HomeMy WebLinkAboutHRA Item 04September 19, 2014 0 Item No.
RESOLUTION REQUESTING THE CITY COUNCIL CALL 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 HRA Meeting
Proposed Action
Staff recommends adoption of the following motion: Move to adopt a resolution requesting the City
Council call a public hearing to consider the modification of the Airlake Redevelopment Project 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 20th 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 requesting the City Council to schedule a public hearing for October 22nd th to
consider the creation TIF District No. 19.
David L. Olson, Community and Economic D ve elopment Director
c: Paul Gintner — BTD, Dave Welte — BTD, Jack Matasosk — APPRO, Mikaela Huot -Springsted
Financial Impact: $ Budgeted: Y/N
HOUSING AND REDEVELOPMENT AUTHORITY FOR THE CITY OF
LAKEVILLE, MINNESOTA
CITY OF LAKEVILLE
DAKOTA COUNTY
STATE OF MINNESOTA
RESOLUTION NO.
RESOLUTION REQUESTING THE CITY COUNCIL OF THE CITY OF
LAKEVILLE TO CALL FOR PUBLIC HEARING ON THE PROPOSED
MODIFICATION OF AIRLAKE REDEVELOPMENT PROJECT NO. 1, AND
THE ESTABLISHMENT OF TAX INCREMENT FINANCING DISTRICT NO. 19
TO BE LOCATED WITHIN THE REDEVELOPMENT PROJECT AND THE
PROPOSED APPROVAL AND ADOPTION OF A MODIFIED
REDEVELOPMENT PLAN AND TAX INCREMENT FINANCING PLAN
RELATING THERETO.
BE IT RESOLVED, by the Board of Commissioners of the Housing and Redevelopment
Authority for the City of Lakeville, Minnesota (the "Authority"), as follows:
1. The Authority proposes to modify Redevelopment Project No. 1 (the "Project"), establish Tax
Increment Financing District No. 19 (the "Tax Increment District") to be located within the
Project and to adopt a modified Redevelopment Plan (the "Redevelopment Plan") and Tax
Increment Financing Plan (the "Financing Plan") relating thereto, pursuant to and in conformance
with Minnesota Statutes, Sections 469.001 to 469.047, inclusive, and Minnesota Statutes,
Sections 469.174 to 469.1794, inclusive, as amended.
2. The Authority hereby requests the City Council of the City of Lakeville, Minnesota (the "City")
to call for a public hearing to consider the modification of the Project, establishment of the Tax
Increment District within the Project, and the proposed approval and adoption of the modified
Redevelopment Plan and Financing Plan relating thereto and to cause notice of said public
hearing to be given as required by law.
The Authority hereby directs the Executive Director to transmit a copy of the modified
Redevelopment Plan and Financing Plan to the Dakota County Board of Commissioners and the
School Board in which the proposed Tax Increment District is to be located, and to advise the
Commissioners of the County Board and the residents of such School and County Boards that the
Authority intends to consider approval of the modified Redevelopment Plan and Financing Plan
at its public meeting.
4. The Executive Director of the Authority is hereby directed to submit the proposed modified
Redevelopment Plan and Financing Plan to the City Council.
Approved and Adopted by the Housing and Redevelopment Authority for the City of Lakeville,
Minnesota this 22°a day of September, 2014.
Chair
ATTEST:
Secretary