HomeMy WebLinkAbout06-22-98CITY OF LAKEVILLE
HOUSING AND REDEVELOPMENT AUTHORITY MEETING
JUNE 22, 1998
Chair Holberg called the meeting to order at 8:55 a.m.
Roll call was taken. Present: Commissioners Ryan, Zaun, Sindt, Mulvihill,
Holberg.
Also present: R. Erickson, Executive Director; M. Sobota, Community &
Economic Development Director; D. Feller, Finance Director; C. Friedges,
City Clerk.
MINUTES
The minutes of the May 18, 1998, Housing and Redevelopment Authority
meeting were approved as presented.
ITEM 3
Mr. Erickson presented a resolution adopting a modification to Airlake
Redevelopment Project No. 1 and establishment of Tax Increment
Financing District No. 16 to be located within the redevelopment project.
Mr. Erickson provided a correction to Page 11 of the Redevelopment
Agreement between the City of Lakeville and Terrence J. North and Alcorn
Beverage Co., Inc. He also provided the Fee Owner Consent to
Redevelopment Agreement signed by Dave Fellon, President of
Progressive Rail, Inc. Mr. Erickson pointed out that the building square
footage should be 56,000 rather than 65,000 as stated in the June 18,
1998, memorandum from Dennis Feller and Michael Sobota. He also
pointed out that a letter of intent to issue a letter of credit has been
submitted by Mr. North. Mr. North indicated that a letter of credit should
be issued by the end of this week.
Mr. Erickson recommended the Housing and Redevelopment Authority
approve the establishment of Tax Increment Financing District No. 16 for
the Alcorn Beverage facility located at the southwest corner of Highview
Avenue and County Road 70. The proposed tax increment financing
project is a "pay -as- you -go" project. During the 11 -year district, nine years
of tax increment will be generated. Alcorn Beverage will receive
reimbursement for land write -down, public infrastructure and site grading
as increments are collected from the district. No debt will be issued for
this project. The project is consistent with the City's Comprehensive Plan,
and the Planning Commission and Economic Development Commission
recommend approval.
98.10 Motion was made by Ryan, seconded by Mulvihill to approve Resolution
No. 98 -6 adopting a modification to Airlake Redevelopment Project No. 1
and establishment of Tax Increment Financing District No. 16 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.
Roll call was taken on the motion. Ayes, Ryan, Zaun, Sindt, Mulvihill,
Holberg.
ITEM 4
98.11 Motion was made by Sindt, seconded by Mulvihill to approve Resolution
No. 98 -7 authorizing the City Council of the City of Lakeville to undertake
certain development activities in connection with Tax Increment Financing
District No. 16 within Airlake Redevelopment Project No. 1.
Roll call was taken on the motion. Ayes, Zaun, Sindt, Mulvihill, Holberg,
Ryan.
Chair Holberg adjourned the HRA meeting at 9:07 a.m.
Respectfully submitted,
rlene Fried'ges, Citi /Clerk