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08-11-2003 EDA Packet
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08-11-2003 EDA Packet
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EDA
EDA Document Type
EDA Packet
Meeting Date
08/11/2003
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LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY <br />RESOLUTION NO. 03-04 <br />RESOLUTION MODIFYING DEVELOPMENT DISTRICT NO. <br />1 AND ESTABLISHING TAX INCREMENT FINANCING <br />DISTRICT NO. 1-10 <br />WHEREAS, the Economic Development Authority (the "Authority") for the City <br />of Lino Lakes (the "City") has proposed to modify the Program (the "Program") for <br />Development District No. 1 and to establish Tax Increment Financing District No. 1-10 <br />("District No. 1-10") and adopt the Tax Increment Financing Plan (the "Plan") therefore, <br />all pursuant to and in conformity with existing law, including Minnesota Statutes, <br />Sections 469.090 through 469.1081, and Sections 469.174 to 469.179, inclusive, all as <br />reflected in the Program and Plan and presented for the Authority's consideration. <br />WHEREAS, the Authority has investigated the facts relating to the modification <br />of the Program and the establishment of the Plan, and has caused to be prepared a <br />"Modified Development Program, Development District No.1 and a "Tax Increment <br />Financing Plan for Tax Increment Financing (Economic Development) District No. 1- <br />10"; and <br />WHEREAS, the Authority has performed all actions required by law to be <br />performed prior to the adoption of the modified Program and the Plan, including but not <br />limited to notification of Anoka County and School District No. 12 having taxing <br />jurisdiction over the property to be included in District No. 1-10, a request for review of <br />and written comment on the Plan by the City Planning & Zoning Board, and a request <br />that the Council schedule a public hearing on the Plan upon published notice as required <br />by law. <br />NOW THEREFORE, BE IT RESOLVED by the Economic Development <br />Authority of the City of Lino Lakes as follows: <br />. That the modified Program for Development District No. 1 is hereby approved <br />in substantially the form on file in City Hall. <br />2. The Plan is hereby approved in substantially the form on file in City Hall. <br />3. Upon approval of the Plan by the City Council, the staff, the Authority's <br />advisors and legal counsel are authorized and directed to proceed with the <br />implementation of the Plan and for this purpose to negotiate, draft, prepare <br />and present to this Authority for its consideration all further plans, resolutions, <br />documents and contracts necessary for this purpose. Approval of the Plan does <br />not constitute approval of any project or a development agreement with any <br />developer. <br />SJB-235626v1 <br />LN140-81 <br />
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