HomeMy WebLinkAbout15-083CITY OF LAKEVILLE
DAKOTA COUNTY, MINNESOTA
RESOLUTION NO. 15-83
RESOLUTION APPROVING THE CONTRACT FOR PRIVATE
DEVELOPMENT BY AND BETWEEN THE CITY OF LAKEVILLE AND
MENDELL MACHINE AND MANUFACTURING INC.
AND LAKEVILLE TECHNOLOGIES, LLC
WHEREAS, by Resolution No.15-01 dated May 4, 2015, 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 Mendell Machine
and Manufacturing Inc. and Lakeville Technologies LLC ("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. 20 as an Economic Development District and has adopted the
Tax Increment Financing Plan therefor; and
WHEREAS, the Developer has requested a business subsidy in an amount not to exceed
$155,912 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 Mendell Machine and Manufacturing Inc. and
Lakeville Technologies LLC ("Contract"); and
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 Mendell
Machine and Manufacturing Inc. and Lakeville Technologies LLC, including the business subsidy
agreement, is approved and the Mayor and City Clerk are authorized to execute the Contract.
ADOPTED this 6th day of July, 2015, by the City Council of the City of Lakeville
CITY OF LAKEVILLE
BY:
Matt ittle, Mayor
A EST:
Charlene Friedges, City erk
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