1988-096 Council Resolution - Laserfiche WebLink

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• • • Member Bisel introduced the following resolution and moved its adoption: CITY OF LINO LAKES RESOLUTION NO. 96 - 88 RESOLUTION APPROVING A TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 1 -2 BE IT RESOLVED By the City Council of the City of Lino Lakes, Minnesota, as follows: Section 1. Recitals. 1.01. The City of Lino Lakes (City) approved the creation of Development District No. 1 (District) and adopted a program (Program) for the District in accordance with Minn. Stat., Sections 469.124 through 462.134 (Development District Act) on December 27,) 1988. 1.02. The City has previously approved the creation of a tax increment financing district within the District and adopted a plan for the TIF district pursuant to Minn. Stat., Sections 469.174 through 469.179 (TIF Act). 1.03. The City has determined to create a second tax increment financing district within the District (TIF District No. 1 -2) in order to promote development of areas of the City which are presently underdeveloped. 1.04. The City Council has authorized the preparation of a plan (Plan) for TIF District No. 1 -2 which is contained in a document entitled "Tax Increment Financing Plan, Tax Increment Financing District No. 1 -2, City of Lino Lakes, Minnesota," dated December 27, 1988. 1.05. Copies of the Plan have been forwarded to Independent School District No. 831 and to Anoka County along with a notice of the public hearing as required by the TIF Act. 1.06. The City's planning and zoning board has reviewed the Plan and on August 17, 1988, found the Plan to be consistent with the City's general plans for development. 1.07. The City Council has fully reviewed the contents of the Plan and has this date conducted a public hearing thereon at which the views of all interested persons were heard.