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City of Lino Lakes and Lino Lakes Economic Development Authority <br />ESTABLISHMENT OF THE TAX INCREMENT FINANCING PLAN <br />FOR TAX INCREMENT FINANCING (ECONOMIC DEVELOPMENT) DISTRICT NO. 1-14 <br />Section A Definitions <br />The terms defined in this section have the meanings given herein, unless the context in which they are <br />used indicates a different meaning: <br />"Authority" means the Lino Lakes Economic Development Authority. <br />"City" means the City of Lino Lakes, Minnesota; also referred to as a "Municipality". <br />"City Council" means the City Council of the City; also referred to as the "Governing Body". <br />"County" means Anoka County, Minnesota <br />"Development District" means Development District No. 1 in the City, which is described in the <br />corresponding Development Program. <br />"Development Program" means the Development Program for the Development District. <br />"Project Area" means the geographic area of the Development District. <br />"School District" means Independent School District No. 12, Minnesota. <br />"State" means the State of Minnesota. <br />"TIF Act" means Minnesota Statutes, Sections 469.174 through 469.1794, both inclusive. <br />"TIF District" means Tax Increment Financing (Economic Development) District No. 1-14. <br />"TIF Plan" means the tax increment financing plan for the TIF District (this document). <br />Section B Statutory Authorization <br />The Development District Act authorizes the City and Authority, upon certain public purpose findings by <br />the City Council, to establish and designate development districts within the City and to develop and <br />administer development programs therefore to meet the needs and accomplish the public purposes <br />specified in Section C. In accordance with the purposes set forth in Section 469.124 of the Development <br />District Act, the City Council and Authority have established the Development District comprising the area <br />described in Section E and have adopted this Development Program. <br />Section C Statement of Need and Public Purpose <br />The City Council and Authority have determined that there is a need for the City to take certain actions <br />they deem necessary in order to encourage, ensure and facilitate development and redevelopment by the <br />private sector of underutilized, inappropriately used and unused land located within the corporate limits of <br />the City. Such actions are necessary in order to provide additional employment opportunities for <br />residents of the City and the surrounding area; to improve the tax base of the City, the County and the <br />Draft <br />Baker Tilly Municipal Advisors, LLC Page 1 <br />