The URL can be used to link to this page

Home My WebLink About89-056 . • ~ Motion was made by Councilman Harvey, Seconded by Councilmember Sindt THE CITY OF LAKEVILLE COUNTY OF DAKOTA STATE OF MINNESOTA RESOLUTION NO. 89-56 A RESOLUTION APPROVING A MODIFIED SOUTHFORK I HOUSING DEVELOPMENT PROJECT PLAN, INTEREST RATE REDUCTION PROGRAM AND HOUSING TAX INCREMENT DISTRICT NO. 8, AND ADOPT THE MODIFIED PLANS AND PROGRAMS 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 Southfork I Housing Development Project Plan, Interest Rate Reduction Program and Housing Tax Increment District No. 8, pursuant to and in accordance with Minnesota Statutes, Sections 469.001 to 469.047 and Sections 469.174 to 469.179, inclusive, as amended. WHEREAS, the Authority adopted Modification No. 1 to the Southfork I Housing Development Project Plan, Interest Rate Reduction Program and Housing Tax Increment District No. 8, pursuant to and in accordance with Minnesota Statutes, Sections 469.001 to 469.047 and Sections 469.174 to 469.179, inclusive, as • amended. WHEREAS, the City Council of the City (the "Council") on the date hereof held a public hearing regarding approval of the Plans, Project and Program, 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; and WHEREAS, the Authority has submitted the Plan to the County Board of Commissioners for Dakota County and the school board of the school district in which this District is located and has notified such County Board and such school boards that the modification of the District, Project and Programs will be considered at this meeting; 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. On the basis of the information presented to the Council at meetings regarding establishment of the 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 District, Project and Program and the adoption of the modified Plans and Programs are in the public interest and to the benefit of the health, safety and welfare of the City; 7? ~ -a.. (b) that the modification of the District will not alter its designation as a Tax Increment Housing District; (c) that the Plan modification will afford maximum opportunity, consistent with the sound needs of the City as a whole for the development of the Project by private enterprise. (d) 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; (e) that the Plan conforms to the general plan for the development of the City as a whole; The reasons and supporting facts for each of the findings set forth above have been set forth in writing in the Plan. 2. The Plan which modifies the District, Project and Program is 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, the Executive Director, together with the Authority's financial advisor, legal counsel and bond counsel, is authorized and directed to proceed with the implementation of the Plan modification, and for this purpose to negotiate, draft, prepare and present to this Board for its consideration all resolutions, documents and contracts necessary .for this purpose. Adopted this 17th day of April, 1989. r At est: City Clerk (SEAL)