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• <br />Council Member Roeser introduced the following resolution and moved its <br />adoption: <br />CITY OF LINO LAKES <br />COUNTY OF ANOKA <br />RESOLUTION NO. 11 -76 <br />RESOLUTION CALLING FOR A PUBLIC HEARING ON THE <br />MODIFICATION OF THE DEVELOPMENT PROGRAM FOR <br />DEVELOPMENT DISTRICT NO. 1 AND MODIFICATION OF <br />THE TAX INCREMENT FINANCING PLAN FOR TAX <br />INCREMENT FINANCING DISTRICT NO. 1 -10 <br />WHEREAS, the City of Lino Lakes ( "City ") and the Lino Lakes Economic <br />Development Authority (the "Authority ") created and administer Development District No. <br />1 (the "Development District ") under Minnesota Statutes, Sections 469.124 to 469.134 (the <br />"Municipal Development Act: "); and <br />WHEREAS, within the Development District, the Authority and City previously <br />established Tax Increment Financing District No. 1 -10 (the "TIF District ") pursuant to <br />Minnesota Statutes, Sections 469.174 to 469.1799 (the "TIF Act: "); and <br />WHEREAS, under 2011 Minnesota Laws, Ch. 112, Art. 11, Section 18 (the "Special <br />Law "), the Authority is authorized to collect tax increments from the TIF District through <br />December 31, 2023 and use such increments to pay debt service on bonds issued to finance <br />the interchange of Anoka County Highway 23 and Interstate 35W, and bonds issued to <br />finance public improvements serving the development known as Legacy at Woods Edge; <br />and <br />WHEREAS, the City Council has determined to modify the tax increment financing <br />plan for the TIF District in order to implement the Special Law, and to hold a public hearing <br />thereon in accordance with the TIF Act. <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lino <br />Lakes, that: <br />1. The Council hereby ratifies actions by City staff and consultants to prepare a <br />modified Development Program for the Development District and a modification to the TIF <br />Plan for the TIF District (together, the "Plans "), and to arrange for distribution of the draft <br />Plans to the Anoka County Board and the school board for Independent School District No. <br />12 at least 30 days before the hearing. <br />