82-05HOUSING AND REDEVELOPMENT AUTHORITY
OF
CHANHASSEN, MINNESOTA -
RESOLUTION APPROVING PARTICIPATION OF
FLUOROWARE, INC. IN ASSESSMENT
REDUCTION PROGRAM
Dated: May 20, 1982
Motion By Commissionerwhi~ehill
Resolution No. 82-5
Seconded by Commissioner Horn
WHEREAS, Fluoroware, Inc. (Fluoroware), the owner
and developer of Lots 8 and 9, Block 5, Chanhassen Lakes
Business Park, Carver County, Minnesota (the "Subject Property")
appeared before the Authority on March 20, 1980, and June 5,
1980, and requested that the Authority assist Fluoroware in its
development of the Subject Property by utilizing a portion of
tax increments received by the Authority pursuant to Section 462.585
of Minnesota Statutes to pay a portion of the costs of City of
Chanhassen Project 78-3 which was assessed against benefited
properties including the Subject Property; and
WHEREAS, the Authority on June 5, 1980 approved such
assistance to Fluoroware in the form of a purchase of the
Subject Property and a subsequent resale of the Subject Property
at a reduced price; and
WHEREAS, the above-described action of June 5, 1980,
was contingent upon the Authority's bond counsel issuing an
approving opinion for such assistance to Fluoroware; and
WHEREAS, Fluoroware, relying on the Authority's action
of June 5, 1980, proceeded to complete its development of the
Subject Property; and
WHEREAS, the Authority by its Resolution No. 82-.3
dated March 18, , 19' 82 , adopted Modification No. 5
to the Chanhassen Downtown Redevelopment Project, thereby.
instituting a comprehensive program for the reduction of
certain assessments on certain lands in Chanhassen Lakes
Business Park including the Subject Property; and
WHEREAS, the assessment reduction program described
in said Modification No. 5 is similar in substance to the form
of assistance to Fluoroware which was contemplated by the
Authority in its action of June 5, 1980;
NOW, THEREFORE, BE IT RESOLVED, by the
Chanhassen Housing and Redevelopment Authority, as follows:
1. The participation of Fluoroware in the assessment
reduction program established in Modification No. 5 to the
Plan is hereby approved retroactively provided that Fluoroware
execute an assessment agreement with the Authority in the
form attached hereto and made a part hereof as Exhibit A;
including the first Addendum, and Second Addendum to said
assessment agreement.
2. The amount of the Fluoroware assessment reduction
payment under said assessment agreement is hereby determined
to be $80,612.00.
3. The assessment reduction payment under said
assessment agreement shall commence in 1983 with the payable
1983 taxes; provided, however, that the Executive Director
and Chairman of the Authority are hereby authorized and directed
to pay the $2,818.44 in penalties which the Carver County
Auditor has imposed upon the subject redevelopment property in
connection with the payable 1981 taxes.
4. The Chairman and Executive Director of the Authority
are hereby authorized and directed to execute said contract
and addenda on behalf of the Authority.
Passed and adopted this 20th day of May, 1982,
by the Housing and Redevelopment Authority of the City of
Chanhassen, Minnesota.
Chairman
Executive DirecTor
Yes No Absent
Horn None Gullickson
Whitehill Russell
Bohn
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