HomeMy WebLinkAbout91-03a
THE HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF LAKEVILLE
COUNTY OF DAKOTA
STATE OF MINNESOTA
RESOLUTION NO. 91 -03
BEING A RESOLUTION ADOPTING MODIFICATION
NO. 2 TO I - 35 REDEVELOPMENT PROJECT NO. 2,
AND TAX INCREMENT FINANCING DISTRICT NO. 6
(FLEET FARM) 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.
WHEREAS, The Housing and Redevelopment Authority in and for the City of
Lakeville, Minnesota (the "Authority ") and the City of Lakeville, Minnesota (the
"City "), established the I -35 Redevelopment Project No. 2 (the "Project ") in
October of 1985, pursuant to Minnesota Statutes, Section 469.001 to 469.047,
inclusive, as amended.
WHEREAS, the Authority proposes to modify the I - 35 Redevelopment
Project No. 2 boundary and modify Tax Increment District No. 6 (Fleet Farm),
pursuant to and in accordance with Minnesota Statutes, Sections 469.001 to 469.047
and Sections 469.174 to 469.179, inclusive, as amended.
WHEREAS, the Authority has submitted the Plans to the County Board of
Commissioners for Dakota County and the school board of the school districts in
which this District is located and has notified such County Board and such school
boards that the modification of the District and modification of the Project will be
considered at this meeting;
NOW, THEREFORE, BE IT RESOLVED by The Housing and Redevelopment
Authority in and for the City of Lakeville, Minnesota, as follows:
1. The Authority hereby finds and determines:
(a) that the modification of the Project and District and the
adoption of the modified Plans are in the public interest and to the benefit
of the health, safety and welfare of the City;
(b) that the District continues to be an economic development
district as defined in Minnesota Statutes, Section Section 469.174, Subd. 12.
It has been determined that the district will create jobs and tax base. Thus,
the tax increment financing district meets the 1985 statutory requirements
of an economic development district.
W that the Plan modifications conform to the general plan for
the development of the City as a whole;
(d) that the Plan modifications will afford maximum opportunity,
consistent with the sound needs of the City as a whole for the development
of the Project by private enterprise.
The reasons and supporting facts for each of the findings set forth above
have been set forth in writing in the 1985 Original Plan.
2. The Plans which modify the District and Project are hereby approved
and adopted by the Authority in substantially the form on file with the City on this
date. The Executive Director is hereby authorized and directed to submit the
documents to the City Council together with a request that the City Council
approve such Plan following a public hearing to be held pursuant to Minnesota
Statutes, Section 469.175, Subd. 3.
3. The Executive Director is hereby authorized and directed to file a
copy of the modified Tax Increment Plan with the Minnesota Department of
Revenue, together with a copy of the modified Plan for the Project.
4. Following approval of the Plans by the City, the Executive Director,
together with the Authority's financial advisor, legal counsel and bond counsel, is
authorized and directed to proceed with the implementation of the Plans, and for
this purpose to negotiate, draft, prepare and present to this Board for its
consideration all resolutions, documents and contracts necessary for this purpose.
Dated: March 18 , 1991.
r Chairman
At' t
Executive Director
(SEAL)