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11-13-1995 EDA Packet
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11-13-1995 EDA Packet
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EDA
EDA Document Type
EDA Packet
Meeting Date
11/13/1995
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Member <br />adoption: <br />introduced the following resolution and moved its <br />LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY <br />RESOLUTION NO. 95-14 <br />RESOLUTION AUTHORIZING PREPARATION OF A MODIFIED PROGRAM FOR <br />DEVELOPMENT DISTRICT NO. 1 AND TAX INCREMENT FINANCING PLANS FOR <br />TAX INCREMENT FINANCING DISTRICTS NO. 1-1 AND NO. 1-2 <br />WHEREAS, on January 26, 1987 the city council of the City of Lino Lakes (the <br />"City") established Development District No. 1("Development District") and Tax <br />Increment Financing District No. 1-1 ("TIF District No. 1-1") therein; <br />WHEREAS, on December 27, 1988 the City established Tax Increment <br />Financing District No. 1-2 ("TIF District No. 1-2") within the Development District; and <br />WHEREAS, the City established the Development District and Tax Increment <br />Financing Districts 1-1 and 1-2 in order to promote development within areas of the <br />community which have not developed solely through private efforts in a manner which <br />is consistent with their prominence; and <br />WHEREAS, it has been proposed that the Development District Program and <br />the TIF Plans be modified to assist improvements within the Development District <br />pursuant to Minnesota Statutes, sections 469.174 through 469.179 (the "TIF Act") <br />and sections 469.124 through 469.134 (the "City Development District Act"); and <br />WHEREAS, the City has transferred authority for the Development District and <br />TIF Districts No. 1-1 and 1-2 to the Lino Lakes Economic Development Authority (the <br />"EDA"); <br />
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