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HomeMy WebLinkAbout89-055 r x~. F Motion was made by Councilman Harvey, Seconded by Councilmember Sindt CITY OF LAHEVII,LE COUNTY OF DAHOTA STATE OF MINNESOTA RESOLUTION NO. 89-55 A RESOLUTION APPROVING A REDEVELOPMENT PROJECT AND TAX INCREMENT FINANCING DISTRICT NO. 11 TO BE LOCATED WITHIN THE REDEVELOPMENT PROJECT AND APPROVAL AND ADOPTION OF A 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"), by resolution adopted on December 3, 1984, pursuant to the Municipal Housing and Redevelopment Act, established a Housing Development Project (the "Project") originally referred to as the Housing Development Plan for Meadows North; and WHEREAS, the Authority approved the dissolution of the existing Tax Increment Housing District (Lakeville Tax Increment District No. 5) and the Housing Development Project and replace them with an 'Economic Development Tax Increment District (Lakeville Tax Increment District No. 11) and a Redevelopment Project Area for the Meadows North Project; and WHEREAS, the Authority approved the establishment of a Redevelopment Project and Tax Increment Financing District No. 11 (the "District"), within the Project and has caused to be prepared a Tax Increment Financing Plan (the "Plan'), pursuant to 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 Tax Increment Plan No. 11 and Redevelopment Plan, Project and dissolution of Tax Increment Housing District No. 5 and Housing Development Project, 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 Plans 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 designation and establishment of the District and Project 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; 9 NOW, THEREFORE, BE IT RESOLVED. BY THE CITY COUNCIL 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 creation of the Redevelopment Plan, the establishment of Tax Increment District No. 11 and the dissolution of Tax Increment District No. 5 and Housing Development Project are in the public interest and to the benefit of the health, safety and welfare of the City; (b) that the District is an economic development district as defined in Minnesota Statutes, Section Section 469.174, Subd. 12. It has been determined that the project will .increase the tax base and create jobs. Thus, the tax increment financing district appears to meet the statutory requirements of an economic development district and will henceforth be referred to as a tax increment financing economic development district. The parcels that have been used to establish eligibility as an economic development tax increment financing district are listed in the Tax Increment Financing Plan. The establishment of the District will result in the construction of a housing project which required certain necessary land acquisitions and assembly and certain public improvements; (c) that the development proposed to be assisted on the Housing Authority site 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; (d) .that the Plan conforms to the general plan for the development of the City as a whole; (e) 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. The supporting information for the findings set forth above have been set forth in writing in the Plan. 2. The Plans which establish the District and 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, 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, 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. f Y 4 Ado ted this 17th da of A ril 1989. P Y P ~ M Attest: ~'-G~ City Clerk (SEAL) • •