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HomeMy WebLinkAbout02-17-98CITY OF LAKEVILLE HOUSING AND REDEVELOPMENT AUTHORITY MEETING FEBRUARY 17, 1998 The meeting was called to order by Chair Holberg at 6:45 p.m. Roll call was taken. Present: Commissioners Ryan, Zaun, Sindt, Mulvihill and Holberg. Also present: R. Erickson, Executive Director; R. Knutson, City Attorney; M. Sobota, Community & Economic Development Director; D. Feller, Finance Director; C. Friedges, City Clerk. MINUTES The minutes of the January 20, 1998, HRA meeting were approved as presented. ITEM 3 Mr. Erickson presented a Stipulation for Partial Dismissal, Order and Judgment relating to the joint condemnation by Dakota County and the Lakeville HRA of the Lorentson parcels located in the southwest quadrant of 1 -35 and County Road 46. In the Stipulation, the HRA agrees to dismiss its condemnation claim and reimburse Richard and Dorothy Lorentson and Vernon and Joretta Lorentson for reasonable costs, expenses and attorneys fees. Richard and Dorothy Lorentson would, in turn, execute and convey an easement to the City for that portion of Parcel 2A required for a new city street known as Kent Trail. The Lorentsons agree that Parcels 2A and 213 will be consolidated into one tax parcel by November 1, 1998; and Parcels 3A and 38 will likewise be consolidated by November 1, 1998. They further agree that the consolidated parcels will be consolidated into one ownership and one tax parcel before any development plans are submitted for review by the City of Lakeville. Commissioner Zaun asked if it was necessary for the City's advisory committees and commissions to review and provide input on this proposed settlement. Mr. Erickson stated the right -of -way map was previously reviewed by the Planning Commission as part of the comprehensive plan amendment. Commissioner Holberg asked if the combined parcels will have full access onto Kenyon Avenue. Mr. Erickson stated access will be on Kenyon Avenue at the extreme south end of the parcel. 98.5 Motion was made by Mulvihill, seconded by Sindt to approve a Stipulation for Partial Dismissal, Order and Judgment relating to the Lorentson parcels located in the southwest quadrant of 1 -35 and County Road 46. HOUSING AND REDEVELOPMENT AUTHORITI FEBRUARY 17,19 98 PAGE Roll call was taken on the motion. Ayes, Ryan, Zaun, Sindt, Mulvihill, Holberg. ITEM Mr. Erickson presented a resolution which would authorize the City of Lakeville to undertake certain redevelopment activities in Tax Increment Financing District No. 3 to facilitate a project to be undertaken by Aurora Investments LLC. Assistance would be provided by the issuance of a tax increment revenue note by the City to Lakeville Five, Inc., the seller of the land, which note will be paid from tax increments to be received by the HRA from the TIF District for the Wensmann /Heritage Square housing project and the two future commercial parcels east of Iberia Avenue. The City Council then could proceed with approval of the redevelopment project under Item 9 on the February 17th City Council meeting agenda. Commissioner Zaun asked if there have been any changes to the overall plan since approved by the Economic Development Commission. Mr. Erickson stated the only change is in the reduced availability of tax increment financing funds for the land write -down due to the allocation of funds for the 202nd Street infrastructure improvements. 98.6 Motion was made by Zaun, seconded by Sindt to approve Resolution No. 98 -2 approving amendment to Tax Increment Financing Plan for Tax Increment Financing District No. 3; authorizing the City of Lakeville to undertake certain redevelopment activities related thereto on behalf of the Housing and Redevelopment Authority of the City of Lakeville and approving the execution of certain documents by the City; and approving a related Tax Increment Pledge Agreement. Roll call was taken on the motion. Ayes, Zaun, Sindt, Mulvihill, Holberg, Ryan. There being no further business, Chair Holberg adjourned the meeting at 6:55 p.m. Respectfully submitted, Du ne Zaun, Sec ry aojiz H Iberg, Cha'