26-2 - EDA Resolution - Approving Dev Dist No 2 and Econ Dev Program

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The Authority finds that certain existing public facilities are outdated or lack adequate space to serve the needs of the City's population. The most urgent public facilities need for the City is its public works facility. The current structure, built in 1971, was originally designed to house City Hall, Police, and administrative staff, not a public works operation for a City of Lino Lakes' current size. As the community has grown, so has the size of the vehicle fleet and the range of services the department provides. The existing facility no longer meets today's standards for efficiency, safety, or storage capacity, and many vehicles and pieces of equipment must be stored outside due to limited space. Having an effective and efficient public works facility will help the City respond efficiently to residents' public works needs and better serve the community. In addition, having an effective public works building within the Development District will allow the City to encourage development to stimulate future development of the City by providing access to public services and facilities to the citizens of and businesses in the City which will help the City maintain and expand the tax base. Each Project including the public works facility and future projects will be evaluated, from time to time, by the City and the Authority to determine that it is in the best interest of the health, safety and welfare of the City. Construction of a new public works building or other public facilities to promote development and redevelopment in cooperation with the City is anticipated to provide a stimulating effect for development of other parcels in the City by providing improved public works services in the City. The Authority specifically finds that the Development Program will afford maximum opportunity, consistent with the needs of the City as a whole, for the development of the City by private enterprise and that the Development Program shall conform to the general plan for the development of the City as a whole, subject to permitted variances or other exceptions as approved from time to time. The Authority also finds that the welfare of the City and the State requires the active promotion, retention, attraction, encouragement, and development of economically sound industry and commerce through governmental action for the purpose of preventing the emergence of blighted lands and areas of chronic unemployment. It shall also be the policy of the Authority to facilitate and encourage such action as may be necessary to prevent the economic deterioration of such areas to the point where the process can be reversed only by total redevelopment. Through the use of the powers conferred on the Authority pursuant to the EDA Act, promoting economic development may prevent the occurrence of conditions requiring redevelopment and prevent the emergence of blight, marginal land, and substantial and persistent unemployment. M. STATUTORY AUTHORITY Pursuant to the EDA Act, the Authority is authorized to exercise the powers of an economic development authority and the powers of a municipal housing and redevelopment authority established under Minnesota Statutes, Sections 469.001 through 469.047, as amended. It is the intention of the Authority, notwithstanding the enumeration of specific goals and objectives in the Development Program, that the Authority shall have and enjoy with respect to the Development District the full range of powers and duties conferred upon the Authority pursuant to the EDA Act and such other legal authority as the Authority may have or enjoy from time to time. The Authority is authorized under the EDA Act to undertake and administer the Development Program and the Development District, and to finance Public Costs of the Development District through project revenues and, if applicable, the issuance of Bonds as necessary and appropriate. IV. STATEMENT OF OBJECTIVES The Authority seeks to accomplish the following general objectives within the Development District through this Development Program: A. Promote the prompt development and redevelopment of property within the Development District in a manner consistent with the City comprehensive plan, which property is currently less productive 2 4896-5123-9318.1