HomeMy WebLinkAbout15-02HOUSING AND REDEVELOPMENT AUTHORITY FOR THE CITY OF
LAKEVILLE, MINNESOTA
CITY OF LAKEVILLE
RESOLUTION NO. 15-02
RESOLUTION APPROVING THE MODIFICATION OF THE REDEVELOPMENT PLAN
FOR REDEVELOPMENT PROJECT NO. 1 AND
ESTABLISHING A TAX INCREMENT FINANCING DISTRICT AND
APPROVING A TAX INCREMENT FINANCING PLAN THEREFOR
A. WHEREAS, the Housing and Redevelopment Authority for the City of Lakeville
("Authority") and the City of Lakeville, Minnesota (the "City") have adopted a Redevelopment
Plan (the "Redevelopment Plan") and established the Airlake Redevelopment Project Area and
created Tax Increment Financing Districts within the Airlake Redevelopment Project Area and
adopted Tax Increment Financing Plans with respect to these Tax Increment Districts pursuant to
Chapter 469 of the Minnesota Statutes in an effort to encourage development and redevelopment
of certain designated areas within the City, which Redevelopment Plan, plans and districts have
been amended from time to time; and
B. WHEREAS, it has been proposed that the City establish Tax Increment Financing
(Economic Development) District No. 20 ("TIF District No. 20") as an economic development
district and adopt a Tax Increment Financing Plan therefor (the "TIF Plan").
C. WHEREAS, by Resolution No.15-01 dated May 4, 2015, the Authority
authorized the City to undertake, on the Authority's behalf, all of the public development
activities in connection with the development of the Developer's proposal, including the
administration of tax increment as accounted for in the City's financial statements; and
D. WHEREAS, the Authority has investigated the facts and have caused the
Redevelopment Plan and the TIF Plan to be prepared and has performed all actions required by
law to be performed prior to the approval of the Redevelopment Plan and the TIF Plan; and
NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the
Authority the Redevelopment Plan, as amended, and the TIF Plan for TIF District No. 20 are
hereby approved.
Adopted this 15th day of June, 2015
Attest:
avis, Secretary