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HomeMy WebLinkAbout98-03W '. Commissioner moved its adoption. Sindt introduced the following resolution and HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF LAKEVILLE COUNTY OF DAKOTA COUNTY STATE OF MINNESOTA RESOLUTION NO. 98 -3 RESOLUTION AUTHORIZING THE CITY COUNCIL OF THE CITY OF LAKEVILLE TO UNDERTAKE CERTAIN DEVELOPMENT ACTIVITIES IN CONNECTION WITH TAX INCREMENT FINANCING DISTRICT NO. 10 WITHIN I -35 REDEVELOPMENT PROJECT NO. 1 BE IT RESOLVED by the Housing and Redevelopment Authority (the "Authority ") in and for the City of Lakeville, Minnesota (the "City ") as follows: Section 1. Recitals 1.01. The Authority and the City have heretofore approved the establishment of the I -35 Redevelopment Project No. 1 within the City (the "Project ") and the establishment of the Tax Increment Financing District No. 10 (the "District ") within the Project, and have approved a Redevelopment Plan, as modified, for the Project (the "Redevelopment Plan ") and a Tax Increment Financing Plan for the District (the "Tax Increment Financing Plan ") . 1.02. The Redevelopment Plan and Tax Increment Financing Plan contemplate that the Authority and City would assist development within the District (commonly known as Fairfield Business Park) by defraying all or a portion of the public redevelopment costs identified in the Redevelopment Plan and Tax Increment Financing Plan. 1.03. Hearth Technologies Inc. (the "Company ") proposed to undertake a project (the "Hearth Project ") within part of the Fairfield Business Park legally described as Lot 1, Block 1, Fairfield Business Campus, consisting of the acquisition of land from the City and the construction and furnishing thereon of a corporate headquarters and research /development facility. 60290.o1 LKVLHEARTH TECHNOLOGIESMEAT -N -GLO TIF 03/09/98 ILot 1, Block 1, Fairfield Business Campus) M 1.04. The Company has proposed that the Authority and City assist the Hearth Project by providing the land at a reduced cost, and undertaking certain site preparation activities necessary to serve the Fairfield Business Park, including the Hearth Project site. 1.05. Pursuant to Minnesota Statutes, Sections 469.001 through 469.047, and Sections 469.174 through 469.179 (the "Acts "), the Authority has the primary responsibility for administering the Project and the District, and for undertaking the activities necessary to carry out the Redevelopment Plan and Tax Increment Financing Plan. In the instant case, since the City owns the Fairfield Business Park property, it is determined to be necessary and desirable for the Authority to authorize the City to undertake, on behalf of the Authority, the public redevelopment activities required in connection with the Hearth Project. Section 2. Authorization to City 2.01. The Authority, pursuant to the provisions of the Acts and particularly Section 469.041, Minnesota Statutes, hereby authorizes the City, on behalf of the Authority, to undertake all public redevelopment activities in connection with the redevelopment of the Fairfield Business Park which the Authority could itself undertake pursuant to the Acts, the Redevelopment Plan and the Tax Increment Financing Plan, including, without limitation, the entering into contracts for the site preparation work necessary or desirable in connection with the Hearth Project and the entering into a Contract for Private Redevelopment or similar agreement with the Company setting forth the terms and conditions upon which the Authority and City will provide assistance to the Hearth Project. 2.02. A copy of this resolution shall be forwarded to the Council and be placed on file in the office of the City Clerk. ADOPTED this 16th day of March , 1998. The motion for the adoption of the foregoing resolution was duly seconded by Commissioner Mulvihill , and upon vote being taken thereon, the following voted in favor thereof: Zaun, Sindt, Mulvihill, Holberg , and the following voted against the same: n/a whereupon said resolution was declared duly passed and adopted. 60290.0, LKVL:HEARTH TECHNOLOGIES/HEAT -N -GLO TIF 03109/98 2 (Lot 1, Block 1, Fairfield Business Campus)