Resolution No. 01-03 EDA - Laserfiche WebLink

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Member Carlson introduced the following resolution and moved its adoption: LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY COUNTY OF ANOKA STATE OF MINNESOTA RESOLUTION NO. 01-03 RESOLUTION APPROVING THE ELIMINATION OF PARCELS FROM TAX INCREMENT FINANCING DISTRICT NO. 1-5 WITHIN DEVELOPMENT DISTRICT NO. 1 IN THE CITY OF LINO LAKES WHEREAS, on August 24, 1993, the Lino Lakes Economic Development Authority (the "EDA") created its Tax Increment Financing District No. 1-5 ("District No. 1-5") (Anoka County Number M6), within its Development District No. 1; and WHEREAS, District No. 1-5 was created as a Housing Tax Increment Financing District according to Minnesota Statutes, section 469.174, subd. 11; and ,•�, WHEREAS, the original net tax capacities of the properties within District No. 1-5 were certified by Anoka County on August 25, 1994; and WHEREAS, the EDA desires by this resolution to eliminate the parcels listed on Attachment A within District No. 1-5, thereby reducing the size of District No. 1-5; and WHEREAS, since the current net tax capacity of the parcels to be eliminated from District No. 1-5 equals or exceeds the original net tax capacity of those parcels, the EDA may eliminate the parcels by adopting this resolution and without holding a public hearing pursuant to Minnesota Statutes, section 469.175, subd. 4. NOW, THEREFORE, BE IT RESOLVED by the Lino Lakes Economic Development authority as follows: 1. The parcels listed in Attachment A are hereby eliminated from District No. 1-5. 2. Staff will take such action as is necessary to notify the Anoka County Auditor of the reduction in the geographic area of District No. 1-5. 3. Staff will return to Anoka County the increment associated with the parcels that have been removed. Dated: t i¢cd - /7 , 2001. RHB-206243v1 LN 140-25 1