HomeMy WebLinkAbout87-142 CITY OF LAKEVILLE, MINNESOTA
• RE30LIITION N0. 87-142.
RESOLIITION APP$OYING A MODIFIED TAX INCREMENT
FINANCING PLAN FOR TAX INCREMENT FINANCING DISTKICT
NO. 3 LOCATED WITHIN REDEVELOPMENT PROJECT NO. 1
WHEREAS, The Housing and.Redevelopment Authority in and for the City of
Lakeville, Minnesota (the "Authority") by a Resolution adopted on May 4, 1987, and
the .City of Lakeville, Minnesota (the "City") by a :resolution adopted on May 4,
1987,. established .Tax Increment Financing District No. 3 (the "District") located
within the Redevelopment Project. No. 1 (the "Project"), and approved. a Tax
Increment Financing Plan fthe "Plan") relating thereto,' pursuant to Minnesota
Statutes, Section 273.71-78, inclusive, as amended; and
WHEREAS, the Authority has by Resolution on the date hereof .approved and
adopted. a .modified Plan, pursuant to Minnesota Statutes, Section 273.74, Subd. 1,
and has submitted the Plan to the City for consideration; and
WHEREAS, the City Council of the City (the "Council") on the date hereof
held a public hearing regarding adoption of the modified. Plan and. modification of
the District, 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 provided an opportunity for. the members of
the County -Board of Commissioners of Dakota County and the members of the
school boards of all school districts. in which any portion of the District is located
to meet with the Authority; and
WHEREAS, the Authority has presented to the members of the County
Board of Commissioners of Dakota County and the members of the school boards of
.all school districts in which any part of the District is located the Authority's
estimate of the fiscal and economic implications of the establishment of the
District and the members of the County Board and such school boards were granted
the opportunity to present their comments at the public hearing held on the date
hereof; and
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:
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(a) that the adoption of the Plan and the modification. of the
District' are in the public interest and to the benefit of .the health, safety
and welfare of the City.;
- (b) The modification of the District will result in the removal. of
certain parcels in the District as well as the deletion of a private
development project. relating to the new construction of housing;
(e) 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.
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 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
om behalf of the City, subject to such approval of this Council as is required by la.w,
to implement the Project and the Plan.
4. The Authority is authorized and directed to take all actions necessary
to implement and carry out the Project and the Plan.
• Adopted this 5th day of October , 198 .
Mayor
ATT STD
C erk-Administrator
(SEAL)
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