Resolution No. 04-05 EDA (Approved)

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WHEREAS, the Parcel to be eliminated does not yet have an original net tax capacity, so at the time the TIF District is filed for certification, the boundaries of the district will exclude the Parcel; and WHEREAS, the Authority has determined to modify the Plan, prior to filing for certification, in order to eliminate the Parcel; and WHEREAS, elimination of the Parcel does not affect or impair the findings made by the City Council, upon approval of the Plan, that the TIF District is a redevelopment district under the TIF Act. NOW THEREFORE, BE IT RESOLVED by the Economic Development Authority of the City of Lino Lakes as follows: 1. The administrative modification to the Plan, eliminating the Parcel, is hereby approved in substantially the form on file in City Hall. 2. Upon approval of the modification to the Plan by the City Council, the Community Development Director is authorized to forward a copy of the modified Plan to the Department of Revenue pursuant to Minnesota Statutes 469.175, subd.4a. 3. The City Clerk is authorized and directed to forward a copy of the Plan to Anoka County and request that the Auditor certify the original tax capacity of the TIF District, as modified, all in accordance with Minnesota Statutes 469.177. DATED: December 20, 2004 __________________________________ President ATTEST: __________________________________ Executive Director SJB-240584v1 2 LN140-80