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CITY OF LINO LAKES <br />RESOLUTION NO. 24-110 <br />DECERTIFYING TAX INCREMENT FINANCING DISTRICT 1-12 <br />WHEREAS, on March 24, 2017 the City of Lino Lakes certified Tax Increment Financing <br />District 1-12 Clearwater Creek Business Park Project (the "District"); and <br />WHEREAS, Minnesota Statutes, Section 469.147 to 469.179 authorizes the City Council to <br />decertify a tax increment financing district on any date after all obligations have been satisfied; <br />and <br />WHEREAS, as of the date hereof all obligations to which tax increment from the District <br />have been pledged have been paid in full; and <br />WHEREAS, the City desires by this resolution to decertify the District effective August 31, <br />2024, after which all property taxes generated by property within the District will be distributed <br />in the same manner as all other taxes payable; and <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of Lino Lakes, Minnesota that staff <br />shall take necessary action to decertify the District with the Anoka County Auditor in order to <br />discontinue tax increment remittance from the District to the City. <br />Adopted by the City Council of the City of Lino Lakes this 261" day of August, 2024. <br />1 <br />Rob Rafferty, ayor <br />ATTEST: <br />Roberta Colotti, CMC, City Clerk <br />