Laserfiche WebLink
120 <br />COUNCIL MEETING JULY 25, 1988 <br />meet with other consultants and individuals who are going to <br />build and get some commitments from them. This proposal is <br />being rushed because it is expected that Ross's Corner will <br />be coming in requesting a building permit. Plan approval is <br />required before a permit can be issued. <br />TAX INCREMENT FINANCING PLAN - SET PUBLIC HEARING FOR AUGUST <br />22, 1988, 8:30 P.M. - RESOLUTION NO. 55 - 88 <br />Mr. Miller explained that Resolution No. 55 - 88 authorizes <br />the bond attorney to complete the TIF plan and sets the date <br />for the public hearing. Mr. Bisel asked that the bond <br />attorney have more information for the Council prior to the _ <br />public hearing. Mr. Miller explained that the process will <br />start with completing the plan, conducting the public <br />hearing, securing letters of intent from the builders and <br />ask for surety to cover costs. Bonds will then be sold, <br />property acquired and other requirements of the plan <br />implemented. He noted that there are two builders who intend <br />to start construction in 1989 and Mr. Ross expects to begin <br />construction in 1988. <br />Mr. Bohjanen asked that the northeast quadrant of Lake Drive <br />and Main Street be included in the plan. Mr. Bisel moved <br />the adoption of Resolution No. 55 - 88. Mr. Neal seconded <br />the motion. Mrs. Anderson read the resolution. Resolution <br />carried unanimously. <br />CITY OF LINO LAKES <br />RESOLUTION NO. 55 - 88 <br />WHEREAS, the City Council wishes to establish a Development <br />District pursuant to Minnesota Statutes, Sections <br />469.124 through 469.134 and to establish a Tax In- <br />crement Financing District within the Development <br />District pursuant to Minnesota Statutes, Sections <br />469.174 through 469.179 for the purpose of encour- <br />aging development within a portion of the City. <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the <br />City of Lino Lakes, Minnesota as follows: <br />1. LaFevere, Lafler, Kennedy, O'Brien & Drawz, P. A. is <br />hereby authorized and directed to prepare a Develop- <br />ment Progran (Program) and a Tax Increment Financing <br />Plan (Plan) and to file a copy thereof with the City <br />Administrator. <br />PAGE 3 <br />