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HomeMy WebLinkAbout99-157 CERTIFICATION OF MINUTES Governmental Unit: City of Lakeville, Minnesota Governing Body: City Council Kind, date, time and place of meeting: A regular meeting held June 21,1999, at 7:00 o'clock P.M., at the City Hall, Lakeville, Minnesota. Members present: Ryan, Zaun, Sindt, Mulvihill, Luick Members absent: N/A Documents Attached: Minutes of said meeting (including): RESOLUTION NO. 99-15 7 RESOLUTION APPROVING AN AMENDMENT TO INTEREST • REDUCTION PROGRAM AND HOUSING DEVELOPMENT PROJECT PLAN AND TO TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT N0.8 I, the undersigned, being the duly qualified and acting recording officer of the public corporation issuing the bonds referred to in the title of this certificate, certify that the documents attached hereto, as described above, have been carefully compared with the original records of said corporation in my legal custody, from which they have been transcribed; that said documents are a correct and complete transcript of the minutes of a meeting of the governing body of said corporation, and correct and complete copies of all resolutions and other actions taken and of all documents approved by the governing body at said meeting, so far as they relate to said bonds; and that said meeting was duly held by the governing body at the time and place and was attended throughout by the members indicated above, pursuant to call and notice of such meeting given as required by law. WITNESS my hand officially as such recording officer this 21 day of June, 1999. City Clerk • Councilmember xyan introduced the following resolution and moved its adoption, which motion was seconded by Councilmember sindt RESOLUTION APPROVING AN AMENDMENT TO INTEREST REDUCTION PROGRAM AND HOUSING DEVELOPMENT PROJECT PLAN AND TO TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT N0.8 WHEREAS, the Housing and Redevelopment Authority of the City of Lakeville (the "Authority") has heretofore prepared and approved an Interest Reduction Program and Housing Development Project Plan, as amended through Modification No. 4 (the "Existing Project Plan") and a Tax Increment Financing Plan, as amended through Modification No. 4 (the "Existing TIF Plan") for Tax Increment Financing District No. 8 in the City of Lakeville (the "TIF District"), all pursuant to Minnesota Statutes, Sections 469.001 through 469.047 and Sections 469.174 through 469.179 (collectively, the "Act"); and WHEREAS, the Authority now proposes to amend the Existing Project Plan and the Existing TIF Plan to (i) expand the Project Area (but not the TIF District) to take in additional property to be acquired and developed (potentially, in part, into an arts/cultural center and potentially into additional housing and related supportive uses) and (ii) amend the budget for the TIF District to provide funding for a portion of the cost of the foregoing acquisition and improvement; and WHEREAS, the Authority has .reviewed and approved a draft of amendments (Modification No. 5) to the Existing Project Plan and Existing TIF Plan (the "Amendments") and has transmitted the Amendments to the City Council for consideration and approval; and WHEREAS, the Authority has submitted copies of the proposed Amendments to the County Board of Commissioners and the school board of the local school district not less than 30 days prior to the date hereof; WHEREAS, the City Council of the City (the "Council"), on the date hereof, held a public hearing regarding approval of the Amendments, for which hearing notice was published in a newspaper of general circulation in the City not less than 10 or more than 30 days prior to the date hereof, including a map of the Project Area and the TIF District; WHEREAS, the City has performed all actions required by law to be performed prior to the consideration of the Amendments. • • NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lakeville, Minnesota, as follows: 1. The Council hereby makes the following findings: a) The TIF District is a housing district pursuant to Minnesota Statutes, Section 469.174, Subdivision 11, since it consists of a project, or a portion of a project, intended for occupancy, in part, by persons and families of low and moderate income as defined in said Subdivision 11. Developments within the Project Area assisted to date, and proposed to be assisted pursuant to the Amendments, have been and will be housing developments meeting the foregoing low and moderate income guidelines, or supportive commercial and other development as permitted bylaw. b) With respect to the property proposed to be added to the Project Area by the Amendments and assisted by the tax increments from the TIF District, since the property includes obsolete buildings which will require demolition or extensive renovation in order to be used for housing and/or supportive commercial and social purposes, private developers will require assistance to develop such property for such uses at a cost competitive with undeveloped land or with other land not requiring • demolition or extensive renovation; consequently, the proposed development of the property to be added to the Project Area, in the opinion of the City, would not reasonably be expected to occur solely through private investment within the reasonably foreseeable future. c) The Amendments will afford maximum opportunity, consistent with the sound needs of the City as a whole, for the development and redevelopment by private enterprise of the property proposed to be . added to the Project Area and assisted by the tax increments from the TIF District, as the Amendments will continue to enable the City to provide suitable sites for development for housing and supportive services in the Project Area and the City will continue to require that such development be undertaken primarily by private enterprise. d) The Amendments conform to the general plan for the development of the City as a whole and the Amendments have been approved by the Planning Commission. 2. The Amendments are hereby approved and adopted by the City in substantially the form on file with the City on this date. • • 3. Except as amended by the Amendments, the Existing Project Plan and Existing TIF Plan, and the related resolutions adopting and approving the Existing Project Plan and Existing TIF Plan, and the findings originally contained therein, are hereby confirmed as if set forth in full in this resolution. 4. The City Administrator is authorized to take all necessary action on behalf of the City, subject to such approval of the Council as is required by law, to implement the Existing Project Plan and Existing TIF Plan, as amended by the Amendments. 5. The City Administrator is also authorized and directed to file a copy of the Existing Project Plan and Existing TIF Plan, as amended by the Amendments, with the Commissioner of Revenue. Upon vote being taken thereon, the following voted in favor of the foregoing resolution: and the following voted against the same: whereupon the resolution was declared duly passed and adopted. •