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EDA MINUTES SEPTEMBER 22, 2003 <br />DRAFT <br />•135 EDA President Carlson verified the City Attorney had reviewed the information and recommended <br />136 this action. Ms. Divine stated the City's TIF Attorney made the recommendation. <br />137 <br />138 EDA Member Bergeson moved to adopt a resolution authorizing a Subordination Agreement between <br />139 the City of Lino Lakes and the lender for the developer. EDA Member O'Donnell seconded the <br />140 motion. <br />141 <br />142 Motion carried. EDA Member Dahl opposed. <br />143 <br />144 CONSIDERATION OF RESOLUTION NO. 03-07 AUTHORIZING THE PREPARATION OF <br />145 A PLAN TO MODIFY DEVELOPMENT DISTRICT NO. 1 AND TO ESTABLISH <br />146 REDEVELOPMENT TAX INCREMENT FINANCING DISTRICT NO. 1 -11 <br />147 <br />148 Ms. Divine summarized the Staff report, indicating Staff recommends approval of the resolution. <br />149 <br />150 EDA Member O'Donnell moved to adopt Resolution No. 03 -07 authorizing preparation of a modified <br />151 program for Development District No. 1 and the establishment of Redevelopment Tax Increment <br />152 Financing District No. 1 -11. <br />153 <br />154 Motion carried unanimously. <br />155 <br />156 ADJOURNMENT <br />i157 <br />158 There being no further business, EDA Member O'Donnell moved to adjourn. EDA Member <br />159 Bergeson seconded the motion. Motion passed unanimously. <br />160 <br />161 Meeting adjourned at 6:43 p.m. <br />162 <br />163 <br />164 Transcribed by: <br />165 Karen Whaley <br />166 TimeSaver Off Site Secretarial, Inc. <br />167 <br />• <br />