§ 421.120. Findings.  


Latest version.
  • (a) The council finds that, in accordance with Section 428A.12 of the Housing Improvement Act and the city's housing improvement area policy, owners of at least seventy-five (75) percent of the housing units within the Wellington Condominium Improvement Area have filed a petition with the city clerk requesting a public hearing regarding establishment of such housing improvement area.

    (b)

    The council has on May 16, 2017, conducted a public hearing, duly noticed in accordance with the Housing Improvement Act, regarding adoption of this ordinance at which all persons, including owners of property with the Wellington Condominium Housing Improvement Area were given an opportunity to be heard.

    (c)

    The council finds that, without establishment of the Wellington Condominium Housing Improvement Area, the housing improvements (as hereinafter defined) could not be made by the association or the housing unit owners.

    (d)

    The council further finds that designation of the Wellington Condominium Housing Improvement Area is needed to maintain and preserve the housing units within such area.

    (e)

    For the purpose of providing full disclosure of public expenditures and financing arrangements for the Wellington Condominium Housing Improvement Area (as required under Section 428A.13, subd. 1a(1) of the Housing Improvement Act), the council determines that the city expects to finance housing improvements by issuing general obligation bonds primarily secured by the housing improvement fee imposed on unit owners within the Wellington Condominium Housing Improvement Act, and also secured by the city's full faith and credit and taxing powers, as further described in section 421.150 hereof.

    (f)

    In accordance with [Minnesota Statutes] Section 428A.13, subd. 1a(2) of the Housing Improvement Act, the council determines that the association will contract for construction of the housing improvements. ( Ord. No. 2017-024 , § 1, 5-26-17)