12/14/1998 Council Packet - Laserfiche WebLink

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DEC 09 '98 02 :23PM EHLERS & ASSOCIATES P.4 /8 CITY OF LINO LAKES ANOKA COUNTY STATE OF MINNESOTA Council member introduced the following resolution and moved its adoption: RESOLUTION NO. RESOLUTION MODIFYING TAX INCREMENT FINANCING DISTRICTNO. 1-7 AND THE ADOPTING THE MODIFICATION OF THE TAX INCREMENT FINANCING PLAN THEREFOR AND ESTABLISHING TAX INCREMENT FINANCING DISTRICT NO. 1 -9 WITHIN DEVELOPMENT DISTRICT NO. 1 AND ADOPTING THE TAX INCREMENT FINANCING PLAN THEREFOR. BE IT RESOLVED by the City Council (the "Council ") of the City of Lino Lakes, Minnesota (the "City "), as follows: Section 1. Recitals. 1.01. The EDA has heretofore established Development District No. 1 and adopted the Development Program therefor. It has been proposed that the City modify Tax Increment Financing District No. 1 -7 ( "District No. 1 -7 ") and adopt the Modification to the Tax Increment Financing Plan therefor and establish Tax Increment Financing DistrictNo. 1 -9 ( "District No. 1 -9 ") therein, and adopt the Tax Increment Financing Plan therefor (collectively, the "Plans "); all pursuant to and in conformity with applicable law, including Minnesota Statutes, Sections 469.090 through 469.1081 and 469.174 through 469.179, all inclusive, as amended, all as reflected in the Plans, and presented for the Council's consideration. Generally, the Modification of District No. 1 -7 is to remove 14 parcels from DistrictNo. 1 -7, as listed in Appendix H -A of the Modification to the Tax increment Financing Plan. Five of these parcels will be in Tax Increment Financing District No. 1 -9 and are listed in Appendixlll -C of the Tax Increment Financing Plan for District No. 1 -9. 1.02. The Council has investigated the facts relating to the Plans. 1.03. The City has performed all actions required by law to be performed prior to the adoption and approval of the proposed Plans, including, but not limited to, notification of Anoka County and School District No. 12 having taxing jurisdiction over the property to be included in District No. 1 -9, a review of and written comment on the Plans by the City Planning Commission, and the holding of a public hearing upon published notice as required by law. 1.04 The Council recognizes that, pursuant to Minnesota. Statutes, Section 469.177, Subd. 3, clause b, there is a mandatory fiscal disparities contribution for DistrictNo. 1 -9, an economic development d istrict. N:\ Minn son \LINOLAKE \TIF l- 9 \city_res. wpd