HomeMy WebLinkAbout94-01HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF LAKEVILLE
DAKOTA COUNTY, MINNESOTA
RESOLUTION
Date March 7, 1994 Resolution 94 -1
Motion By
Johnson
Seconded By
Zaun
RESOLUTION CONCERNING REDEVELOPNENT
OF PROPERTY LOCATED AT 207TH STREET
AND HOLT AVENUE FOR PARKING PURPOSES
WHEREAS, the Housing and Redevelopment Authority of this
City ("HRA") was created pursuant to Minnesota Statutes, Sections
469.001 -.047 (previously Minnesota Statutes Chapter 462) (the
"Act ") and is authorized to transact business and exercise its
powers by a resolution of the City Council of the HRA pursuant to
Section 469.003 (formerly Section 462.425) of the Act; and
WHEREAS, in furtherance of the objectives of the Act, the
HRA has undertaken a program for the clearance and reconstruction
or rehabilitation of blighted, deteriorated, deteriorating,
vacant, unused, under used or inappropriately used, areas of the
City, and in this connection is engaged in carrying out a
redevelopment project known as the Redevelopment Project No. 1
(hereinafter referred to as the "Project ") in an area
(hereinafter referred to as the "Project Area ") located in the
City and
WHEREAS, as of the date of this Agreement there has been
prepared and approved by the HRA and the City Council of the City
a redevelopment plan for the Project (which Plan is hereinafter
referred to as the "Redevelopment Plan "); and
WHEREAS, in order to finance, in part, the public
redevelopment costs of the Project the HRA and City have created
Tax Increment District No. 3 (the "Tax Increment District "); and
WHEREAS, there has been presented by Holyoke Crossing
Limited Liability Company ( "Redeveloper ") to the HRA and the City
for their consideration a proposal for the redevelopment of a
parcel of land located at the northwest corner of the
intersection of 207th Street and Holt Avenue whereupon a
deteriorating dwelling is situated which is located within the
Project Area ( "Redevelopment Parcel "); and
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WHEREAS, the dwelling along with all improvements located
upon the Redevelopment Parcel are to be removed and the
Redevelopment Parcel shall thereafter be improved with a parking
lot and landscaping pursuant to the plans and specifications
described herein. The parking lot will be used by the general
public pursuant to the easements described herein; and
WHEREAS, the City and the HRA have reviewed the
redevelopment proposal with respect to the Redevelopment Parcel
and have determined that such proposal if completed would serve
to accomplish the goals and objectives for which the Project and
the Tax Increment District were created specifically:
1. Provide commercial facilities to improve the economy of
the City and County;
2. Provide opportunities for development of new
businesses;
3. Acquire land or space which is under used or
inappropriately used;
4. Remove or improve blighted structures and acquire
property for reuse by private enterprise;
5. Eliminate blight influences which impede potential
development;
6. Coordinate elements of the City's Comprehensive Plan
with the objectives of the Project Area; and
7. Provide
of the
WHEREAS, the
commercial retail
the Redevelopment
viability; and
maximum opportunity, consistent with the needs
2ity, for development by private enterprise.
Redeveloper currently owns and operates a
shopping center in the Project Area adjacent to
Parcel and desires to expand the economic
WHEREAS, in order to achieve the objectives of the
Redevelopment Plan, the HRA has determined to provide substantial
aid and assistance to the Project Area through a $35,000.00 loan
to Redeveloper ( "Loan ") to acquire the Redevelopment Parcel, such
aid to be evidenced by a Promissory Note and Mortgage of even
date herewith, the obligation to repay the Loan is conditioned
upon the completion of the covenants set forth in the
Redevelopment Agreement ( "Redevelopment Agreement "; and
WHEREAS, the City and Authority believe that the
redevelopment of the Redevelopment Parcel within the Project Area
pursuant to this Agreement, and fulfillment generally of this
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N,
Agreement, are in the vital and best interests of the City and
the health, safety, morals, and welfare of its residents, and in
accord with the public purposes and provisions of the applicable
State and local laws and requirements under which the Project has
been undertaken and is being assisted.
NOW, THEREFORE, BE IT RESOLVED by the Housing and
Redevelopment Authority in and for the City of Lakeville ("HRA"):
1. That the Chair and Executive Director are hereby
authorized to execute the Redevelopment Agreement
between the City, the HRA and Holyoke Crossing Limited
Liability Company and all other documents necessary to
effectuate the terms of the Redevelopment Agreement.
ADOPTED this 7th day of March , 1994, by the
Housing and Redevelopment Authority in and for the City of
Lakeville.
HOUSING AND REDEVELOPMENT
AUTHORITY IN AND FOR THE
CITY OF LAKEVILLE
By:
By:
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Executive Director