HomeMy WebLinkAbout14-035CITY OF LAKEVILLE
DAKOTA COUNTY, MINNESOTA
RESOLUTION NO. 14-35
RESOLUTION APPROVING THE CONTRACT FOR PRIVATE
DEVELOPMENT BY AND BETWEEN THE CITY OF LAKEVILLE AND
MENASHA PACKAGING COMPANY, LLC
WHEREAS, by Resolution No. 14-01 dated March 3, 2014, the Lakeville Housing and
Redevelopment Authority ("Authority") authorized the City to undertake, on the Authority's behalf,
all of the public development activities in connection with the development of the Menasha
Packaging Company, LLC ("Developer") development proposal, including the administration of tax
increment as accounted for in the City's financial statements; and
WHEREAS, the City of Lakeville has held a public hearing regarding the establishment of
Tax Increment Financing District No. 18 as an economic development district and has adopted the
Tax Increment Financing Plan therefor; and
WHEREAS, the Developer has requested a business subsidy in amount not to exceed
$626,018.00 for its development through reimbursement of certain development costs using tax
increment on a pay -as -you go basis and Developer is proposing to meet certain wage and job goals
as a condition of the grant of the subsidy as further detailed in the proposed Contract for Private
Development between the City of Lakeville and Menasha Packaging Company, LLC ("Contract");
WHEREAS, City of Lakeville has, on the date hereof, held a public hearing on the proposed
Contract, tax increment financing and business subsidy;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lakeville,
that the Contract for Private Development by and between the City of Lakeville and Menasha
Packaging Company, LLC, including the business subsidy, is approved and the Mayor and City
Clerk are authorized to execute the Contract.
ADOPTED this 21 st day of April, 2014, by the City Council of the City of Lakeville
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CITY OF LAKEVILLE
BY:
M Little, Mayor