03/13/2006 Council Packet (2) - Laserfiche WebLink

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• • CITY OF LINO LAKES, MINNESOTA RESOLUTION NO. 06-40 PROPERTY TAX ABATEMENT RELATED ATED TO YMCA FACILITY BE IT RESOLVED by the City « Minnesota (the "City ") as follows: C °until (the Council ") of the City of Lino Lakes, Section I. Regis 1.01. Under Minnesota Statutes, Sections 471.15 to 471.191 City of Lino Lakes City (the "City ") is authorized to acquire, equip (the "Recreation Act"), the and also to cooperate with a nonprofit organization recreational program ' q p and maintain recreational p gram m any manner in which the mutually e the operation of such a parties mutually agree, and 1.02. In furtherance of a cooperative program the YMCA 1.02. Greater St. Paul p under the Recreation Act, the City and Lino Lakes Development Agreement, have entered into an agreement p greement, dated June 16, 2 breement titled a endeYMCA/City and superseded by the Amended and 005, which will be Restated Development Agreement to be dated n fiord after March 1, 2006 (the "Development Agreement "). The Development parties' respective responsibilities in the construction and operation square foes recreational ive responsibilities nsib lit in the City ion of Agreement describes 45,000 square legally e foot described the Development p on of an approximately a (the 4Si000 ty (the "Facility ") to be located on property "Legacy at Woods Edge;" pment Agreement) within a larger development knot�,n�as�ttl1e be, and 1.03. Under the Development Agreement, the Cit contribute $2,350,000 toward construction of the Facility; y has agreed, among other things, to Y� and 1.04. Under Minn. Stat. Sections 469.1812 through 469.1815 the City is authorized to grant is certain grant a property d "Abatement order ertto public purposes, tax abatement on specified parcels in order to accomplish opportunities p rposes, including situations where the abatement will provide employment cent for City City, provide or help acquire or construct public facilities, finance or provide public infrastructurelltainesd, help 1.05. The City is also authorized under the Abatement Act to issue bonds to pay for public improvements that benefit the property that is the source o 1.06. The City has determined that the f the abatement; and e Facility will help serve the City's programs under the Recreation Act, and that it will provide access both future residents of the Legacy at Woods Edge develo rn e recreational whole. to recreational services for p nt and residents in the City as a