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Member Elliott introduced the following resolution and moved its <br />adoption: <br />CITY OF LINO LAKES <br />RESOLUTION NO. 92 - 96 <br />RESOLUTION CALLING FOR A PUBLIC <br />HEARING ON THE ADOPTION OF A TAX <br />INCREMENT FINANCING PLAN FOR TAX <br />INCREMENT FINANCING DISTRICT NO. 1-5 <br />WHEREAS, on January 26, 1987 the City of Lino Lakes (City) established a <br />city development district pursuant Minnesota Statutes, Sections 469.124 through <br />469.134 (Development District No. 1) to promote development and redevelopment <br />within an area of the City which has not been developed to its full potential; and <br />WHEREAS, the City has previously established four tax increment financing <br />districts within Development District No. 1 to assist specific projects which would <br />�- not have occurred without public assistance; and <br />WHEREAS, responsibility for development activities generally and for <br />Development District No. 1 specifically been transferred from the City to the Lino <br />Lakes Economic Development Authority (EDA) , pursuant to Minnesota Statutes, <br />Sections 469.090 through 469.108; and <br />WHEREAS, the EDA wishes to establish Tax Increment Financing District No. <br />1-5 (TIF No. 1-5) within Development District No. 1 in order to assist another <br />project which would not have occurred without assistance and has authorized <br />preparation of a Plan for TIF No. 1-5. <br />NOW, THEREFORE, BE IT RESOLVED By the City Council of the City of Lino <br />Lakes, Minnesota as follows: <br />1. The city council shall hold a public hearing on the Plan on September 28, 1992, <br />starting at 7 : 30 p.m. in the council chambers at city hall. <br />RHB39639 <br />LN140-25 <br />