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HomeMy WebLinkAbout05-04-87CITY OF LAKEVILLE HOUSING AND REDEVELOPMENT AUTHORITY MEETING MAY 4, 1987 The meeting was called to order at 6:40 p.m. by the Chairperson, Nancy Enright. Roll call was taken. Present: Commissioners Nelson, Zaun, Sindt, Harvey and Enright. Also present: Patrick McGarvey, Executive Director; Roger Knutson, City Attorney. 87.22 Motion was made by Nelson, seconded by Zaun to approve the minutes of the March 16th and April 20th Housing and Redevelop- ment Authority meetings. Roll call was taken on the motion. Ayes, Nelson, Zaun, Enright, Sindt, Harvey. At this time the Executive Director briefed the H.R.A. on the request of Arden International Kitchens for an economic develop- ment district tax increment financing plan and their responsibil- ity of the City requirement to make full repayment of the net amount of tax increment bonds invested by the City in the project. It was indicated that the company proposed that a discounted repayment be acceptable to the City if yearly payments were made rather a lump sum payment in the 15th year. The Executive Director advised the H.R.A. commissioners that the company officials and City would be meeting to further discuss the proposed T.I.F. project. 87.23 Motion was made by Sindt, seconded by Nelson to adopt Resolution No. 87 -6 requesting the City Council to set a public hearing on the Arden International Kitchens economic development district tax increment financing plan. Roll call was taken on the motion. Ayes, Zaun, Enright, Sindt, Harvey, Nelson. At this time the Executive Director presented the tax increment financing plan for T.I.F. District No. 3 contained within Redevelopment Project No. 1 which involves the D.K.M. Enterprises professional office building in downtown Lakeville and the Cottages of Lakeville project proposed by Arkell Construction. It was pointed out that the Arkell Construction part of the project may not proceed due to a disagreement over the terms of the City's tax increment investment in the project. The Executive Director pointed out that if Cottages of Lakeville does not proceed, the professional office building proposed by D.K.M. Enterprises could still move ahead and be approved. 87.24 Motion was made by Harvey, seconded by Sindt to adopt Resolution No. 87 -7 adopting a Tax Increment Financing Plan for Tax Incre- ment Financing District No. 3 contained within Redevelopment Project No. 1. Roll call was taken on the motion. Ayes, Enright, Sindt, Harvey, Nelson, Zaun. 87.25 Motion was made by Nelson, seconded by Sindt to adopt Resolution No. 87 -8 setting a public hearing on the sale of a six acre parcel to Arkell Construction for the Cottages of Lakeville project if an agreement is reached with the developer on the project, and on the sale of Parcel A to D.K.M. Enterprises for the professional office building in downtown Lakeville for the May 18, 1987, H.R.A. meeting. Roll call was taken on the motion. Ayes, Sindt, Harvey, Nelson, Zaun, Enright. 87.26 Motion was made by Harvey, seconded by Nelson to receive a letter from John Bossardt of Bossardt Christenson Corporation requesting tax increment financing for Consumers Professional Office Building proposed to be built on the south side of 175th Street to the east of the SuperAmerica station. Roll call was taken on the motion. Ayes, Harvey, Nelson, Zaun, Sindt, Enright. The commissioners directed the Executive Director to send a letter to the developer outlining the requirements necessary before a tax increment financing project will be considered or approved. 87.27 Motion was made by Harvey, seconded by Sindt to adjourn the H.R.A. meeting. Roll call was taken on the motion. Ayes, Nelson, Zaun, Sindt, Enright, Harvey. Time: 6:58 p.m. Respectfully submitted, atrick E. M Garvey, xecutive ire�`� 2