1993-096 Council Resolution - Laserfiche WebLink

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Member Kuether introduced the following resolution and moved its adoption: CITY OF LINO LAKES RESOLUTION NO. 96 - 93 RESOLUTION APPROVING MODIFICATION OF TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 1-4 BE IT RESOLVED by the City Council of the City of Lino Lakes, Minnesota as follows: Section 1. Recitals. 1.01. The City Council of the City of Lino Lakes ("City") approved a tax increment financing plan ("Plan") for Tax Increment Financing District No. 1-4 on March 26, 1990. 1.02. The City established the Lino Lakes Economic Development Authority ("Authority") in 1990 and transferred to it control of Tax Increment Financing District No. 1-4. 1.03. Changes and additions to the public and private improvements to be constructed in the project area has prompted the need for a modification of the Plan. 1.04. In response to these changes, the Authority and the City have authorized the preparation of a modified Plan, which is contained in a document entitled "Modified Tax Increment Financing Plan for Tax Increment Financing District No. 1-4" dated December 13, 1993 and on file with the city clerk. 1.05. In accordance with Minnesota Statutes, sections 469.174 through 469.179 ("TIF Act") , the modified Plan was referred to the Lino Lakes planning commission which on November 10 , 1993, found that it conforms to and is not in conflict with the general plan for redevelopment of the City as a whole. 1.06. The Authority has also adopted the modified Plan for and referred it to the City for public hearing and consideration as provided by the TIF Act. 1.07. Copies of the modified Plan have been forwarded to Centennial School District and Anoka County along with a notice of a public hearing to be held by the City on December 13, 1993. 1.08. The City has fully reviewed the contents of the modified Plan and has this date conducted a public hearing thereon at which the views of all interested persons were heard. RHB62063 LN140-11