Title
RESOLUTION CALLING PUBLIC HEARING ON THE PROPOSED ESTABLISHMENT OF THE WELCH PLACE TAX INCREMENT FINANCING DISTRICT WITHIN PROJECT AREA NO. 1 AND THE PROPOSED ADOPTION OF THE TAX INCREMENT FINANCING PLAN RELATING THERETO AS PROPOSED BY THE HOUSING AND REDEVELOPMENT AUTHORITY OF DULUTH, MINNESOTA.
Body
CITY PROPOSAL:
BE IT RESOLVED by the City Council (the "Council") of the City of Duluth, Minnesota (the "City"), as follows:
Section 1. Public Hearing. The Council shall meet on Monday, May 13, 2024, at approximately 7:00 p.m., to hold a public hearing on the proposed: (a) Amended and Restated Redevelopment Plan/Housing Development Plan for Project Area No. 1 (the “Development Plan”); (b) establishment of Welch Place Tax Increment Financing (Housing) District within Project Area No. 1; and (c) adoption of a Tax Increment Financing Plan for Welch Place Tax Increment Financing (Housing) District (the “TIF Plan”), pursuant to and in accordance with Minnesota Statutes, Sections 469.001 through 469.047, both inclusive, as amended and Minnesota Statutes, Sections 469.174 through 469.1794, both inclusive, as amended (collectively, the "Act").
Section 2. Notice of Hearing. Filing of Plan. The staff of the City is hereby authorized to cause a notice of the hearing, substantially in the form attached hereto as Exhibit A, to be published in the City's official newspaper not more than 30 days and not less than 10 days prior to the scheduled hearing date and to place a copy of the proposed Development Program and TIF Plan on file in the City Clerk’s office at City Hall and to make such copies available for inspection by the public.
Statement of Purpose
STATEMENT OF PURPOSE: This resolution calls a public hearing regarding the proposed establishment of the Welch Place Tax Increment Financing District. The TIF District is a housing district and will provide housing, in part, for low- and moderate-income persons.