HomeMy WebLinkAboutResolution 045-2008 Resolution No. 45-08
RESOLUTION PROVIDING FOR THE CREATION AND DESIGNATION OF TAX
INCREMENT DISTRICT NUMBER THREE, CITY OF BROOKINGS, DEFINING ITS
BOUNDARIES AND APPROVING ITS PROJECT PLAN
WHEREAS, the Planning Commission has recommended the creation of Tax Incremental
District Number Three and has submitted a proposed project plan for Tax Increment District
Number Three.
WHEREAS, the City of Brookings has the power,pursuant to SDCL § 11-9-2(1), to create
the Tax Increment District Number Three, City of Brookings and define its boundaries.
THEREFORE, IT IS HEREBY RESOLVED:
1. Authorization. The City hereby finds that twenty-five percent (25%) and more of the real
property located within the boundaries of the proposed Tax Increment District Three, City of
Brookings,is a blighted area under SDCL § 11-9-10(2), (4), (8) and 11-9-11. Further, the City
finds that the improvement of the area is likely to enhance significantly the value of substantially
all of the other real property in the District. The City also uses the powers granted pursuant to
SDCL § 9-54 for the economic development of the Tax Incremental District Number Three,
City of Brookings.
2. Findings. The City Council makes the following findings:
a. Not less than 25% of the property in the District is a blighted area;
b. Improvements to the District are likely to add millions of dollars assessed valuation to the
district and will significantly and substantially enhance the value of all property in the district;
c. There is a reasonable likelihood that there will be an affordable housing built in the District
by Blair Hill Properties or their assigns.
d. The aggregate assessed value of the District plus the tax increment base of all other existing
districts in the City does not exceed ten percent of the total assessed valuation in the City.
e. The District is open bare land void of site improvements which impairs the sound growth of
the City.
f. The District lacks water connections which substantially impairs the sound growth of the
District.
g. The District lacks sewerage connections or treatment which substantially arrests the sound
growth of the District.
h. The District lacks streets, roads and fire protection which retards housing accommodations
and constitutes a economic liability and is a menace to the public welfare in its present
condition.
i. As demonstrated by many group meetings discussing affordable housing and sufficient
housing stock, there is substantial need for affordable housing and that the property in its
open condition and with its obsolete plating impairs and arrests the sound growth of the
city.
j. The District constitutes a blighted area as defined in SDCL Chapter 11-9.
3. Creation of District. There is hereby created,pursuant to SDCL Chapter 11-9 the Tax
Increment District Number Three, City of Brookings.
4. Date of Creation. The Tax Increment District is hereby created on J6th e , 2008.
5. Boundaries of District. Tax Increment District Number Three shall have boundaries which shall
included the following described real property:
The north one-half(1/2) of the NE 1/4 of Section 3 Township 109 north range 50 west,
excluding the west 755 feet, all of Esther Heights Addition, and the south 78 feet of the east
1.159 feet thereof and including the south half of the abutting 20th Street right-of-way,the
south half of the 20th Street South right-of-way extending west from the Western Avenue
South intersection a distance of 1.159 feet and the west 238 feet of the Martin Boulevard
right-of-way.
6. Approval of Project Plan. A hearing by the Planning Commission concerning the creation and
boundaries of the Tax Increment District Number Three, City of Brookings was held on May 6,
2008. Pursuant to SDCL 11-9-17, the City hereby approves the project plan as submitted by the
Planning commission. The City finds that the plan is feasible and in conformity with the master
plan (if no master plan, then plans) of the municipality.
7. Approval of Development Agreement. The City Council does hereby approve the development
agreement which shall set forth certain conditions set by the City..
8. Authorization to Transfer of Dedicated Public Improvements. The City Council the mayor and
fmance officer to transfer the dedicated public works and improvements set forth in the TIF
Plan and Developers Agreement in accordance with the TIF Plan and Developer's Agreement,
copies of which are on file with the finance officer and open to public inspection.
9. Officer Direction. The City hereby directs the Mayor and Finance Officer to take such action
as they deem necessary to accomplish the intent of this resolution, the TIF Plan and the
Developer's Agreement.
10. Creation of Tax Incremental Fund. There is hereby created,pursuant to SDCL 11-9-31, a Tax
Increment District Number Three Fund, City of Brookings.
11. Deposit of Tax Increments. All tax increments collected pursuant to Tax Increment District
Number Three shall be deposited into the Tax Increment District Number Three Fund. All
funds in the Tax Increment District Number Three Fund shall be used solely for those proposed
expenses in SDCL 11-9.
Passed and approved this 10th day of June,2008.
CITY OF BROOKI{NGS
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ST: Scott D unsterman,Mayor
21 ti-P
hari Thornes, City Clerk
The motion for the adoption of the foregoing resolution was made by Council Member Tim
Reed, duly seconded by Council member Ryan Brunner, and upon vote being taken thereof,the
following voted YEA: Brunner,Munsterman,Reed,Whaley,Bezdichek,Bartley and McClemans
those voting NAY: None.
Whereupon said resolution was declared duly passed and adopted.
STATE OF SOUTH DAKOTA )
:SS
CITY OF BROOKINGS )
I, the undersigned,being the duly qualified and acting City Clerk of the City of Brookings,
do hereby certify that the attached and foregoing is a full, true and complete transcript of the
minutes of a meeting of the City Council of said City,held on June 10,2008,insofar as the original
minutes relating to proceeding for the creation of a tax increment district.
WITNESS my hand and official seal of said Ci it-of�s:a l day of ,2008.
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o '.v G'i j ��
■ v; 1r
ari Thornes, City Clerk
City of Brookings
Brookings City, South Dakota