09/25/1989 Council Minutes (2) - Laserfiche WebLink

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Member introduced the following resolution and moved its adoption: CITY OF LINO LAKES RESOLUTION NO. 68 - 89 RESOLUTION APPROVING A TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO.1 -3 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 , 198_. 1.02. The City has previously approved the creation of two tax increment financing districts within the District and adopted plans for the TIF districts pursuant to Minn. Stat. Sections 469.174 through 469.179 (TIF Act). 1.03. The City has determined to create a third tax increment financing district within the District (TIF District No. 1 -3) in order to promote development of an area of the City which is in need of redevelopment. 1.04. The City Council has authorized the preparation of a plan (Plan) for TIF District No. 1 -3 which is contained in a document entitled Fax Increment Financing Plan, Tax Increment Financing District No. 1 -3, City of Lino Lakes, Minnesota," dated September 25, 1989. 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 , 1989, 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 h'eard.