HomeMy WebLinkAbout00-05HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF LAKEVILLE
COUNTY OF DAKOTA COUNTY
STATE OF MINNESOTA
RESOLUTION NO. 00-5
RESOLUTION AUTHORIZING THE CITY COUNCIL OF
THE CITY OF LAKEVILLE TO UNDERTAKE CERTAIN
DEVELOPMENT ACTIVITIES IN CONNECTION WITH TAX
INCREMENT FINANCING DISTRICT NO. 10 WITHIN
1-35 REDEVELOPMENT PROJECT NO. 1
BE IT RESOLVED by the Housing and Redevelopment
Authority (the "Authority") in and for the City of Lakeville, Minnesota
(the "City") as follows:
Section 1. Recitals.
1.01 The Authority and the City have heretofore approved the
establishment of the 1-35 Redevelopment Project No. 1 within the City (the
"Project") and the establishment of the Tax Increment Financing District No. 10
the "District") within the Project, and have approved a Redevelopment Plan, as
modified, for the Project (the "Redevelopment Plan") and a Tax Increment
Financing Plan for the District (the "Tax Increment Financing Plan").
1.02 The Redevelopment Plan and Tax Increment Financing Plan
contemplate that the Authority and City would assist development within the
District (commonly known as Fairfield Business Park) by defraying all or a portion
of the public redevelopment costs identified in the Redevelopment Plan and Tax
Increment Financing Plan.
1.03 D.R. Horton Inc. -Minnesota (the "Company") proposed to undertake
a project (the D.R.Horton Project") within part of the Fairfield Business Park
platted as Lot 2, Block 1, Fairfield Business Campus 3rd Addition, consisting of
the acquisition of land from the City and the construction and furnishing thereon
of an office building.
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1.04 The Company has proposed that the Authority and City assist the
D.R. Horton improvements by providing the land at a reduced cost, landscaping
and storm sewer area charges necessary to serve the Fairfield Business Park,
including the D.R. Horton site.
1.05 Pursuant to Minnesota Statutes, Sections 469.001 through 469.047,
and Sections 469.174 through 469.179 (the "Acts"), the Authority has the primary
responsibility for administering the Project and the District, and for undertaking
the activities necessary to carry out the Redevelopment Plan and Tax Increment
Financing Plan. In the instant case, since the City owns the Fairfield Business
Park property, it is determined to be necessary and desirable for the Authority to
authorize the City to undertake, on behalf of the Authority, the public
redevelopment activities required in connection with the D.R. Horton Project.
Section 2. Authorization to City.
2.01. The Authority, pursuant to the provisions of the Acts and particularly
Section 469.041, Minnesota Statutes, hereby authorizes the City, on behalf of the
Authority, to undertake all public redevelopment activities in connection with the
redevelopment of the Fairfield Business Park which the Authority could itself
undertake pursuant to the Acts, the Redevelopment Plan and Tax Increment
Financing Plan, including, without limitation, the entering into contracts for the
site preparation and street and public utility work necessary or desirable in
connection with the D.R. Horton Project and the entering into a Contract for
Private Redevelopment or similar agreement with the Company setting forth the
terms and conditions upon which the Authority and City will provide assistance to
the D.R. Horton Project.
2.02 A copy of this resolution shall be forwarded to the Council and be
placed on file in the office of the City Clerk.
ADOPTED this 18 day Of Sept. , 2000.
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Duane Zaun, Ch &I
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Robert A. Erickson, Executive Director
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