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Member introduced the following resolution and moved its adoption: <br />LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY <br />RESOLUTION NO. 9 6 - 0 2 <br />RESOLUTION AUTHORIZING PREPARATION OF A <br />MODIFIED TAX INCREMENT FINANCING PLAN FOR TAX <br />INCREMENT FINANCING DISTRICT NO. 1-7 <br />WHEREAS, on May 22, 1995 the city council of the City of Lino Lakes (the "City") and <br />the Lino Lakes Economic Development Authority (the "EDA") established Tax Increment <br />Financing District No. 1-7 ("TIF District No. 1-7") and adopted a tax increment financing plan <br />(the "TIF Plan") in order to promote development within areas of the community which have not <br />developed solely through private efforts in a manner which is consistent with their prominence; <br />and <br />WHEREAS, the TIF Plan was modified on October 23, 1995; and <br />WHEREAS, it has been proposed that the TIF Plan be modified again to assist two <br />industrial facilities and to add additional land to TIF District No. 1-7, pursuant to Minnesota <br />Statutes, section 469.174 through 469.179 (the "TIF Act"). <br />NOW, THEREFORE, BE IT RESOLVED by the Lino Lakes Economic Development <br />Authority as follows: <br />1. Staff and Kennedy & Graven, Chartered are hereby authorized and directed to <br />prepare a modification to the TIF Plan for TIF District No. 1-7 for the above <br />purposes. <br />2. The executive director of the EDA is authorized and directed to schedule a <br />meeting on March 25, 1996 at 6 p.m. in the council chambers at city hall, at <br />which time the EDA will consider adoption of the modified TIF Plan for TIF <br />District No. 1-7. <br />RHB100118 <br />LN140-41 <br />