Resolution No. 96-01 EDA - Laserfiche WebLink

Home Search

,.� Member Kuether introduced the following resolution and moved its adoption: LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION NO. 96 - 01 RESOLUTION AUTHORIZING PREPARATION OF A MODIFIED TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 1-4 WHEREAS, on April 26, 1990, the city council of the City of Lino Lakes (the "City") established Tax Increment Financing District No. 1-4 ("TIF District No. 1-4") and adopted a tax increment financing plan (the "TIF Plan") 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, in 1991 authority over TIF District No. 1-4 was transferred to the Lino Lakes Economic Development Authority (the "EDA"); and WHEREAS, the TIF Plan has been modified in the past, most recently on June 12, 1995; and WHEREAS, it has been proposed that the TIF Plan be modified again to delete certain parcels from TIF District No. 1-4, pursuant to Minnesota Statutes, section 469.174 through 469.179 (the "TIF Act"). NOW, THEREFORE, BE IT RESOLVED by the Lino Lakes Economic Development Authority as follows: 1. Staff and Kennedy & Graven, Chartered are hereby authorized and directed to prepare a modification to the TIF Plan for TIF District No. 1-4 for the above purpose. 2. The executive director of the EDA is authorized and directed to schedule a meeting on March 25, 1996 at 6 p.m. in the council chambers at city hall, at RHB100127 LN140-11