HomeMy WebLinkAbout15-03HOUSING AND REDEVELOPMENT AUTHORITY FOR THE CITY
OF LAKEVILLE, MINNESOTA
RESOLUTION NO. 15-03
RESOLUTION APPROVING AN ADMINISTRATIVE AMENDMENT
TO THE TAX INCREMENT FINANCING PLAN FOR TAX
INCREMENT FINANCING (ECONOMIC DEVELOPMENT)
DISTRICT NO. 19
WHEREAS, by a resolution approved October 20, 2014 the Housing and
Redevelopment Authority for the City of Lakeville (the "Authority") approved the
Redevelopment Plan modification for Airlake Redevelopment Project No. 1 (the "Project
Area") and the Tax Increment Financing Plan (the "Plan") for Tax Increment Financing
(Economic Development) District No. 19 (the "TIF District"), pursuant to and in
conformity with Minnesota Statutes, Sections 469.124 through 469.133 and Sections
469.174 through 469.1794 (the "TIF Act"); and
WHEREAS, by a resolution approved October 20, 2014, the City Council
of the City of Lakeville (the "City") after a duly noticed public hearing, approved the
Plan for the TIF District; and
WHEREAS, the City and Authority have proposed an administrative
amendment to the Tax Increment Financing Plan for the TIF District (the
"Modification"), in order to update the parcel ID number and legal description of the
property within the TIF District, pursuant to and in accordance with the Act; and
WHEREAS, under Minnesota Statutes, Section 469.175, subdivision 4 of
the TIF Act, the Authority may modify the TIF Plan for the TIF District without the
notice and hearings required for a new district, if the changes are not those described in
Section 469.175, subdivision 4(b), clauses (1) through (6); and
WHEREAS, the proposed modification to the TIF Plan does not increase
the total estimated cost of the project or the total amount of bonded indebtedness, and
does not increase the geographic boundaries of the TIF District.
NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners
of the Housing and Redevelopment Authority for the City of Lakeville, Minnesota as
follows:
The administrative amendment to the Plan is hereby approved in
substantially the form on file in City Hall.
2. Upon approval of the Modification to the Plan by the Board of the
Authority, the Community Development Director is authorized to forward a copy
of the modified Plan to the Department of Revenue and the State Auditor pursuant
to Minnesota Statutes, Section 469.175, subdivision 4a.
3. The City Clerk is authorized and directed to forward a copy of the Plan to
Dakota County for informational purposes.
Adopted this 15'h day of June, 2015
Attes .
art Davis, Secretary
ON
NONg�Anderson, Chair