The Taconite Capital of the World

City of Mountain Iron, Minnesota



Resolution 44-04 Adopting Plan

RESOLUTION NUMBER 44-04

APPROVING ESTABLISHMENT OF A REDEVELOPMENT PROJECT AND APPROVING A REDEVELOPMENT PLAN THEREFOR AND APPROVING ESTABLISHMENT OF A DEVELOPMENT DISTRICT AND APPROVING A DEVELOPMENT PROGRAM THEREFOR AS PROPOSED BY THE MOUNTAIN IRON ECONOMIC DEVELOPMENT AUTHORITY

BE IT RESOLVED by the City Council (the “Council”) of the City of Mountain Iron, Minnesota (the “City”), as follows:

Section 1. Recitals. The Council makes the following recitals of fact:

A. Pursuant to Minnesota Statutes, Sections 469.090 through 469.1081, the City has established the Mt. Iron Economic Development Authority (the “Authority”) and authorized the Authority to exercise development and redevelopment powers under Minnesota Statutes, Sections 469.001 through 469.047, 469.090 through 469.108 and 469.124 through 469.134 (collectively, the “Act”).

B. In furtherance of the objectives of the Authority, the Authority has proposed:

(i) establishment of a Project Area (the “Redevelopment Project”) in the City and adoption of a Redevelopment Plan therefor (the “Redevelopment Plan”) pursuant to Sections 469.027 and 469.028 of the Act; and

(ii) establishment of a Development District (the “Development District”) in the City and adoption of a Development Program therefor (the “Development Program”) pursuant to Sections 469.125 and 469.126 of the Act.

C. The Redevelopment Project and the Development District are coterminous, encompassing the entire jurisdiction of the City (the “Project Area”).

D. The Redevelopment Plan and the Development Program are included in one document entitled “Redevelopment Plan/Development Program for Project Area No. 1” (the “Plan”) which is now on file in the office of the City Administrator.

E. The Authority has transmitted to the Council:

(i) a copy of Authority Resolution Number 01-04;

(ii) a copy of the written opinion of the Planning Commission on the Plan; and

(iii) a copy of the Plan.

F. The Council has this day held a public hearing on the Plan and designation of the Project Area at which all desiring to speak were given an opportunity to be heard.

Section 2. Findings. It is hereby found, determined and declared, after investigation of the facts and reports and studies previously presented to this Council that:

A. The land in the Project Area would not be made available for redevelopment without the financial aid to be sought by establishing the Project Area.

B. The Plan will afford maximum opportunity, consistent with the needs of the City as a whole, for the redevelopment of the Project Area by private enterprise.

C. The Plan conforms to the general plan for the development of the City as a whole.

Section 3. Approval.

A. The Project Area is approved.

B. The Plan is approved.

DULY ADOPTED BY THE CITY COUNCIL THIS 22nd DAY OF NOVEMBER, 2004.

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