My WebLink
|
Help
|
About
|
Sign Out
Home
Search
09-09-2019 Council Packet
LinoLakes
>
City Council
>
City Council Meeting Packets
>
1982-2020
>
2019
>
09-09-2019 Council Packet
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
10/30/2021 1:08:48 PM
Creation date
10/16/2019 3:51:59 PM
Metadata
Fields
Template:
City Council
Council Document Type
Council Packet
Meeting Date
09/09/2019
Council Meeting Type
Regular
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
94
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
<br />607378v1LN140-121 <br />Lino Lakes, Minnesota <br />Private Activity <br />Tax-Exempt Financing Guidelines <br /> <br />PART I <br /> <br />GENERAL <br /> <br /> <br />Under the Minnesota Municipal Industrial development Act, Minnesota Statutes, Sections <br />469.152 to 469.1651 (the “Industrial Development Act”), the City of Lino Lakes, Minnesota has <br />authority to issue revenue bonds or notes to attract or promote economically sound industry and <br />commerce to the City, including the development of facilities by qualified 501(c)(3) organizations. <br /> <br />Under Minnesota Statutes, Chapter 462C (the “Housing Act”) the City is authorized to issue <br />housing revenue bonds to finance multi-family residential housing projects for low and moderate <br />income persona and elderly persons. <br /> <br />The City Council is aware that such financing for certain private activities may be of benefit to the <br />City and will consider requests for tax exempt financing subject to these Guidelines. The City <br />Council considers tax exempt financing to be a privilege, not a right. <br /> <br />It is the judgment of the City Council that tax exempt financing is to be used on a selective basis <br />to encourage certain development that offers a benefit to the City as a whole, including <br />employment and housing opportunities. It is the applicant’s responsibility to demonstrate the <br />benefit to the City. The applicant should understand that although approval may have been <br />granted by the City for the issuance of financing for a similar project or a similar debt structure <br />that is not a basis upon which approval will be granted. Each application will be judged on the <br />merits of the project as it relates to the public purposes of the Housing Act or the Industrial <br />Development Act and the benefit to the City at the time the request for financing is being <br />considered. <br />
The URL can be used to link to this page
Your browser does not support the video tag.