07/13/2016 P&Z Packet - Laserfiche WebLink

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STAFF ORIGINATOR: P & Z MEETING DATE: REQUEST: APPLICANT: BACKGROUND PLANNING & ZONING BOARD AGENDA ITEM 5C Michael Grochala July 13, 2016 Consider Resolution No. 16-01, Regarding the Modification of Development District No. 1 and the Establishment of Tax Increment Financing District 1-12 City of Lino Lakes United Properties is proposing to develop the Clearwater Creek Business Park. The 40-acre area west of Interstate 35E is zoned Light Industrial and is designated for industrial use in the Comprehensive Plan. In conjunction with the plat, the developer is proposing the construction of a 402,000 square foot distribution facility on approximately 30 acres of the park. To assist with the development of the site the Lino Lakes Economic Development Authority has prepared a proposed modification of Development District No. 1 and a plan for the establishment of Tax Increment Financing District No. 1-12. The City Council has scheduled a public hearing for July 25, 2016. The plan has been sent to Anoka County and Centennial School District for review. In accordance with statute, the City's Planning & Zoning Board, acting as the Planning Agency of the City, shall make a finding that the establishment of a new TIF District is consistent with the city's Comprehensive Plan. ANALYSIS The City's Comprehensive Plan guides this area for Industrial Use. Chapter 5 of the Plan includes the following goals and policies: • Attract and encourage new light industrial, high tech, business and professional services enterprises and maintain and expand existing businesses in Lino Lakes. • Promote efficient, planned commercial and industrial expansion within the City's growth areas, accessible to public infrastructure and transportation. • Consider the use of available financial incentives (i.e. TIF/tax abatements/grants, etc.) to attract businesses to relocate or start up in Lino Lakes. Chapter 5 of the plan further describes Tax Increment Financing as a tool for accomplishing the City's Economic Development Goals.