2013-01-02 CC Packet - Laserfiche WebLink

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TAX INCREMENT FINANCING (ECONOMIC DEVELOPMENT) DISTRICT NO. 1 -7 SECTION 2.06 ENVIRONMENTAL CONTROLS; LAND USE REGULATIONS All municipal actions, public improvements and private development shall be carried out in a manner consistent with the current Development Program and existing environmental controls and all applicable Land Use Regulations. SECTION 2.07 PROPOSED REUSE OF PROPERTY The current Development Program anticipates that the City may acquire property and reconvey the same to another entity. All parcels in the Development District are eligible for acquisition. In acquiring land, the City Council will require the execution of a binding development agreement with respect thereto and evidence that Tax Increments or other funds will be available to repay the Public Costs associated with the proposed acquisition. It is the intent of the City to negotiate the acquisition of property whenever possible. Appropriate restrictions regarding the reuse and redevelopment of property shall be incorporated into any Development Agreement to which the City is a party. SECTION 2.08 ADMINISTRATION AND MAINTENANCE OF DEVELOPMENT DISTRICT Maintenance and operation of the Development District will be the responsibility of the City Administrator who shall serve as administrator of the Development District. Each year the Administrator will submit to the City Council the maintenance and operation budget for the following year. The Administrator will administer the Development District pursuant to the provisions of Section 469.131 of the Development District Act; provided, however, that such powers may only be exercised at the direction of the City Council. No action taken by the Administrator pursuant to the above - mentioned powers shall be effective without authorization by the City Council. SECTION 2.09 RELOCATION Any person or business that is displaced as a result of the Development Program will be relocated in accordance with Minnesota Statutes, Section 117.50 to 117.56. The City accepts its responsibility for providing for relocation assistance pursuant to Section 469.133 of the Development District Act. SECTION 2.10 AMENDMENTS The City reserves the right to alter and amend the Development Program through future modifications, subject to the provisions of state law regulating such action. The City specifically continues to reserve the right to enlarge or reduce the size of the Development District, the Development Program and the Public Costs of the Development. ADOPTED (J —/12)