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Member introduced the following resolution and moved its <br />adoption: <br />LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY <br />RESOLUTION NO. 98 -05 <br />RESOLUTION AUTHORIZING PREPARATION OF A MODIFIED PROGRAM <br />FOR DEVELOPMENT DISTRICT NO. 1 AND A PLAN FOR <br />TAX INCREMENT FINANCING DISTRICT NO. 1 -9 <br />WHEREAS, on January 26, 1987 the city council of the City of Lino Lakes (the <br />"City ") established Development District No. 1 ( "Development District ") and <br />adopted a program ("The Program ") for same; and <br />WHEREAS, the area of the city within the Development District and previously <br />established as Tax Increment Financing District No. 1 -7, generally known as the <br />Apollo Business Center and Lakes Business Park has not developed solely through <br />private efforts in a manner which is consistent with its prominence within the city <br />and which justifies the public expenditures for infrastructure improvements which <br />have been made; and <br />WHEREAS, it appears that it will be necessary to utilize tax increment financing to <br />assist in the area to achieve the purpose for which the business parks were <br />established; and <br />WHEREAS, it has been proposed that the following parcels: <br />17- 31 -22 -23 -0012 <br />17- 31 -22 -32 -0004 <br />18- 31 -22 -41 -0008 <br />18- 31 -22 -41 -0009 <br />18- 31 -22 -42 -0002 <br />