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HomeMy WebLinkAbout80-08RESOLUTION NO. 80 -8 RESOLUTION RELATING TO THE PROPOSED ACQUISITION OF REDEVELOPMENT PROJECT NO. 1 AREA AND DALE OF CERTAIN PROPERTY IN THE PROJECT AREA AND CALLING A PUBLIC HEARING THEREON BE IT RESOLVED by the Housing and Redevelopment Authority In and for the City of Lakeville, Minnesota (the Authority) as follows: Section 1. Recitals 1.01. The Authority has determined to undertake Re- development Project No. 1 in the City of Lakeville, Minnesota (the City) and has approved and adopted Redevelopment Project No. 1 and a Redevelopment Plan relating thereto (the Rede- velopment Plan) and a Tax Increment Financing Plan (the Financing Plan) for Tax Increment Financing District No. 1, which is the same area as Phase One (the Project) of Re- development Project No. 1 as set forth in the Redevelopment Plan. The Redevelopment Plan and Financing Plan are referred to herein collectively as "The Plans." 1.02. The Plans provide for the acquisition of the Project area by the Authority, the construction of certain public improvements thereon by the City in aid of the Project, and the sale of part of the Project area for private develop- ment. 1.03. The Plans and the proposed acquisition and sale of the Project area and the construction of public im- provements as proposed therein,.have been submitted to the City's Planning Commission, which will review and determine whether or not they are in accordance with the City's com- prehensive plan. 1.04. The Plans have been authorized to be submitted to the City, with the determination of the City's Planning Commission in accordance with Section 1.03 hereof, for approval and adoption by the Council after public hearings held in accordance with Minnesota Statutes, Sections 462.521 Subdivision 1 and 273.74 Subdivision 3. 1.05. In order to implement Redevelopment Project No. 1, including the Project, and the Plans, it will be necessary and in the best interests of the City for the Authority to acquire the Project area in accordance with the Plans and to enter into a contract for the sale of all of the property in the Project area not to be retained by the City ,-r for public use, prior to or at the same time of entering into a contract of purchase. 1.06. Despatch Industries, Inc., a Minnesota corporation (the Developer) has offered to purchase certain property in the Project area from the Authority and to construct thereon an ex- pansion to its existing industrial facility and related improvements. 1.07. There has been prepared and presented to the Authority the following contracts which it will be necessary for the Authority to into in order to carry out the acquisition and disposition of certain property in the Project area as described in the Plans: (a) relating to the purchase from the Authority and development of certain property in the Project area by the Developer, a Contract for the sale of Land for Private Redevelopment (b) relating to the establishment of a minimum market value of the Project area upon completion of the development by the Developer, an Assessment Agreement, and (c) relating to the issuance of bonds and completion of certain public improvements in the Project area by the City, a Cooperation Agreement._ ( (a), (b), (c) are collectively referred to herein as the Contracts). Section 2. Public Hearing 2.01. Minnesota Statutes, Section 462.525 Subdivision 2 requires that prior to the sale of property to the Developer, the Authority shall conduct a public hearing upon the proposal to sell such property. Pursuant to that provision, a public hearing on the proposal contained in the Contracts is called and shall be held on November 17, 1980, at 8:00 o'clock P.M., at the City Council Chambers, 7773 -214th Street W. 2.02. The Secretary shall cause notice of the public hearing to be published in a newspaper of general circulation in the City at least once, not less than ten (10) nor more than thirty (30) days prior to the date fixed for the hearing, such notice to be in substantially the following form: