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EDA MINUTES SEPTEMBER 22, 2003 <br />DRAFT <br /> <br />4 <br /> <br />EDA President Carlson verified the City Attorney had reviewed the information and recommended 135 <br />this action. Ms. Divine stated the City’s TIF Attorney made the recommendation. 136 <br /> 137 <br />EDA Member Bergeson moved to adopt a resolution authorizing a Subordination Agreement between 138 <br />the City of Lino Lakes and the lender for the developer. EDA Member O’Donnell seconded the 139 <br />motion. 140 <br /> 141 <br />Motion carried. EDA Member Dahl opposed. 142 <br /> 143 <br />CONSIDERATION OF RESOLUTION NO. 03-07 AUTHORIZING THE PREPARATION OF 144 <br />A PLAN TO MODIFY DEVELOPMENT DISTRICT NO. 1 AND TO ESTABLISH 145 <br />REDEVELOPMENT TAX INCREMENT FINANCING DISTRICT NO. 1-11 146 <br /> 147 <br />Ms. Divine summarized the Staff report, indicating Staff recommends approval of the resolution. 148 <br /> 149 <br />EDA Member O'Donnell moved to adopt Resolution No. 03-07 authorizing preparation of a modified 150 <br />program for Development District No. 1 and the establishment of Redevelopment Tax Increment 151 <br />Financing District No. 1-11. 152 <br /> 153 <br />Motion carried unanimously. 154 <br /> 155 <br />ADJOURNMENT 156 <br /> 157 <br />There being no further business, EDA Member O’Donnell moved to adjourn. EDA Member 158 <br />Bergeson seconded the motion. Motion passed unanimously. 159 <br /> 160 <br />Meeting adjourned at 6:43 p.m. 161 <br /> 162 <br /> 163 <br />Transcribed by: 164 <br />Karen Whaley 165 <br />TimeSaver Off Site Secretarial, Inc. 166 <br /> 167