Resolution No. 97-10 EDA - Laserfiche WebLink

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Member RPrgPson adoption: introduced the following resolution and moved its LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION NO. 97-10 RESOLUTION AUTHORIZING PREPARATION OF A MODIFIED PROGRAM FOR DEVELOPMENT DISTRICT NO. 1 AND TAX INCREMENT FINANCING PLANS FOR TAX INCREMENT FINANCING DISTRICTS NO. 1-1 AND NO. 1-2 WHEREAS, on January 26, 1987 the city council of the City of Lino Lakes (the "City") established Development District No. 1("Development District") and Tax Increment Financing District No. 1-1 ("TIF District No. 1-1") therein; WHEREAS, on December 27, 1988 the City established Tax Increment Financing District No. 1-2 ("TIF District No. 1-2") within the Development District; and WHEREAS, the City established the Development District and Tax Increment Financing Districts 1-1 and 1-2 in order to promote development within areas of the community which have not developed solely through private efforts in a manner which is consistent with their prominence; and WHEREAS, it has been proposed that the Development District Program and the TIF Plans be modified to assist improvements within the Development District pursuant to Minnesota Statutes, sections 469.174 through 469.179 (the "TIF Act") and sections 469.124 through 469.134 (the "City Development District Act"); and WHEREAS, the City has transferred authority for the Development District and TIF Districts No. 1-1 and 1-2 to the Lino Lakes Economic Development Authority (the "EDA");