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066 <br />1 <br />1 <br />COUNCIL MEETING <br />November 24, 1986 <br />CONSIDERATION OF RESOLUTION 155-86 SETTING PUBLIC HEARING ESTABLISHING <br />A TAX INCREMENT FINANCING DISTRICT <br />Mr. Sdhumacher explained that this resolution is calling for a public <br />hearing and sets out four steps: 1) create development district #1; <br />2) adoption by Lino Lakes of development program #1 for District #1; <br />3) creation of housing district #1; 4) adoption of tax increment <br />financing plan. Mr. Marier moved to approve Resolution #55 -86. Mr. <br />Bisel seconded the motion. Motion carried unanimously. <br />Mayor Benson asked that all agenda materials be sent with the agenda <br />to allow time for Council Members to review the material. <br />RESOLUTION NO. 55 - 86 <br />RESOLUTION CALLING PUBLIC HEARING ON <br />THE CREATION OF DEVELOPMENT DISTRICT NO. 1 <br />AND THE ADOPTION BY THE CITY OF THE <br />DEVELOPMENT PROGRAM FOR DEVELOPMENT DISTRICT NO. 1 <br />AND THE CREATION OF HOUSING DISTRICT NO. 1 -1 <br />AND THE ADOPTION OF THE TAX INCREMENT FINANCING PLAN <br />FOR HOUSING DISTRICT NO. 1 -1 <br />BE IT RESOLVED, by the City Council (the "Council ") of <br />the City of Lino Lakes, Minnesota (the "City "), as follows: <br />Section 1. Public Hearing. This Council shall meet on <br />December 22, 1986, at approximately 8:00 P.M., to hold a public <br />hearing on the following matters: (a) the proposed adoption <br />of the City's Development Program for Development District No. <br />1 and the creation of Development District No. 1, and (b) the <br />proposed creation of Housing District No. 1 -1 and the proposed <br />adoption of a Tax Increment Financing Plan relating thereto, <br />all pursuant to and in accordance with Minnesota Statutes, Chapter <br />472A, as amended and Minnesota Statutes, Sections 273.71 to <br />273.78, inclusive, as amended. <br />Section 2. Notice of Hearing; Filing of Program. The <br />City .Clerk- Treasurer is authorized and directed to cause notice <br />of the hearing, substantially in the form attached hereto as <br />Exhibit A, to be given as required by law, to place a copy of <br />the Development Program and the Tax Increment Financing Plan <br />on file in the Clerk- Treasurer's office at City Hall and to <br />Imake such copy available for inspection by the public no later <br />than December 8, 1986. <br />