HomeMy WebLinkAbout96-03Commissioner
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. 96 -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. S & B Limited, LLP (the "Company ") proposed to undertake a project (the
"S &B Project ") within part of the Fairfield Business Park being replatted as the Fairfield
Business Campus 3rd Addition, consisting of the acquisition of land from the City and
the construction and furnishing thereon of an office and warehouse facility.
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1.04. The Company has proposed that the Authority and City assist the S &B
Project by providing the land at a reduced cost, and undertaking certain site preparation
activities necessary to serve the Fairfield Business Park, including the S &B 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 S &B 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 S &B 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
S &B 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 19th day of August , 1996.
The motion for the adoption of the foregoing resolution was duly seconded by
Commissioner Holberg , and upon vote being taken thereon, the following
voted in favor thereof: Johnson. Zaun, Sindt, Mulvihill, Holberg , and
the following voted against the same: n/a ,
whereupon said resolution was declared duly passed and adopted.
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