HomeMy WebLinkAboutResolution 066-2008 Resolution No. 66-08
RESOLUTION PROVIDING FOR THE CREATION AND DESIGNATION OF
TAX INCREMENT DISTRICT NUMBER FOUR
CITY OF BROOKINGS,AND DEFINING ITS BOUNDARIES
WHEREAS, the Planning Commission has recommended the creation of Tax Incremental
District Number Four.
WHEREAS, the City of Brookings has the power,pursuant to SDCL§ 11-9-2(1), to create
the Tax Increment District Number Four, 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 Four, City of
Brookings,is a blighted area under SDCL 5 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 Four, 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 affordable housing built in the District by
Oakwood Equity Group,LLC.
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 Four, City of Brookings.
4. Date of Creation. The Tax Increment District is hereby created on August 26,2008.
5. Boundaries of District. Tax Increment District Number Four shall have boundaries which shall
included the following described real property:
The east 610 feet of the west 1,110 feet of the south 640 feet of the north 1, 150 feet in the SE 1/4 of
Section 35-T110N-R50W
Passed and approved this 26th day of August,2008.
CI : BROOKINGS
aft
1c?$ A •.•D41 . Scott P. Munsterman,Mayor
W
w
J�n a,
"4P:gTSADa.,7-hornes, City Cler
The motion for the adoption of the foregoing resolution was made by Council Member Reed, duly
seconded by Council Member Brunner and upon vote being taken thereof, the following voted
YEA: Munsterman,Brunner, Reed,Whaley, 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 August 26,2008,insofar as the
original minutes relating to proceeding for the creation of a tax increment district.
WITNESS my hand and official seal of said City :521ey August, 2008.
w / G
��'`• ,• ornes, City Clerk
City of Brookings
Brookings City, South Dakota
TAX INCREMENT DISTRICT # 4
FIFItEHTH STREET SOUTH
LOT 1
IN
8L0p1 1 OUTLOt'A'
0 AND 0 ADO11TON ZONED R-3
ZONED R-3 '
/j ZONEL QT 28
PI' / !f/ ` J o 3 LOT 2A
I � / J
• � � REMINCTON
.1/II/rr/l r!/r/
� f
S343' of /WC N1053.7' ofTHE / // // % E/� LOT 11
E 467 OF THE w 500' OF 1HE / / / %%%%///�////
5E1/4 SEC 35—T110N—R50W f� � // _
R-1A ' ////I///
ZONED il //.`,/'., ///'
friold . _1r i / r ��id, LOT 10
or ,
4 �� /� '—' LOT 9 I
//rAl
f, v_4rA 1 '/ i / / LOT 5
� •'� � �' � LOT 7 �
LOT 26 ,/ ,� / � �
LOT B / / /////, n i
LOT 25 LOT 27 NUN -s, •, Tow � .j/ : LOT 6 i <
. DLK1 NI
LOT 3 LOT 28 LOT 29 LOT 30 LOT 31
LOT 6 R 9 g ,._LOT ♦ LOT 3
DEER PASS I r3 —
LOT 4 LOT 7 LOT 3 m LOT 4
LOT 24 C
LOT 23 1d oc
NUNIER'S ••110N
LOT 3 LOT l BLK 1 LOT 22 LOT 21 LOT 20 LOT 19 101 18 a LOT 3
1 LOT 2 N
LOT2 LOT 9 r LOT2
LOT 11 0 Lor 1
LOT 12 LOT 13 LOT 14 LOT 15 LOT 16 LOT 17
LOT 1 LOT 10 I LOT 1
,
—
NUNTERS RIDGE ROAD
® TID BOUNDARY #4
LEGAL: East 610 feet of the west 1,110 feet of the south
NORTH 640 feet of the north 1,150 feet in the SE 1/4 of
Section 35-T110N-R5OW