2022-126 Council Resolution - Laserfiche WebLink

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CITY OF LINO LAKES RESOLUTION NO.22-126 RESOLUTION APPROVING TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING (ECONOMIC DEVELOPMENT)DISTRICT NO. 1-14 WHEREAS, the City of Lino Lakes, Minnesota (the "City") and the Lino Lakes Economic Development Authority (the "Authority") have established, and the Authority administers, Development District No. 1 (the "Development District") located within the City and have caused to be created a Development Plan(the "Development Plan") therefor,pursuant to Minnesota Statutes, Sections 469.090 through 469.1082,as amended;and WHEREAS, within the Development District the City and the Authority have created certain tax increment financing districts pursuant to Minnesota Statutes, Sections 469.174 through 469.1794, as amended(the"TIF Act");and WHEREAS,the City and the Authority have determined to approve a tax increment financing plan (the "TIF Plan") relating to the creation of a new tax increment financing district within the Development District designated as Tax Increment Financing (Economic Development) District No. 1-14 (the "TIF District"),all as described in a plan document presented to the City Council of the City on the date hereof, and WHEREAS,pursuant to Section 469.175, subdivision 2 of the TIF Act,the proposed TIF Plan and the estimates of the fiscal and economic implications of the TIF Plan were presented to the Clerk of the Board of Education of Independent School District No. 12 and to the Manager of Property Records and Taxation, as the County Auditor, of Anoka County, Minnesota (the "County Auditor") at least thirty (30) days prior to the date hereof,and WHEREAS, on the date hereof, the City Council conducted a duly noticed public hearing relating to the TIF Plan and the establishment of the TIF District, at which the views of all interested parties were heard at the public hearing; and WHEREAS,the City Council has reviewed the contents of the TIF Plan;and NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lino Lakes, Minnesota that: Section 1. Findings: Development Plan. It is hereby found and determined that the Development Plan remains in full force and effect and that the goal of the Development Plan is to encourage development and redevelopment in accordance with the general plan for development of the City as set forth in the comprehensive municipal plan. Section 2. Findings:TIF District. 2.01. It is found and determined that it is necessary and desirable for the sound and orderly development of the Development District, and for the protection and preservation of the public health, safety, and general welfare, that the authority of the TIF Act be exercised by the City to provide public financial assistance to the TIF District and the Development District.