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HomeMy WebLinkAbout85-103 f IT CITY OF LAKEVILLE • RESOLUTION Date October 7, 1985 Resolution No. 85-103 Motion By Harvey Seconded By Enright RESOLUTION APPROVING I-35 REDEVELOPMENT PROJECT NO. 2 AND THE PROPOSED REDEVELOPMENT PLAN AND TAX INCREMENT FINANCING PLAN THEREFOR; AUTHORIZING THE HOUSING AND REDEVELOPMENT AUTHORITY TO PROCEED WITH THE PROJECT BE IT RESOLVED by the City Council of the City of Lakeville, Minnesota, as follows: Section 1. Recitals. 1.01 This Council has received from the City Housing and Redevelopment Authority (the "Authority"), a resolution of Authority determining to undertake and complete a redevelopment project in • the City designated as the I-35 Redevelopment Project No. 2 (the "Project"), a proposed redevelopment plan and tax increment financing plan for the Project, and a written opinion of the Planning Commission relating thereto. 1.02 This Council, by its Resolution No. 85-76A adopted September 16 1985 called a public hearing on the Project and the proposed redevelopment plan and tax increment financing plan for October 7 198 5 Notice of the hearing was published in the official newspaper as required by law; and said hearing was held on October 7 1985.. and all persons appearing thereat were permitted to present their views on the Project and the plan. 1.03 Prior to the commencement of the hearing this Council received the written opinion of the Planning Commission stating that the Project and the proposed redevelopment plan are consistent with the City's comprehensive plans. 1.04 The Authority has provided an opportunity 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 portion of the proposed district is located to meet with the Authority. The Authority has presented to the members of the County Board of Commissioners and the school board its estimate of the fiscal and economic implication of the proposed tax increment financing district. The members of the County Board of Commissioners and the school • board were granted the opportunity to present their comments at the public hearing held on October 7 _ ~ 198_x_ • Section 2. Approval of Project and Plans. 2.01 The Council has reviewed and considered the Project and the proposed redevelopment plan, the written opinion of the Planning Commission, the facts and views presented at the public hearing and other Council meetings concerning the Project, and facts and circumstances concerning the City and the Project area and their development. 2.02 On the basis of such review and consideration the Council hereby determines: (a) That the proposed tax increment financing district is an economic development district. (b) That the proposed development or redevelopment, in the opinion of the City, would not reasonably be expected to occur solely through private investment within the reasonably forseeable future and therefore the use of tax increment financing is deemed necessary. The land in .the project area would not be developed, or be available for redevelopment unless the proposed redevelopment plan and tax increment financing is undertaken. (c) That the tax increment financing plan conforms to the general plan for the development or redevelopment of the munici- pality as a whole. • (d) That the tax increment financing plan will. afford maximum opportunity, consistent with the sound needs of the City as a whole, for the development or redevelopment of the project by private enterprise. (e) The reasons and supporting facts for the above determin- ations are set forth in the tax increment financing plan, which information is incorporated herein by reference. 2.03 The Council hereby determines that the approval and undertaking of the Project and the actions described in the proposed redevelopment plan by the City, are necessary to and will result in the accomplishment of the public purposes specified in Minnesota Statutes, Section 462.415 and 474.01, in the City. 2.04 The Council hereby determines that the economic and other benefits described in the attached document will, or are likely to, accrue to the City and its inhabitants as a result of the approval and undertaking of the Project and the actions described in the proposed redevelopment plan by the City. Section 3. Project and Plan; Approval and Implementation. 3.01 The Project and the proposed redevelopment plan and • tax increment financing plan thereof (Redevelopment Plan .and tax increment financing plan for I-35 Redevelopment Project No. 2 hereinafter the "Plan") are hereby .approved. -2- _ ' , 3.02 The City Administrator is authorized and directed to take all actions on behalf of the City, subject to such approval of this Council and may be required by law, to implement and carry out the Project and Plan. 3.03 The Housing and Redevelopment Authority is authorized and directed to take all actions necessary to implement and carry out the Project and Plan, subject only to such approval of this Council as may be required by law. Adopted by the City Council this 7th day of October 198 ~ CITY OF LAKEVILLE BY : D ane R. Zaun ayor AT EST. r Patrick E. McGarv y, City rk • -3-