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AGENDA ITEM V -H <br />STAFF ORIGINATOR Brian Wessel <br />DATE <br />May 10, 1995 <br />TOPIC : Increment Financing Pla <br />The Economic Development Authorit <br />Financing Plan to establish Tax Incre <br />Business Park (see attached map). Thi <br />Nol-Tec Systems, Inc., and Mag -Con, <br />Apollo Business Park are also includ <br />the low Economic Adjustment Fac <br />city originally planned to TIF e <br />expected to rise significantly in <br />remaining properties in the dis <br />development occurs. The <br />accounting purposes, is M <br />22, 1995 City Council m <br />as <br />c, <br />in TIF <br />r (EAF) cur <br />h project as <br />996 because of i <br />ct will allow the city <br />adline for certifying t <br />31, 1995. The public hea <br />r TIF District 1-7 <br />thorized preparation of a Tax Increment <br />nt Financing District #1-7 in the Apollo <br />district is to provide public assistance to <br />remainder of the unsold parcels in the <br />trict #1-7 to allow the city to capture <br />ntly on the city -owned parcels. The <br />occurred. However, the EAF is <br />reased valuations. Including the <br />capture more increment when <br />district, for the county's <br />g is scheduled for the May <br />ting. <br />1. Find the plan f* , ` ax Increment Financing District #1-7 consiste <br />for development the City of Lino Lakes as a whole. <br />2. Return to s . ff for further consideration. <br />with the plans <br />Option 1 <br />