HomeMy WebLinkAbout12-03-90CITY OF LAKEVILLE
HOUSING AND REDEVELOPMENT AUTHORITY MEETING
DECEMBER 3, 1990
The meeting was called to order at 6:45 p.m. by Chair Sindt.
Roll call was taken. Present: Commissioners Ruhmann, Zaun,
Harvey and Sindt. Absent: Commissioner Mulvihill.
Also present: B. Erickson, Executive Director; M. Sobota,
Community & Economic Development Director; C. Friedges, City
Clerk.
The minutes of the September 17, 1990, H.R.A. meeting were
approved as printed.
Mr. Sobota presented the proposed Tax Increment Financing
(TIF) project for a professional building in the downtown
area, known as the Miller /Hartwig Downtown Redevelopment
Project. The request is for an amendment to Tax Increment
Financing Plan No. 8 to utilize the excess increment from the
Southfork I Housing Development to provide funding for this
downtown redevelopment project. Also, some excess increment
would be used to cover the debt service on the Meadows North
bonds. The proposed project does not create a new tax
increment district.
Mr. Sobota recommended the City provide $90,000 of tax
increment financing assistance to the downtown project,
contingent upon construction of a minimum 3,500 square foot
professional office building. He explained that the project
would require a rezoning of the property from B -4 to CBD -C.
In closing, Mr. Sobota explained that staff feels the
proposed project will promote additional redevelopment in the
downtown area and is expected to generate approximately
$14,000 in new taxes when completed. The Economic
Development Commission recommended approval of the TIF plan
modifications and project at its November 27th meeting. The
H.R.A. will consider adoption of the TIF plan on January 7,
1991.
Commissioner Harvey asked that consideration be given to the
downtown office space that is currently vacant.
Commissioner Zaun suggested the proposed project be presented
to the Downtown Business Association for their input.
90.28 Motion was made by Harvey, seconded by Zaun to approve
Resolution No. 90 -05 requesting the City Council of the City
of Lakeville to call for a public hearing on the proposed
Modification No. 2 of the Southfork I Housing Development
Project Plan, Interest Rate Reduction Program and Housing Tax
' HOUSING AND REDEVELOPMENT AUTHORITY MEETING
DECEMBER 3, 1990
PAGE 2
Increment District No. 8, and adopt the modified plans and
programs relating thereto.
Roll call was taken on the motion. Ayes, Ruhmann, Zaun,
Sindt, Harvey.
There being no further business, Chair Sindt adjourned the
meeting at 6:53 p.m.
Respectfully submitted,
Charlene Friedges, ity Clerk
- Sett Sindt, Chair