NOTICE OF PUBLIC HEARING
CITY OF ROCHESTER
COUNTY OF OLMSTED
STATE OF MINNESOTA
NOTICE IS HEREBY GIVEN that the Common Council (the "Council") of the City of Rochester, Minnesota (the "City") jointly with the Board of Commissioners (the "Board") of the Rochester Economic Development Authority (the "EDA"), will hold a public hearing on Monday, April 5, 2021, at a meeting of the Council beginning at approximately 6:00 p.m., Central Time, relating to the proposal that the EDA (i) establish Economic Development District No. 78 (the "Development District"); (ii) adopt an Economic Development Plan for the Development District; (iii) establish DMC Redevelopment Tax Increment Financing District No. 78-1 (Bryk Project) (the "TIF District") therein; and (iv) adopt a Tax Increment Financing Plan therefor; all pursuant to and in conformity with applicable law, including Minnesota Statutes, Sections 469.090 through 469.1082, 469.174 through 469.1794, and 469.40 through 469.47, as amended. A copy of the documentation proposed to be considered at the hearing will be on file at least 10 days prior to the public hearing and available upon request from the Council Administrator.
The map accompanying this Notice shows the area of the proposed TIF District and Development District, where the increments may be collected and expended, respectively, pursuant to the provisions of Minnesota Statutes, Sections 469.174 through 469.1794, as amended.
In addition, the EDA proposes entering into an agreement with Bryk Apartments Rochester LLC, a Minnesota limited liability company, or an affiliate thereof (the "Developer") under which the EDA will provide tax increment and other assistance to the Developer, and the Developer will agree to remediate contaminated soils and construct an approximately 6-story, 180-unit workforce residential apartment building to be known as "Bryk on Broadway Apartments," with approximately 100 underground parking stalls and 40 surface level parking stalls, an exercise facility, board room, indoor and outdoor community spaces, and approximately 7,261 square feet of commercial/retail space to be located on N Broadway Avenue between 5th Street NW and Civic Center Drive NW in the City. The assistance will be exempt from the requirements of Minnesota Statues, Sections 116J.993 to 116J.995 (the "Business Subsidy Law"). However, a copy of the proposed business subsidy agreement is on file and available upon request from the Council Administrator.
Due to the emergency declared under Minn. Stat. Chapter 12 by the Governor of Minnesota and the Mayor regarding the COVID-19 health pandemic, the Council/Board is holding this meeting by telephone or other electronic means pursuant to Minnesota Statutes Section 13D.021, concluding that an in-person meeting is not prudent due to the COVID-19 pandemic. The meeting will be conducted virtually using Zoom.
Members of the public who wish to join the meeting and provide comments on the record may do so by calling the number provided. Dial in Number: 1-312-626-6799 Meeting ID: 912 4541 8192 Passcode: 162027#. Members of the public may also attend the hearing via Zoom with this link: https://zoom.us/j/91245418192?pwd=VUZTSHNsL0UyMlYvUDBRNitxeURuUT09. Public comments can also be submitted via email to email@example.com. Any emailed comments submitted before March 29, 2021 will be included in the posted meeting agenda and any emailed comments submitted on or after March 29, 2021 but before 2:00 P.M. on April 5, 2021 will be provided to the Council and the Board for their review.
Map of Property in Development District No. 78 and Redevelopment Tax Increment Financing District No. 78-1
(March 23, 2021) 2880288