HomeMy WebLinkAbout15-05HOUSING AND REDEVELOPMENT AUTHORITY FOR THE CITY OF
LAKEVILLE, MINNESOTA
RESOLUTION NO. 15-05
RESOLUTION APPROVING THE MODIFICATION OF THE REDEVELOPMENT PLAN
FOR AIRLAKE REDEVELOPMENT PROJECT AREA NO. 1 AND
ESTABLISHING A TAX INCREMENT FINANCING DISTRICT 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 No. 1 and created Tax
Increment Financing Districts within the Airlake Redevelopment Project Area No. 1 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 Authority and the City establish Tax Increment
Financing (Economic Development) District No. 21 ("TIF District No. 21") as an economic development
district and adopt a Tax Increment Financing Plan therefor (the "TIF Plan").
C. WHEREAS, by the Authority requests 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 Redevelopment
Plan and the TIF Plan to be prepared and has performed all actions required by law to be performed prior
to the approval of the Redevelopment Plan and the TIF Plan; and
NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the Authority the
Redevelopment Plan, as amended, and the TIF Plan for TIF District No. 21 are hereby approved.
Adopted this 21St day of September, 2015
Douglas P. Anderson, Chair
Attest:
Ba Da s, Secretary