HomeMy WebLinkAboutItem 02September 19, 2014 io Item No.
RESOLUTION CALLING FOR A PUBLIC HEARING TO CONSIDER MODIFICATION OF THE
AIRLAKE REDEVELOPMENT PROJECT NO. 1 AND THE ESTABLISHMENT OF TAX
INCREMENT FINANCING DISTRICT NO. 19
September 22, 2014 City Council Meeting
Proposed Action
Staff recommends adoption of the following motion: Move to adopt a resolution to schedule a
public hearing to consider the modification of the Airlake Redevelopment Pro*ect No. 1 and the
establishment of the Tax Increment Financing District No. 19.
Passage of this motion will result in the City Council scheduling a public hearing for October 20' to
consider the creation of a new Tax Increment Financing (TIF) District to facilitate an expansion of the
Fulford Warehouse in Airlake Industrial Park for BTD Manufacturing.
Overview
BTD Manufacturing recently submitted plans for a 200,000 square foot expansion of the existing
304,000 square foot Fulford Warehouse facility located at 21350 Cedar Avenue. BTD is experiencing
considerable growth and needs to add additional warehouse, manufacturing, and office space in
Lakeville and desires to consolidate these operations in one building. The company has submitted a
request for TIF to assist in the $4,347,147 TIF Eligible project costs associated with the project.
BTD Manufacturing has operated in Airlake since 2005 and currently has 215 employees in three
different buildings in Lakeville. In addition to retaining the existing 215 jobs in Lakeville, the
proposed expansion will create an additional 100 jobs in Lakeville in the next two years.
The City Council reviewed this project and request for TIF assistance at the September 15, 2014
Council Work Session. The EDC reviewed this proposed project at their August 26Th meeting and
recommended proceeding with the preparation of a TIF Plan. Staff recommends scheduling the
public hearing for Ocotber20, 2014.
Primary Issues to Consider
Is this request for Tax Increment Financing assistance consistent with the City's policies? The
request is consistent with the City's TIF and Business Subsidy Policies.
Supporting Information
• Resolution scheduling a public hearing for October 20, 2014 to consider the creation TIF
Distri t No. 19., -
David L. Olson, ommunity and Economic Development Director
c: Paul Gintner - BTD, Dave Welte - BTD, Jack Matasosky - APPRO, Mikaela Huot -Springsted
Financial Impact: $ Budgeted: Y/N _Source:
CITY OF LAKEVILLE, MINNESOTA
RESOLUTION NO.
RESOLUTION CALLING A PUBLIC HEARING BY THE CITY UPON
THE REQUEST OF THE HOUSING AND REDEVELOPMENT
AUTHORITY FOR THE CITY OF LAKEVILLE ON THE PROPOSED
MODIFICATION OF THE AIRLAKE REDEVELOPMENT PROJECT
NO. 1 AND THE ESTABLISHMENT OF TAX INCREMENT FINANCING
DISTRICT NO. 19 WITHIN THE REDEVELOPMENT PROJECT AND
THE PROPOSED APPROVAL AND ADOPTION OF MODIFIED
REDEVELOPMENT PLAN AND TAX INCREMENT FINANCING PLAN
RELATING THERETO.
BE IT RESOLVED by the City Council (the "Council") of the City of Lakeville,
Minnesota (the "City"), as follows:
Section 1. Public Hearin. The Council shall meet on October 20, 2014, at
approximately 7:00 P.M., to hold a public hearing at the Council Chambers located at 20195
Holyoke Avenue, Lakeville, Minnesota, on the proposed modification of the Airlake
Redevelopment Project No. 1 and establishment of Tax Increment Financing District No. 19
within the Redevelopment Project in and for the City of Lakeville, Minnesota pursuant to
Minnesota Statutes, Section 469.001 to 469.047 and the proposed approval and adoption of a
Tax Increment Financing Plan relating thereto, all pursuant to and in accordance with Minnesota
Statutes, Sections 469.174 to 469.1794, inclusive, as amended.
Section 2. Notice of Public Hearing Filing of Plans. City staff and consultants are
authorized and directed to prepare the Modification and TIF Plan and to forward such documents
to the appropriate taxing jurisdictions, including Dakota County and Independent School District
No. 192 (Farmington Area Public Schools). The City Clerk is authorized and directed to cause
notice of the hearing to be given, together with appropriate map(s), as required by law, to be
published at least once in the official newspaper of the City not less than 10, nor more than 30,
days prior to October 20, 2014, and to place a copy of the proposed Tax Increment Financing
Plan on file in the Clerk's office at City Hall and to make such copy available for inspection by
the public prior to the public hearing.
Approved and Adopted by the City Council of the City of Lakeville, Minnesota this 22°a day
of September, 2014.
CITY OF LAKEVILLE
Mayor
ATTEST:
City Clerk