HomeMy WebLinkAbout18-02HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE
CITY OF LAKEVILLE,
DAKOTA COUNTY, STATE OF MINNESOTA
RESOLUTION NO. 18-02
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. 23 ("TIF District No. 23") as an economic development
district and adopt a Tax Increment Financing Plan therefor (the "TIF Plan").
C. WHEREAS, on June 4, 2018, 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. 23 is hereby approved.
ADOPTED by the Housing and Redevelopment Authority in and for the City of Lakeville,
Minnesota, this 6th day of August, 2018
HOUSING AND REDEVELOPMENT
AUTHORITY IN AND FOR THE CITY
OF KEVILLE, MINNESOTA
vis, Chair
Attest
Justin Miller, Executive Director