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LINO LAKES PLANNING AND ZONING BOARD <br />RESOLUTION NO. 16-01 <br />RESOLUTION REGARDING THE MODIFICATION OF DEVELOPMENT DISTRICT <br />NO. 1 AND ESTABLISHMENT OF <br />TAX INCREMENT FINANCING DISTRICT NO. 1-12 <br />WHEREAS, the Lino Lakes Economic Development Authority (the "BDA") has authorized the <br />preparation of a modification to Development District No. 1 (the "District"), and a Plan for <br />establishment of Tax Increment Financing District No. 1-12 within the District (the "Plan"); and <br />WHEREAS, the Lino Lakes City Council (the "City Council) called for a public hearing to be <br />held at 6:30 p.m. on Monday, July 25, 2016; and <br />WHEREAS, the Program and the Plan have been submitted to the Planning and Zoning Board <br />for its comment pursuant to Minnesota Statutes, Sections 469.124 to 469.134; and <br />WHEREAS, the Planning and Zoning Board has reviewed the Program and the Plan and <br />compared it with the City's comprehensive plan and other plans for development for the City. <br />NOW, THEREFORE, BE IT RESOLVED by the Planning and Zoning Board of the City of <br />Lino Lakes, Minnesota as follows: <br />1. The modified Program for the District and the establishment of TIF District No. 1-12 is <br />found to be consistent with the plans for development of the City of Lino Lakes as a <br />whole. <br />2. It is recommended that the City Council and the EDA take the action necessary to adopt <br />the Program and the Plan. <br />Adopted by the Lino Lakes Planning and Zoning Board this 13t" day of July, 2016. <br />The motion for the adoption of the foregoing resolution was introduced by Board Member <br />and was duly seconded by Board Member and upon vote <br />being taken thereon, the following voted in favor thereof: <br />The following voted against same: <br />Chairperson <br />ATTEST: <br />Secretary <br />