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HomeMy WebLinkAbout94-177 Motion for adoption of the following resolution was made by Councilmember Sindt ,seconded by Councilmember Mulvihill THE CITY OF LABEVILLE COUNTY OF DAKOTA STATE OF MINNESOTA RESOLUTION NO. 94-177 A RESOLUTION APPROVING A MODIFICATION TO AIRLAKE REDEVELOPMENT PROJECT NO. 1, AND ESTABLISHMENT OF TAX INCREMENT FINANCING DISTRICT NO. 15 (CENTURY REFINING) TO BE LOCATED WITHIN THE REDEVELOPMENT PROJECT AND APPROVING A MODIFIED REDEVELOPMENT PLAN AND TAX INCREMENT FINANCING PLAN RELATING THERETO. WHEREAS, The Housing and Redevelopment Authority in and for the City of Lakeville, Minnesota (the "Authority") and the City of Lakeville, Minnesota (the "City"), established the Airlake Redevelopment Project (the "Project") in July of 1984, pursuant to Minnesota Statutes, Section 469.001 to 469.047, inclusive, as amended. WHEREAS, the Authority adopted Modification No. 1, 2 and 3 to the Airlake Redevelopment Project in April of 1990, July 6, 1992, and July 18, 1994 pursuant to and in accordance with Minnesota Statutes, Sections 469.001 to 469.047, inclusive, as amended. WHEREAS, the Authority has heretofore established various tax increment financing districts within the Project; and WHEREAS, the Authority has now prepared Modification No. 4 to the Airlake Redevelopment Project No. 1 and a Tax Increment Financing Plan for Tax Increment Financing District No. 15 (the "District") within the Project and has forwarded said documents to the City Council of the City (the "Council") for review and action; and WHEREAS, the Council on the date hereof held a public hearing regarding approval of the Tax Increment Plan ("TIF Plan") and modified Redevelopment Project Plan ("Modified Project Plan" and, together with the TIF Plan, the "Plans"), 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; and WHEREAS, the Authority has submitted the Plans to the County Board of Commissioners for Dakota County and the school boards of the school district in which the District is located and has notified such County Board and such school boards that the establishment of the District and modification of the Project will be considered at this meeting; and • -1- • WHEREAS, the Authority and the City have performed all actions required by law to be performed prior to the establishment of the District and the approval and adoption of the Plans. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LAKEVILLE, MINNESOTA, as follows: 1. On the basis of the information presented to the Council at meetings regarding modification of the Project, information included in the Modified Project Plan, information provided at the public hearing and at other Council meetings regarding the Project, the Council hereby finds and determines that (i) the land in the Project would not be made available for redevelopment without the financial aid provided pursuant to the Modified Project Plan, (ii) the Modified Project Plan affords maximum opportunity, consistent with the needs of the City as a whole, for the redevelopment of the Project by private enterprise and (iii) the Modified Project Plan conforms to the general plan for the development of the City as a whole. The Modified Project Plan is hereby approved and adopted substantially in the form on file with the City on this date. 2. On the basis of the information presented to the Council at meetings regarding the TIF Plan and the establishment of the District, information included in the TIF Plan, information provided at the public hearing and at other Council meetings regarding the District and the TIF Plan, the Council hereby finds and determines as follows: (a) The creation of the District and the adoption of the TIF Plan are in the public interest and to the benefit of the health, safety and welfare of the City. (b) The District is a renewal and renovation district as defined in Minnesota Statutes, Section Section 469.174, Subd. IOa. The basis for this finding is detailed in Appendix C to the TIF Plan which is incorporated herein by reference. (c) The TIF Plan conforms to the general plan for the development and redevelopment of the City as a whole and has been reviewed and approved by the planning commission of the City. (d) The Plan will afford maximum opportunity, consistent with the sound needs of the City as a whole for the development of the Project by private enterprise since the City will be providing land write-down and infrastructure assistance and private enterprise will be primarily responsible for construction, ownership and operation of the commercial/industrial enterprises. (e) The development proposed to be assisted as described in the TIF Plan would not, in the opinion of the City, reasonably be expected to occur within the reasonably foreseeable future through private investment, and that therefore the use of tax increment financing is deemed necessary. Reference is made to Appendix B to the TIF Plan which is incorporated herein by reference and which discusses the need for tax increment • f inaneing. -2- r • 3. Based upon the foregoing, the TIF Plan is hereby approved and adopted by the City in substantially the form on file with the City on this date. 4. The City Administrator is authorized and directed to take all action on behalf of the City, subject to such approval of this Council as is required by law, to implement the Plans. 5. Following approval of the Plan by the City Council of the City, the Executive Director of the Authority is authorized and directed to request the County Auditor of Dakota County to certify the original tax capacity value of the real property within the District, as described in the TIF Plan, and to certify in each year hereafter the amount by which the tax capacity value has increased or decreased from the original tax capacity value of the District, and to remit to the Authority each year, commencing on the date indicated in the TIF Plan, that portion of all taxes paid in that year on real property in the District which the captured tax capacity value bears to the then current tax capacity value, all pursuant to Minnesota Statutes, Section 469.175. 6. The Authority is authorized and directed to take all actions necessary to implement and carry out the Plans. Adopted this 6th day of September, 1994. a or • TTE ED: Cit Jerk (SEAL) -3-