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HomeMy WebLinkAbout92-146 f ~ ~ Motion was made by Councilmember Ruhmann , .seconded by Councilmember Mulvihill THE CITY OF LAKEVILLE COUNTY OF DAHOTA STATE OF MINNESOTA RESOLUTION NO. 92-I46 A RESOLUTION APPROVING A MODIFICATION TO AIRLAKE REDEVELOPMENT PROJECT NO. 1, AND ESTABLISHMENT OF TAX INCREMENT FINANCING DISTRICT NO. 13 (IMPERIAL PLASTICS EXPANSION) TO BE LOCATED WITHIN THE REDEVELOPMENT PROJECT AND THE PROPOSED APPROVAL AND ADOPTION OF 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 to the Airlake Redevelopment Project in April of 1990, pursuant to and in accordance with Minnesota Statutes, Sections 469.001 to 469.047, inclusive, as amended. WHEREAS,. the City Council of the City (the "Council") on the date hereof held a public hearing regarding approval of Tax Increment Plans and modified Redevelopment Project Plan, 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 this 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; WHEREAS, the City elects to have the tax increment district contribute to the fiscal disparities pool; 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 Plan; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LAKEVILLE, MINNESOTA, as follows: • -1- t i • • • 1. On the basis of the information presented to the Council at meetings regarding establishment of the Tax Increment Plan, information included in the Plan, information provided at the public hearing and at other Council meetings regarding the Project and the Plan, the Council hereby finds and determines: (a) that the modification of the Project and creation of the District and the adoption of the Plans are in the public interest and to the benefit of the health, safety and welfare of the City; (b) that the District is a renewal and renovation district as defined in Minnesota Statutes, Section Section 469.174, Subd. 10a. It has been determined that the district will eliminate substandard buildings and obsolete production facilities. Thus, the tax increment financing district appears to meet the statutory requirements of a renewal and renovation district. (c) that the Plan conforms to the general plan for the development of the City as a whole; (d) that 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. (e) that the development proposed to be assisted as described in the Plan would not, in the opinion of the Authority, 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; The reasons and supporting facts for each of the findings set forth above have been set forth in writing in the Plan. 2. The Plans which establish the District and modifies the Project are hereby approved and adopted by the City in substantially the form on file with the City on this date. 3. 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 Project and the Plan. 4. Following approval of the Plan by the City Council of the city, the Executive Director is authorized and directed to request the County Auditor of Dakota County to certify the original tax capacity value after fiscal disparities deduction of the real property within the District, as described in the 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 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. • -2- 5. The Authority is authorized and directed to take all actions necessary to iYnplement and carry out the Project and Tax Increment Plans. Adopted this 14th day of September, 1992. r" 0 ATPFSTFJ~; City Clerk (SEAL) •