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Home My WebLink About22-013The Mayor stated that this was the time and place fixed by administrative action for a public hearing to be held pursuant to Minnesota Statutes, Sections 469.1812 to 469.1815, as amended, to consider the property tax abatement (the "Abatement") in connection with financing the purchase and improvement of the Hasse ice arena located at 8525 215th Street West in the City (the "Facilities") and a proposal that the City issue its taxable general obligation tax abatement bonds in an aggregate principal amount not to exceed $5,000,000 (the "Bonds"), under Sections 469.1813 and Chapter 475, as amended, for the purpose of financing the acquisition of the Facilities. The City Clerk presented an affidavit showing publication of the notice of public hearing on January 28, 2022, in the SunThisweek, the official newspaper of the City. The affidavit was examined, found to be satisfactory and ordered placed on file with the City Clerk. The Mayor then opened the meeting for the public hearing. The purpose of the hearing was explained, the nature of the proposed Abatement and Bonds was discussed, and all persons present who desired to do so were afforded an opportunity to express their views with respect to the proposal to undertake the financing, in response to which the following persons either appeared, were recognized and made statements, or filed written comments with the City Clerk before the date set for the hearing, summaries of which appear opposite their respective names: Name of Speaker N/A Summary of Views N/A The City Clerk reported that no written comments had been filed in her office before the date of the hearing. After all persons who wished to do so had stated or filed their views on proposal, the Mayor declared the public hearing to be closed. 4883-1891-5337\5 CITY OF LAKEVILLE RESOLUTION NO. 22-13 RESOLUTION RELATING TO A TAX ABATEMENT AND TAXABLE GENERAL OBLIGATION BONDS; GRANTING THE ABATEMENT AND APROVING ISSUANCE OF THE BONDS BE IT RESOLVED by the City Council of the City of Lakeville, Minnesota (the "City"), as follows: Section 1. Authorization and Recitals. 1.01. The City, pursuant to Minnesota Statutes, Sections 469.1812 to 469.1815, as amended (the "Abatement Act"), is authorized to grant an abatement of the property taxes imposed by the City on a parcel of property, if certain conditions are met, through the adoption of a resolution specifying the terms of the abatement. 1.02. The City proposes to assist in financing the purchase and improvement of the Hasse ice arena located at 8525 215th Street West in the City (the "Facilities") for the purpose of providing recreational opportunities in the City (the "Project"). 1.03. On the date hereof, this Council conducted a public hearing, pursuant to the Abatement Act, on the desirability of granting an abatement of property taxes on certain properties expected to be benefited by the proposed Project, which properties include those with the tax parcel identification numbers listed on Exhibit A hereto (the "Property"), and the proposal that the City issue its taxable general obligation tax abatement bonds in an approximate aggregate principal amount of $5,000,000 (the "Bonds"), under the Abatement Act, for the purpose of financing a portion of the costs of the Project. Notice of the public hearing was duly published as required by law in the Sun Thisweek, the official newspaper of the City, on January 28, 2022, which date is no fewer than ten and no more than 30 days prior to the date hereof. Section 2. Findings. On the basis of the information compiled by the City and elicited at the public hearing referred to in Section 1.03, it is hereby found, determined and declared: 2.01. The City expects that the benefits of the proposed abatement are not less than the costs of the proposed abatement. The public benefits that the City expects to result from the abatement are the provision of recreational facilities for the benefit of residents of the City. 2.02. The Property is not located in a tax increment financing district. 4883-1891-5337\5 2.03. The granting of the proposed abatement will not cause the aggregate amount of abatements granted by the City under the Abatement Act in any year to exceed the greater of (i) ten percent (10.00%) of the City's net tax capacity for the taxes payable year to which the abatement applies, or (ii) $200,000. 2.04. It is in the best interests of the City to grant the tax abatement authorized in this Resolution. 2.05. Under Section 469.1813, Subdivision 9 of the Abatement Act, it is not necessary for the City to obtain the consent of any owner of the Property to grant an abatement. Section 3. Granting of Tax Abatement. 3.01. A property tax abatement (the "Abatement") is hereby granted in respect of property taxes levied by the City on the Property for nine (9) years. The Abatement will reduce the taxes for the Property, and the total amount of the Abatement is estimated to be approximately $5,000,000. 3.02. The City shall retain the Abatement and apply it to payment of all or a portion of the costs of the Project or to the payment of bonds of the City issued to finance costs of the Project. 3.03. The Abatement may be modified or terminated at any time by the City Council in accordance with the Abatement Act. Section 4. Issuance of the Bonds. The issuance of the Bonds, not exceeding the amount above described, for the purpose above described, is hereby approved. ADOPTED by the Lakeville City Council this 7t' day of February 2022 4883-1891-5337\5 ATTEST: Charlene Friedges, Oty Clerk CITY OF LAKEVILLE By: , Douglas P. Anderson, Mayor VOTE Anderson Hel ier Lee Volk Bermel Aye 2r, ell,C� Nay ❑ ❑ ❑ ❑ ❑ Abstain ❑ ❑ ❑ ❑ ❑ Absent ❑ ❑ ❑ ❑ ❑ 4883-1891-5337\5 EXHIBIT A Tax Parcel Identification Numbers 220290054020 221697502120 221697602070 221697704061 220290080022 221697503010 221697602080 221697704080 220290080030 221697503030 221697602090 221697704090 220290080040 221697503040 221697602100 221697704100 220290086011 221697503050 221697602110 221697704110 220290086012 221697503060 221697602120 221697704120 220290086013 221697503070 221697602130 221697704130 220290086015 221697503080 221697602140 221697704140 220290086016 221697503090 221697602150 221697801010 220290086017 221697503120 221697602160 221697801020 220290086018 221697503130 221697602170 221697801030 220290086019 221697503140 221697602180 221697801040 220300002030 221697504010 221697602190 221697801050 220300002040 221697504030 221697602200 221697801060 220300002060 221697504040 221697602220 221697801070 220300002070 221697504050 221697602230 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