HomeMy WebLinkAboutItem 02 HRA
CITY OF LAKEVILLE
HOUSING AND REDEVELOPMENT AUTHORITY
AUGUST 6, 2018
Chair Davis called the meeting to order at 6:45 p.m. in the Council Chambers at City Hall.
Present: Commissioners Davis, Wheeler, Hellier, LaBeau
Also present: Justin Miller, Executive Director; David Olson, Community & Economic
Development Director; Charlene Friedges, City Clerk
Item 2
Motion was made by LaBeau, seconded by Heller, to approve minutes of the June 4, 2018
H.R.A. meeting.
Roll call was taken on the motion. Ayes – Davis, LaBeau, Wheeler, Hellier
Item 3
Community & Economic Development Director Dave Olson presented the application of JAS
Warehouse Property, LLC and Schneiderman Furniture, Inc. for tax increment financing for a
proposed 130,000 square foot distribution center in Interstate South Logistics Park. Tax
increment financing is being requested due to the significant costs to extend road and utility
infrastructure to the site to make this land developable. The County Assessor has provided an
estimated market value of $6.5 million for the proposed project, which would generate an
estimated $814,041 of tax increment over 11 years. A maximum of $732,637 would be
provided to the project to offset the $1.3 million infrastructure and site development costs.
Motion was made by Wheeler, seconded by Hellier, to approve Resolution No. 18-02
approving the establishment of a Tax Increment Financing District within Airlake
Redevelopment Project No. 1 and approving a Tax Increment Financing Plan therefor.
Roll call was taken on the motion. Ayes – LaBeau, Wheeler, Hellier, Davis
There being no further business, Chair Davis adjourned the meeting at 6:57 p.m.
Respectfully submitted,
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Charlene Friedges, City Clerk
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Bart Davis, Chair