HomeMy WebLinkAbout17-02HOUSING AND REDEVELOPMENT AUTHORITY FOR THE CITY OF
LAKEVILLE, MINNESOTA
RESOLUTION NO. 17-02
RESOLUTION APPROVING THE
ESTABLISHMENT OF A TAX INCREMENT FINANCING DISTRICT WITHIN AIRLAKE
REDEVELOPMENT PROJECT NO. 1 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. 22 ("TIF District No. 22") as an economic development
district and adopt a Tax Increment Financing Plan therefor (the "TIF Plan").
C. WHEREAS, on February 27, 2017, 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 TIF
Plan to be prepared and has performed all actions required by law to be performed prior to the
approval of the TIF Plan; and
NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the
Authority that the TIF Plan for TIF District No. 22 is hereby approved.
Adopted this 17th day of April, 2017
Attest:
Arianheeler, Secretary
avis, Chair