HomeMy WebLinkAbout95-01Commissioner Mulvihill
moved its adoption:
introduced the following resolution and
HOUSING AND REDEVELOPMENT AUTHORITY
IN AND FOR THE CITY OF LAKEVILLE
DAKOTA COUNTY, STATE OF MINNESOTA
RESOLUTION NO. 95 -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 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. New Morning Windows, Inc. (the "Company ") proposes to undertake
a project (the "New Morning Project ") within the Fairfield Business Park consisting of
the acquisition of land from the City and the construction and furnishing thereon of an
office - production facility to be used in the Company's business of manufacturing
windows.
1.04. The Company has proposed that the Authority and City assist the
New Morning Project by providing the land at a reduced cost, undertaking certain site
preparation activities, and undertaking various public improvements (streets, sanitary
sewer, storm sewer, and watermain improvements) necessary to serve the Fairfield
Business Park, including the New Morning Windows Project site. The costs of the
foregoing activities would be financed, in whole or in part, by the issuance of tax
increment bonds and /or improvement bonds by the City, or, if certain of the foregoing
improvements are undertaken by the Company, by the reimbursement to the Company
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of the costs incurred by the Company through a tax increment contract, or combination
of the foregoing.
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 and
much of the work to be undertaken involves the extension of the City street and utility
systems, 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 New Morning 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 and street
and public utility work necessary or desirable in connection with the New Morning
Project and the entering into a Contract for Private Development or similar agreement
with the Company setting forth the terms and conditions upon which the Authority and
City will provide assistance to the New Morning 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 21st day of February , 1995.
The motion for the adoption of the foregoing resolution was duly seconded by
Commissioner Johnson , and upon vote being taken thereon, the following
voted in favor thereof:
Johnson
Zaun
Sindt
Mulvihill
Harvey
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