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IV.7. 2019 Special Legislation Relating to Tax Increment Financing District 2-11; ElverumJune 12, 2019 Council Report 2019-171 2019 SPECIAL LEGISLATION RELATING TO TAX INCREMENT FINANCING DISTRICT 2-11 Proposed Action Staff recommends adoption of the following motion: Move to approve Resolution 2019-052 approving Laws of Minnesota 2019, First Special Session, Chapter 1, Article 6, Section 18, relating to Tax Increment Financing District 2-11. With this motion, the resolution of support and Certificate of Approval of Special Law will be recorded with the Secretary of State. Overview The City of Hopkins established Tax Increment Financing (TIF) District 2-11 in order to facilitate the redevelopment of property owned by SuperValu. The development that resulted was the SuperValu Distribution Facility and the Excelsior Crossings office campus. As often is the case with a redevelopment as large as this, the City required some modifications to TIF law in order to meet the timelines of the development. In 2003, the City of Hopkins was successful in extending the five-year rule to nine years, giving the project more time to incur eligible expenses, and extending the duration of the district an additional four years. However, it limited our ability to use TIF funds for outside of the district to administration expenses only. In 2008, the City was successful in extending the ability to use funds outside of the district for administration and up to 20% for housing-related activities. This past legislative session, the City of Hopkins requested to increase the amount of TIF that can be pooled for use outside of the district and to allow for redevelopment activity to be eligible, rather than a limitation on housing activities only. The City was successful, in part, and was granted the flexibility to use pooled TIF dollars for all redevelopment-eligible activities but limited to the 25% allowed under existing State law. Primary Issues to Consider In order to secure the special legislation, the City Council must vote to accept the language through Resolution 2019-052. The actual expenditure of excess TIF dollars will be considered by the City Council and projects warrant. Supporting Information • Resolution 2019-052 ___________________________ Kersten Elverum Director of Planning & Development Financial Impact: $__0__________Budgeted: Y/N ____ Source: ________________ Related Documents (CIP, ERP, etc.): _______________________________________ Notes: _______________________________________________________________ 1 CITY OF HOPKINS, MINNESOTA RESOLUTION NO. 2019-052 APPROVING LAWS OF MINNESOTA 2019, FIRST SPECIAL SESSION, CHAPTER 1, ARTICLE 6, SECTION 18, RELATING TO TAX INCREMENT FINANCING DISTRICT 2-11 WHEREAS, the City of Hopkins, Minnesota (the “City”) has duly established Tax Increment Financing District No. 2-11 (the “TIF District”) within the Project Area in accordance with Minnesota Statutes, Sections 469.174 through 469.1794, as amended (the “TIF Act”) and the Housing and Redevelopment Authority in and for the City of Hopkins, Minnesota administers such TIF District; and WHEREAS, the Legislature of the State of Minnesota passed a special law extending the five-year rule of the TIF District to nine years, all as provided in Laws of Minnesota 2003, Chapter 127, Article 10, Section 31 (the “2003 Special Law”), which was amended by another special law which allowed an extension of the TIF District and the use of tax increment for housing activities, all as provided in Laws of Minnesota 2008, Chapter 366, Article 5, Section 21 (the “2008 Special Law”); and WHEREAS, the Legislature of the State of Minnesota passed a special law providing that up to 20% of the total tax increment from the TIF District can be expended outside the TIF District for housing or redevelopment activities, all as provided in Laws of Minnesota 2019, First Special Session, Chapter 6, Article 7, Section 1 (the “2019 Special Law”); and WHEREAS, pursuant to Minnesota Statutes, Section 645.021, subdivisions 2 and 3, the 2019 Special Law is effective upon approval by a majority vote of the governing body of the City and the filing of a certificate, including a copy of this resolution, in the form prescribed by the Minnesota Attorney General with the Minnesota Secretary of State; and WHEREAS, the City Council of the City has determined that it is in the best interest of the City and its residents to approve the Special Law. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Hopkins, Minnesota, as follows: 1. The 2019 Special Law is approved. 2. The City Clerk, as the chief clerical officer of the City, is hereby authorized and directed to file the certificate and a copy of this resolution, as approved, with the Minnesota Secretary of State as required by Minnesota Statutes, Section 645.021, subdivision 3. 3. City staff are authorized and directed to take any additional action necessary to implement the 2019 Special Law. 2 Adopted by the City Council of the City of Hopkins, Minnesota this 18th day of June, 2019. By:___________________________ Jason Gadd, Mayor ATTEST: _______________________________ Amy Domeier, City Clerk