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CITY OF LINO LAKES, MINNESOTA RESOLUTION NO. 16-75 RESOLUTION APPROVING TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING (ECONOMIC DEVELOPMENT) DISTRICT NO. 1-12 AND A MODIFIED DEVELOPMENT PLAN FOR DEVELOPMENT DISTRICT NO.1 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, within the Development District the City and the Authority have created certain tax increment financing districts pursuant to Minnesota Statutes, Sections 469.174 through 469.1794, as amended (the "TIF Act"); and WHEREAS, the City and the Authority have determined to modify the Development Plan for the Development District and approve a tax increment financing plan (the "TIF Plan") relating to the creation of a new tax increment financing district within the Development District designated as the Tax Increment Financing (Economic Development) District No. 1-12 (the "TIF District"), all as described in a plan document presented to the City Council of the City (the "City Council") on the date hereof; and WHEREAS, the City and the Authority have determined to consider an additional modification of the Development Plan to expand the boundaries of the Development District to be coterminous with the City' s boundaries; and WHEREAS, the TIF Plan was, in accordance with the III- Act, referred to the Lino Lakes Planning and Zoning Board (the "Planning and Zoning Board") and by resolution adopted by the Board of Commissioners of the Planning and Zoning Board on July 13, 2016, the Planning and Zoning Board found that the TIF Plan conforms to the general plan for the development of the City as a whole; and WHEREAS, pursuant to Section 469.175, subdivision 2 of the TIF Act, the proposed TIF Plan and the estimates of the fiscal and economic implications of the TIF Plan were presented to the School Board of Independent School District No. 12 and to the County Board of Commissioners of Anoka County, Minnesota; and WHEREAS, on the date hereof, the City Council conducted a public hearing relating to the modified Development Plan, the TIF Plan, and the establishment of the 111• District, at the views of all interested parties were heard at the public hearing; and WHEREAS, the City Council has reviewed the contents of the modified Development Plan and the 1'11• Plan; and NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lino Lakes, Minnesota that: Section 1. Findings; Development District. The City Council approves the modified Development Plan, including the expansion of the boundaries of the Development District to be coterminous with the boundaries of the City, and specifically finds that: (a) the land within the Development 1 483318v1 JAE LN140-116