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CITY OF LINO LAKES, MINNESOTA RESOLUTION NO. 16-61 RESOLUTION CALLING A PUBLIC HEARING ON A TAX INCREMENT PLAN WITH RESPECT TO THE ESTABLISHMENT OF A TAX INCREMENT FINANCING DISTRICT IN THE CITY OF LINO LAKES WHEREAS, the City of Lino Lakes, Minnesota (the "City") and the Lino Lakes Economic Development Authority (the "Authority") have established, and the Authority administers, Development District No. 1 (the "Development District") located within the City and have caused to be created a Development Plan (the "Development Plan") therefor, pursuant to Minnesota Statutes, Sections 469.090 through 469.1082, as amended (the "EDA Act"); and WHEREAS, pursuant to Minnesota Statutes, Sections 469.174 through 469.1794, as amended (the "TIF Act"), the City and the Authority have proposed to create the Clearwater Creek Business Park Tax Increment Financing District No. 1-12 (the "TIF District"), within the Development District in order to facilitate economic development of certain property in the Development District; and WHEREAS, the proposed TIF District is an economic development district as defined in Section 469.174, subdivision 12 of the TIF Act; and WHEREAS, in order to create the TIF District, the City and the Authority have determined to consider a modification of the Development Plan for the Development District and the adoption of a tax increment financing plan (the "TIF Plan") for the proposed TIF District and to hold a public hearing regarding those actions in accordance with the EDA Act and the TIF Act; and WHEREAS, the City and the Authority have determined to consider an additional modification of the Development Plan for the Development District to expand the boundaries of the Development District to be coterminous with the City's boundaries. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lino Lakes, Minnesota that: 1. The Authority, and its staff and consultants, are hereby authorized and directed to cause to be prepared a modification to the Development Plan and a TIF Plan for the TIF District and to file a copy of such documents in City Hall. 2. The City Clerk is authorized and directed to prepare a notice for publication in the City's official newspaper setting a public hearing before the City Council on Monday, July 25, 2016, at 6:30 p.m. on the Development Plan and the l'IFF Plan. The notice shall be in substantially the form attached hereto as EXHIBIT A, shall be published in the newspaper at least ten (10) but not more than thirty (30) days prior to the public hearing, and shall include a map of the Development District and the proposed TIF District. 481689v2 JAE LN140-I 16