HomeMy WebLinkAbout15-015CITY OF LAKEVILLE
DAKOTA COUNTY, MINNESOTA
RESOLUTION NO. 15-15
RESOLUTION APPROVING THE CONTRACT FOR PRIVATE
DEVELOPMENT BY AND BETWEEN THE CITY OF LAKEVILLE AND
FULFORD GROUP LLC
AND BTD MANUFACTURING INC.
WHEREAS, by Resolution No. 14-04 dated September 22, 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 Fulford Group
LLC and BTD Manufacturing Inc. ("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. 19 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
$1,077,832 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 Fulford Group LLC and BTD Manufacturing Inc.
("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 Fulford Group
LLC and BTD Manufacturing Inc. including the business subsidy, is approved and the Mayor and
City Clerk are authorized to execute the Contract.
ADOPTED this 2nd day of February, 2015, by the City Council of the City of Lakeville
CITY OF LAKEVILLE
BY: /-/- —e � �- -
MA Little, Mfyor
AZ
Charlene Friedges, Ci lerk
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