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AGENDA ITEM 6B <br />STAFF ORIGINATOR: Mary Alice Divine <br />DATE: 12/20/04 <br />TOPIC: <br />Consideration of Resolution No. 04 -200 Terminating <br />Tax Increment Financing District No. 1 -8 and <br />Directing Decertification by the County Auditor <br />VOTE REQUIRED: 3/5 <br />BACKGROUND: <br />The City of Lino Lakes created TIF District No. 1 -8 on April 28, 1997. The <br />establishment of this 25 -year Redevelopment District was in response to several <br />areas within the city that met the criteria for redevelopment and had potential for <br />redevelopment. Of the three sites within the district, only one has redeveloped. <br />Fairview Healthcare was provided with assistance to redevelop the former <br />Gethsemane Church site on the southwest corner of the 35W/Lake Drive and <br />construct its clinic. All obligations under the agreement with Fairview have been <br />met. <br />OPTIONS: <br />1. Approve Resolution No. 04 -200 Terminating TIF District No. =8 <br />2. Do not terminate the district. <br />3. Return to staff for further consideration <br />RECOMMENDATION: <br />Option 1 <br />