryan Schroeder, City Administrator Robin Roland, Finance & Community Development Director' June 20, 2012 SUBJECT: Consider calling a public hearing on the proposed Modification to the Development Program for Development District No. 1 and the proposed Modification to the Tax Increment Financing plan for the Tax Increment Financing District No. 1 -3 Introduction /Discussion Tax Increment Financing district 1 -3 will expire at December 31, 2013. In order to maximize the City's ability to use the tax increment which exists from the district, we need to modify the district's budget. This modification will allow the remaining increment to be collected for the remaining life of the district. A budget modification however, requires a public hearing. This resolution calls for that public hearing on September 5, 2012. A schedule of the events involved in this process is included with this memo. Requested Action Adopt the resolution calling for a public hearing to be held on September 5, 2012 on the proposed Modification to the Development Program Development District No. 1 and the proposed Modification of the Tax Increment Financing Plan for Tax increment Financing District No. 1 -3. CITY OF COTTAGE GROVE COUNTY OF WASHINGTON STATE OF MINNESOTA RESOLUTION NO. RESOLUTION CALLING FOR A PUBLIC HEARING BY THE CITY COUNCIL ON THE PROPOSED MODIFICATION TO THE DEVELOPMENT PROGRAM FOR DEVELOPMENT DISTRICT NO. 1 AND TITE+ PROPOSED MODIFICATION OF TAX INCREMENT FINANCING DISTRICT NO. 1 -3. BE IT RESOLVED by the City Council (the "Council ") for the City of Cottage Grove, Minnesota (the "City"), as follows: Section 1. Public Ilearina This Council shall meet on September 5, 2012, at approximately 7:30 P.M., to hold a public hearing on the proposed Modification to the Development Program for Development District No. 1 (the "Development Program Modification ") and the proposed Modification of the Tax Increment Financing'Plan (the "TIF Plan ") for Tax Increment Financing District No. 1 -3 ( "TIF District No. 1 -3 "), a redevelopment district, (the Development Program Modification and the Tl; Plan are referred to collectively herein as the " Modifications "), all pursuant to and in accordance with Minnesota Statutes, Sections 469.090 to 469.1082, and Sections 469.174 to 469.1799, inclusive, as amended, in an effort to encourage the development and redevelopment of certain designated areas within the City; and Section 2. Notice of Public Hearing Filing of Program Modification and TIF Plan City staff is authorized and directed to work with Ehlers & Associates, Inc., to prepare the Modifications and to forward documents to the appropriate taxing jurisdictions including Washington County and Independent School District No. 833. The City Administrator is authorized and directed to cause notice of the hearing, together with an appropriate map as required by law, to be published at least once in the official newspaper of the City not later than 10, nor more than 30, days prior to September 5, 2012, and to place a copy of the Modifications on file in the City Administrator's office at City Hall and to male such copy available for inspection by the public. Dated: June 20, 2012 Adopted: Mayor ATTEST: City Administrator SCHEDULE OF EVENTS COTTAGE GROVE ECONOMIC DEVELOPMENT AUTHORITY AND THE CITY OF COTTAGE GROVE WASHINGTON COUNTY, MINNESOTA FOR THE MODIFICATION TO THE DEVELOPMENT PROGRAM FOR DEVELOPMENT DISTRICT NO. 1 AND THE MODIFICATION TO THE TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 1 -3 (a redevelopment district) June 20, 2012 City Council calls for public hearing on the proposed Modification to the Development Program for Development District No. 1 and the proposed Modification to the Tax Increment Financing Plan for Tax Increment Financing District No. 1 -3. N /A* Project information submitted to the County Board for review of county road impacts if necessary* (at least 45 days prior to public hearing). *The County Board, by law, has 45 days to review the TIF Plan to determine if any county roads will be impacted by the development. Because the City staff believes that the proposed tax increment financing district will not require unplanned county road improvements, the TIF Plan will not be forwarded to the County Board 45 days prior to the public hearing. Please be aware that the County Board could claim that tax increment should be used for county roads, even after the public hearing. July 10, 2012 EDA confirms the City Council call for a public hearing on the proposed Modification to the Development Program for Development District No. I and the proposed Modification to the Tax Increment Financing Plan for Tax Increment Financing District No. 1 -3. July 11, 2012 Project information (property identification numbers /parcel list, maps and list of sources and uses of funds) for drafting necessary documentation sent to Ehlers. August 3, 2012 Fiscal /economic implications received by School Board Clerk and County Auditor (at least 30 days prior to public hearing). [Ehlers will,fax & mail on or before August 3, 2012.] August 6, 2012 Ehlers & Associates conducts internal review of the Modifications. August 14, 2012 EDA considers Modifications and adopts a resolution approving the Modifications. EHLERS SCHEDULE OF EVENTS - PAGE 2 COTTAGE GROVE ECONOMIC DEVELOPMENT AUTHORITY AND THE CITY OF COTTAGE GROVE WASHINGTON COUNTY, MINNESOTA FOR THE MODIFICATION TO THE DEVELOPMENT PROGRAM FOR DEVELOPMENT DISTRICT NO. I AND THE MODIFICATION TO THE TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 1 -3 (a redevelopment district) August 22, 2012 Date of publication of TIF hearing notice and map (at least 10 days but not more than 30 days prior to hearing). [South Washington County Bulletin publication deadline, 4:00 P.m.., August 15, 2012. -- Ehlers will submit notice, map, and instructions to newspaper via email on or before August 15, 2012.] August 27, 2012 Planning Commission reviews Program Modification and TIF Plan. September 5, 2012 City Council holds a public hearing at 7:30 P.M. on a Modification to the Development Program for Development District No. 1 and the Modification of Tax Increment Financing District No. 1 -3. [Ehlers will send Council packet information to City via email on or before August 29, 20121 2012 Ehlers & Associates files Modifications with the MN Department of Revenue and the Office of the State Auditor and with Washington County. An action under subdivision 1, paragraph (a), contesting the validity of a determination by an authority under section 469.175, subdivision 3, must be commenced within the later of: � 1) 180 days after the manic ipality's a proval under section 469.175, subdivision 3: or 2) 90 days after the reclnest for certification of the district is filed with the county auditor under section 469.177, subdivision 1.