Resolution No. 96-03 EDA - Laserfiche WebLink

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Member Neal introduced the following resolution and moved its adoption: LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION NO. 96-03 RESOLUTION ESTABLISHING PUBLIC HEARING FOR THE SALE OF PROPERTY WHEREAS, the Lino Lakes Economic Development Authority (the "EDA") established Tax Increment Financing District No. 1-7 ("TIF District No. 1-7") and adopted a tax increment financing plan (the "TIF Plan") on May 22, 1995; and WHEREAS, the EDA intends to modify the TIF Plan on March 25, 1996 to authorize financial assistance to Progressive Engineering, Inc.; and WHEREAS, the financial assistance the EDA intends to offer to Progressive Engineering, Inc. will involve the sale of land owned by the EDA to Progressive Engineering at a reduced price. NOW, THEREFORE, BE IT RESOLVED by the Lino Lakes Economic Development Authority as follows: 1. A public hearing shall be held on the 25th day of March , 1996 in order to consider the sale of the property to Progressive Engineering, Inc.. 2. The executive director is hereby authorized and directed to cause notice of the public hearing to be published in the official newspaper at least 10 but not more than 20 days prior to the hearing. 3. Staff is authorized and directed to take all actions necessary and appropriate in order to bring this item before the EDA at its meeting on the 25th day of March , 1996. RHB100192 LN140-45