HomeMy WebLinkAboutResolution No. 233-11 -77
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fit. ..�, '. v. - .... .. n ... .. ......... .. e ROCHESTER ECONOMIC DEVELOPMENT AUTHORITY
COUNTY OF OLMSTED
STATE OF MINNESOTA
RESOLUTION NO. C 33 - ) )
RESOLUTION ACCEPTING TRANSFER OF OPERATIO OF
TAX INCREMENT FINANCING DISTRICTS TO THE
ROCHESTER ECONOMIC DEVELOPMENT AUTHORI
AND ESTABLISHING CERTAIN ECONOMIC DEVELOPMENT ISTRICTS
WHEREAS, the City of Rochester, Minnesota (the "City") and the Rochester Economic
Development Authority (the "EDA") have determined, in connection with the City being
reclassified from a city of the second class to a city of the first class, Ihat it is in the best
interest of the City and the EDA that the City transfer operation of all ctive tax increment
financing districts to the EDA, and for the EDA to establish all of the pro erty formerly in the
municipal development districts heretofore created by the City pursuant tc Minnesota Statutes
Section 469.124, as 469.134, as economic development districts of the EDA pursuant to
Minnesota Statutes, Sections 469.090 to 469.1082. The economic deve opment districts will
have the same geographic boundaries as the municipal developrr ent districts being
terminated; and,
• WHEREAS, the active tax increment financing districts to be trans f rred to the EDA are
identified on Exhibit "A" attached hereto (the "Tax Increment Financing Districts").
NOW, THEREFORE, BE IT RESOLVED by the Board of Commissi ners of the EDA as
follows:
1. The EDA accepts operation of Tax Increment Financing Dis ricts listed on
Exhibit "A".
2. There are hereby established new economic development districts by the
EDA under the EDA Act, have the same geographic boundaries of the
Municipal Development Districts listed on Exhibit "A". The EDA hereby
finds that the establishment of the economic development districts are
proper and desirable and in the best interests of the City and the EDA.
PASSED AND ADOPTED BY THE ROCHESTER ECONOMIC DEVELOPMENT
AUTHORITY OF ROCHESTER, MINNESOTA THIS RPM D u , 2011.
• PRESIDENT F SAID AUTHORI
SECR A OF SAID AUTHORI FY
• PASSED AND ADOPTED BY THE COMMON -COUNCIL OF THE CITY OF
ROCHESTER, MINNESOTA, THIS /IP soh IAY/F1F / , 2011.AD
C
PRESIDENT OF SAID CO MON COUNCIL
ATTEST: ✓C�C�(I t-I
ChY dLE
APPROVED THIS DAY OF , 2011.
MAYOR OF SAID CITY
(Seal of the City of
Rochester, Minnesota)
• CITY CLERK'S CERTIFICATE
I, the undersigned, being the duly qualified and acting Secreta of the Rochester
Economic Development Authority, Minnesota, DO HEREBY CERTIFY hat I have carefully
compared the attached and foregoing extract of minutes of a duly calle and regularly held
meeting of the EDA held on MA4 ih , 2011, with the original minutes hereof on file in my
office and I further certify that the same is a full, true, and correct transcript thereof insofar as
said minutes relate to accepting transfer of certain operations of tax increment financing
districts and establishing certain economic development districts.
Dated at Rochester, Minnesota this 18 day of i►'WY , 2011
��1461r'OJ .
ecre ary 6f the Rochester Economic
Development Authority
EDAITIF Transferl1
•
EXHIBIT A
City of Rochester Active Development Districts&Tax Increment Financi ig Districts
Development District TIF District Number Name
Number
2 2-2 Rochester Development, Inc. (Broadway Plaza)
3 3-1 Marigold Foods&Textile Care
3 3-2 SEMCIL
6 6-1 Bandel Hills Townhomes
7 7-1 PEMSTAR
11 11-1 West Zumbro Estates
12 12-1 Bear Creek Apartments
13 13-1 Rose Harbor Estates
14 14-1 Georgetowne Townhomes
15 15-1 Weatherstone Townhomes
16 16-1 Celestica
17 17-1 Diamond Ridge
18 18-1 Valley Side Estates
19 19-1 Kingsbury hills
20 20-1 Rose Harbor Estates(Phase 2)
21 21-1 Valley Side Estates(Phase 2)
22 22-1 Kingsbury Hills(Phase 2)
23 23-1 Manor Woods West Central
24 24-1 Manor Woods Lakes 6"'Subd.
25 25-1 Rose Harbor Estates(Phase 3)
26 26-1 Rose Harbor Estates(Phase 4)
27 27-1 Kingsbury Hills(Phase 3)
28 28-1 Villas of Valley Side 2nd
29 29-1 Rose Harbor/Manor Woods Lak s
30 30-1 Valley Side Estates(Phase 3)
31 31-1 Georgetowne Townhomes 2nd
33 33-1 Town Hall Estates
34 34-1 Village on Third Apartments
36 36-1 Minnesota BioBusiness Center project
37 37-1 GH Holdings Project