HomeMy WebLinkAbout03-19-01 CITY OF LAKEVI LLE
HOUSING AND REDEVELOPMENT AUTHORITY MEETING
MARCH 19, 2001
The meeting was called to order at 6:45 PM.
Roll call .was taken. Present: Commissioners Bellows, .Rieb, Luick, Mulvihill.
Also present: Robert A. Erickson, Executive Director; D. Feller, Finance Director;
J. Hawkins, Deputy Clerk.
MINUTES
The minutes of the January 16, 2001 HRA meeting were approved as printed.
ITEMS 3 AND 4
Finance Director Dennis Feller stated that the Legislature is currently. considering
• enactment of laws that would require any amendments to pre-1990 tax increment
financing plans to be approved by April 30, 2001. As such, the proposed
amendment to Tax Increment District No. 9 authorizes the appropriation of tax
increment revenues for acquisition of a parcel at the southeast quadrant of 175`"
Street and Junelle Path for future right-of-way. The right-of-way is an integral part
of the County Road 50/175`" Street/I-35 Interchange improvement project.
The proposed amendment to Tax Increment Financing District No. 10 authorizes
the appropriation of the excess tax increment revenues, after the. payment of
existing debt and fiscal disparities, for improvements to the I-35 and County Road
70 interchange project. The tax increments would be pledged to the payment of
the $2.6 million General Obligation Tax Increment Bonds Series 2001, which
would finance, in part, design, right of way acquisition, and construction of the
interchange and frontage road improvements.
01.03 Motion was made by Mulvihill seconded by Johnson, to recommend City Council
approval of Resolution No. 01-2 a resolution adopting the amended Tax
Increment Financing Plan for Tax Increment Financing District No. 9 and
Resolution No, 01-3 a resolutionadopting the amended Tax Increment Financing
Plan. for Tax Increment Financing District No. 10.
• Roll call was taken on the motion. Ayes: Mulvihill, Rieb, Luick, Bellows, and
Johnson.
Housing and Redevelopment Authority Meeting
March 19, 2001
Page -2-
There being no further business, the meeting adjourned at 7:00 PM.
Respectfully submitted,
J it R. Hawkins, Deputy Clerk
David Luick, Chair
•