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06-23-2003 EDA Packet
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06-23-2003 EDA Packet
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EDA
EDA Document Type
EDA Packet
Meeting Date
06/23/2003
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CONSIDERATION OF RESOLUTION NO. 02-01, APPROVING THE <br />ELIMINATION OF A PARCEL FROM TAX INCREMENT FINANCING <br />DISTRICT NO. 1-9 WITHIN DEVELOPMENT DISTRICT NO. 1 OF THE CITY <br />OF LINO LAKES <br />Ms. Divine advised in 1998, the EDA created Tax Increment Financing (TIF) District No. <br />1-9 for the purpose of providing TIF assistance to industrial prospects in the Apollo <br />Business Park and the Lakes Business Park. At that time the landowner had interest in <br />developing Lakes Business Park on Lake Drive as a light industrial park. <br />Ms. Divine indicated since that time the landowner has sold a piece of the site to <br />Centennial School District for its new elementary school and the City approved a minor <br />subdivision for the school parcel. The School District wishes to combine the elementary <br />school and the adjacent middle school into one tax exempt parcel. To do so, Anoka <br />County requires the parcel to be removed from the TIF District. <br />Ms. Divine advised staff recommends adoption of Resolution No. 02-01, Approving the <br />Elimination of a Parcel from TIF District No. 1-9. <br />EDA Member O'Donnell moved to adopt Resolution No. 02-01, Approving the <br />Elimination of a Parcel from TIF District No. 1-9. EDA Member Dahl seconded the <br />motion. Motion passed unanimously. <br />Resolution No. 02-01 can be found in the City Clerk's office. <br />ADJOURNMENT <br />EDA Member O'Donnell moved to adjourn. EDA Member Reinert seconded the motion. <br />Motion passed unanimously. <br />Meeting adjourned at 6:22 p.m. <br />Transcribed by: <br />Lori Rolfson <br />TimeSaver Off Site Secretarial, Inc. <br />4 <br />
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