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02-12-1996 EDA Packet
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02-12-1996 EDA Packet
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EDA
EDA Document Type
EDA Packet
Meeting Date
02/12/1996
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Member introduced the following resolution and moved its adoption: <br />LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY <br />RESOLUTION NO. 9 6 - 0 3 <br />RESOLUTION ESTABLISHING PUBLIC HEARING FOR THE <br />SALE OF PROPERTY <br />WHEREAS, the Lino Lakes Economic Development Authority (the "EDA") established <br />Tax Increment Financing District No. 1-7 ("TIF District No. 1-7") and adopted a tax increment <br />financing plan (the "TIF Plan") on May 22, 1995; and <br />WHEREAS, the EDA intends to modify the TIF Plan on March 25, 1996 to authorize <br />financial assistance to Progressive Engineering, Inc.; and <br />WHEREAS, the financial assistance the EDA intends to offer to Progressive Engineering, <br />Inc. will involve the sale of land owned by the EDA to Progressive Engineering at a reduced <br />price. <br />NOW, THEREFORE, BE IT RESOLVED by the Lino Lakes Economic Development <br />Authority as follows: <br />1. A public hearing shall be held on the day of , 1996 in order <br />to consider the sale of the property to Progressive Engineering, Inc.. <br />2. The executive director is hereby authorized and directed to cause notice of the <br />public hearing to be published in the official newspaper at least 10 but not more <br />than 20 days prior to the hearing. <br />3. Staff is authorized and directed to take all actions necessary and appropriate in <br />order to bring this item before the EDA at its meeting on the day of <br />, 1996. <br />RRB100192 <br />LN140-45 <br />
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