HomeMy WebLinkAboutResolution No. 121-24 - EDA - Resolution - Substandard Buildings and Development and Demolition Agreement - Stack Downtown
EDA RESOLUTION NO.
CITY COUNCIL RESOLUTION NO.
Rochester Economic Development Authority
County of Olmsted, State of Minnesota
Finding Parcels to be Occupied by Structurally Substandard Buildings.
BE IT RESOLVED by the Board of Commissioners (the “Board”) of the Rochester
Economic Development Authority (the “EDA”) and the Common Council (the “Council”)
of the City of Rochester, Minnesota (the “City”), as follows:
1. Recitals.
a. It has been proposed that the EDA create a tax increment financing
district in an area within the EDA’s area of operation to be designated a
redevelopment district as defined in Minnesota Statutes, Section
469.174, Subd. 10.
b. In order to create this type of tax increment financing district, the EDA
must make a determination that before the demolition or removal of
substandard buildings, certain conditions existed.
c. The EDA has received a Redevelopment TIF District Eligibility
Assessment prepared by Christopher Colby Architect and dated May 31,
2024 (the “CCA Report”) for the property legally described as Lots 7, 8,
9, 10, 11, 12, 13, 15, and 16, Block 33, Northern Addition, Olmsted
County, Minnesota (the “Property”).
d. Based on the CCA Report, the conditions found by the EDA to exist
throughout the proposed tax increment financing district consisting of
the Property are that parcels consisting of 70 percent of the area of the
district are occupied by buildings, streets, utilities, or other
improvements and more than 50 percent of the buildings, not including
outbuildings, are structurally substandard to a degree requiring
substantial renovation or clearance.
e. In order to deem a parcel as being occupied by a structurally
substandard building, the EDA must first pass a resolution before the
demolition or removal that the parcel was occupied by one or more
structurally substandard buildings and that after demolition and
clearance, the EDA intend to include the parcel within the proposed tax
increment financing district.
f. There exists on each parcel or parcels in the Property one or more
structurally substandard buildings to be demolished or removed (the
“Buildings”).
g. A parcel is deemed to be occupied by a structurally substandard building
if it is occupied by a substandard building within three years of the filing
of the request for certification of the parcel as part of the tax increment
financing district with the county auditor; and if certain other conditions
are met.
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2. Findings.
a. In satisfaction of Minnesota Statutes Section 469.174, Subdivisions
10(a)(1) and (d)(3), the Council and the Board hereby find: (a) the
foregoing Recitals which by this reference are hereby incorporated into
the Findings; and (b) based on the CCA Report, that parcels consisting
of over 70% of the area of the Property are occupied by improvements
and more than 50 percent of the buildings, not including outbuildings,
are structurally substandard to a degree requiring substantial renovation
or clearance and that after demolition and clearance the EDA and the
Council intend to include the Property within a proposed tax increment
financing district.
b. Based on representations of the owner of the property, Stack Downtown
Investments LLC a Minnesota limited liability corporation (the “Owner”),
there have been no improvements made to the Buildings since the
completion of the CCA Report and the condition of the Buildings
continue to deteriorate.
3. Development and Demolition Agreement. A Development and
Demolition Agreement between the EDA and the Owner (the “Agreement”),
pursuant to which the Owner will demolish the Buildings, at its sole expense,
has been prepared and is on file with the EDA Secretary. The Agreement
is hereby approved in substantially the form on file, and the President and
Secretary are authorized to sign the Agreement on behalf of the EDA.
PASSED AND ADOPTED BY the Board of Commissioners of the Rochester Economic
th
Development Authority of Rochester, Minnesota, this 17Day of June, 2024.
PRESIDENT OF SAID AUTHORITY
SECRETARY OF SAID AUTHORITY
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BE IT RESOLVED by the Common Council of the City of Rochester, MN that the Council
does concur with and authorize this designation.
PASSED AND ADOPTED BY THE COMMON COUNCIL OF THE CITY OF
ROCHESTER, MINNESOTA, THIS __________ DAY OF _______________, 2024.
___________________________________
PRESIDENT OF SAID COMMON COUNCIL
ATTEST: __________________________
CITY CLERK
APPROVED THIS _____ DAY OF ______________________, 2024.
___________________________________
MAYOR OF SAID CITY
(Seal of the City of
Rochester, Minnesota)
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