HomeMy WebLinkAbout15-106CITY OF LAKEVILLE
DAKOTA COUNTY, MINNESOTA
RESOLUTION NO. 15-106
RESOLUTION APPROVING THE CONTRACT FOR PRIVATE
DEVELOPMENT BY AND BETWEEN THE CITY OF LAKEVILLE AND
SSB MANUFACTURING COMPANY.
AND SCANNELL PROPOERTIES #247 LLC
WHEREAS, by Resolution No. 15-05 dated September 21, 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 SSB
Manufacturing Company and Scannell Properties #247 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. 21 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
$1,67,350 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 SSB Manufacturing Company and Manufacturing
Inc. and Scannell Properties #247 LLC ("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 SSB
Manufacturing Company and Scannell Properties #247 LLC including the business subsidy
agreement, is approved and the Mayor and City Clerk are authorized to execute the Contract.
ADOPTED this 21 st day of September, 2015
CITY OF LAKEVILLE
BY:
Mat Little, ayor
ATT ST:
Charlene Friedges, City Cle
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