HomeMy WebLinkAbout05-17-99CITY OF LAKEVILLE
HOUSING AND REDEVELOPMENT AUTHORITY MEETING
MAY 17, 1999
The meeting was called to order by Chair Sindt at 6:45 p.m.
Roll call was taken. Present: Commissioners Ryan, Zaun, Sindt, and Luick. Absent:
Commissioner Mulvihill. Also present: R. Erickson, Executive Director; R. Knutson,
City Attorney; D. Feller, Finance Director; C. Friedges, City Clerk.
MINUTES
The minutes of the January 19, 1999, HRA meeting were approved as presented.
ITEM 3
Mr. Erickson presented a resolution approving an amendment to the Interest Rate
Reduction Program and Housing Development Project Plan and to the Tax Increment
Financing Plan for Tax Increment Financing District No. 8. The proposed plan would
enable the City to issue up to $2 million of bonds for the acquisition and improvement
of seven parcels of property owned by All Saints Catholic Church for the
establishment of a Lakeville Area Arts Center. He explained that this action does not
bind the HRA to this project, but gives the HRA the right to sell the bonds if the
opportunity presents itself. He further explained that in light of pending legislation
regarding tax increment financing, this action would prevent legislative action from
precluding the use of excess increments for this use in the district.
99.3 Motion was made by Ryan, seconded by Luick to approve Resolution No. 99 -2
approving amendment to Interest Reduction Program and Housing Development
Project Plan and to Tax Increment Financing Plan for Tax Increment Financing District
No. 8.
Roll call was taken on the motion. Ayes, Ryan, Zaun, Sindt, Luick.
The meeting was adjourned at 6:50 p.m.
Respectfully subm
Charlene Fried yes, City 0 rk
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BeftVSinclg Chair