Laserfiche WebLink
Member Carlson introduced the following resolution and moved its adoption: <br />LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY <br />RESOLUTION NO. 00-02 <br />RESOLUTION REQUESTING ANOKA COUNTY TO DECERTIFY TAX <br />INCREMENT FINANCING DISTRICT NO. 1-4 <br />WHEREAS, The City Council of the City of Lino Lakes (the "City") created its <br />Tax Increment Financing District No. 1-4 (the 'District"), County identifier Nos. L5 and <br />K4, within its Development District No. 1 (the "Project") on March 26, 1990; and <br />WHEREAS, administrative responsibility for the District was transferred in 1990 <br />from the City to the Lino Lakes Economic Development Authority (the "Authority"); and <br />WHEREAS, the Authority amended the plan for the District on June 12, 1995 to <br />modify the budget and again on March 25, 1996 to delete parcels from the District; and <br />WHEREAS, as of the date hereof all bonds to which tax increment from the <br />District had been pledged have been paid in full or defeased; and <br />WHEREAS, there exists other authorized costs of the Project which remain <br />unpaid; and <br />WHEREAS, the Tax Increment Financing Plan (the "Plan") adopted on March <br />26, 1990 for the District requires, pursuant to M.S. 469.176 Subd. 1, that the duration of <br />the District will be eight years after the date of receipt by the City of the first tax <br />increment or ten years from approval of the tax increment financing plan, whichever is <br />less; and <br />WHEREAS, the receipt of the first tax increment was July of 1996; and <br />