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RESOLUTION NO. 84 -
RESOLUTION RELATING TO THE PROPOSED
ACQUISITION OF REDEVELOPMENT PROJECT
NO. 1 AREA AND SALE 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 Airlake
Redevelopment Project No. 1 in the City of Lakeville, Minnesota
(the City) and has approved and adopted Airlake Redevelopment
Project No. 1 and Redevelopment Plan relating thereto (the
Redevelopment Plan) and a Tax Increment Financing Plan (the
Financing Plan) for Tax Increment Financing District No. 4,
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, and the sale of the Project area for
private development.
1.03. The Plans and the proposed acquisition and sale of
the Project area 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 comprehensive 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 adop-
tion 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.
1.06. Watkins Pattern Co. Inc., a Minnesota corporation
(the Developer) has offered to purchase the property in the
Project area from the Authority and to construct thereon an
office, warehouse and manufacturing facility.
1.07. There has been prepared and presented to the Authority
the following contracts which it will be necessary for the
Authority to enter into in order to carry out the acquisition
and disposition of property in the Project area as described in
the Plans: (a) relating to the purchase by the Authority and
Developer, a Contract for the sale of Land for Private Redevelop-
ment (b) relating to the establishment of a minimum market value
of the Project area upon completion of the development by the
Developer, and Assessment Agreement, and (c) 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 July 16 , 1984, at 8:30 o'clock
P.M., at the City Council Chambers, 7773 -214th Street W., Lakeville,
Minnesota.
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 one, 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 follwoing form:
Adopted by the Housing and Redevelopment Authority
for the City of Lakeville, Minnesota, held this 2
of July 1984./1
Chgi rp a$i of Lakev
Secretary o
ATTEST:
Executive Director
in and
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