HomeMy WebLinkAbout17-065CITY OF LAKEVILLE
RESOLUTION NO. 17-65
RESOLUTION APPROVING THE CONTRACT FOR PRIVATE
DEVELOPMENT BY AND BETWEEN THE CITY OF LAKEVILLE AND
LAKEVILLE 222"d 2017, LLC
AND MENASHA PACKAGING COMPANY, LLC
WHEREAS, by Resolution No.17-02 dated April 17, 2017, the Lakeville Housing and
Redevelopment Authority ("Authority') authorized the City to undertake, on the Authority's
behalf, all public development activities in connection with the development of the Lakeville 222nd
2017, LLC and Menasha Packaging Company, 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. 22 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
$1,000,000 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 Lakeville 222nd 2017, LLC and Menasha
Packaging Company 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 Lakeville 222nd 2017,
LLC and Menasha Packaging Company, LLC including the business subsidy agreement, is
approved and the Mayor and City Clerk are authorized to execute the Contract.
ADOPTED this 15th day of May 2017 by the City Council of the City of Lakeville
CITY OF LAKEVILLE
BY:
Dougl s P. Anderson, Mayor
Charlene Friedges, City lerk
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