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• <br />• <br />• <br />AGENDA ITEM 3B -2 <br />STAFF ORIGINATOR: Al Rolek <br />DATE: 7/23/01 <br />TOPIC: Resolution No. 01 -105 adopting the City of Lino <br />Lakes Tax Abatement Policy <br />BACKGROUND: <br />This resolution establishes that the city developed objectives for the use of tax <br />abatement, which include providing assistance to the Town Center, increasing <br />the number and diversity of jobs, enhancing the tax base, or encouraging spin -off <br />development. <br />Policies for the use of tax abatement include developer responsibilities for <br />demonstrating an ability to complete the project, providing cash equity <br />investment, and that the project would not happen without financial assistance. <br />Attached are EDAC recommendations for language changes for Council <br />consideration. <br />OPTIONS: <br />1. Adopt Resolution No. 01 -105 <br />2. Do not adopt Resolution No. 01 -105 <br />3. Return to staff for further consideration <br />RECOMMENDATION: <br />Option 1 <br />