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Member Elliott introduced the following resolution and moved its <br />adoption: <br />CITY OF LINO LAKES <br />RESOLUTION NO. 94 - 56 <br />RESOLUTION APPROVING THE PLAN FOR TAX <br />INCREMENT FINANCING DISTRICT NO. 1-6 <br />BE IT RESOLVED By the City Council (the "Council") of the City of Lino <br />Lakes, Minnesota (the "City") as follows: <br />Section 1. Recitals. <br />1.01. On January 26, 1987, the City adopted a Development Program for <br />Development District No. 1, pursuant to and in accordance with Minnesota Statutes, <br />sections 469.124 through 469.134. <br />1.02. Since 1987, the City has established five tax increment financing <br />districts within Development District No. 1 pursuant to the provisions of Minnesota <br />Statutes, sections 469.174 through 469.179. <br />1.03. The City has subsequently transferred authority regarding economic <br />development within Lino Lakes, including administration of Development District No. <br />1, to the Economic Development Authority (the "Authority") . <br />1.04. It has been proposed that the Authority establish a sixth tax increment <br />financing district to assist a 6,000 sq. ft. warehouse project within Development <br />District No. 1. <br />1.05. The Authority has investigated the facts and has caused to be prepared <br />a Tax Increment Financing Plan ("Plan") for Tax Increment Financing District No. <br />1-6 describing the assistance which may be provided for the benefit of and to <br />encourage development of the new project. <br />1.06. All actions required by law to be performed prior to the approval of the <br />Plan have been performed, including, but not limited to, a review of the Plan by the <br />planning and zoning board for its consistency with the general plans for development <br />of the City, and approval of the Plan by the Authority on August 11, 1994. <br />1. 07. The Authority has notified Anoka County and Independent School <br />District No. 12 of the public hearing to be held before the Council. <br />1.08. The Plan is contained in a document entitled "Tax Increment Financing <br />Plan, Tax Increment Financing District No. 1-6, Lino Lakes Economic Development <br />Authority" dated August 11, 1994, and is on file at city hall. <br />1.09. The Council has fully reviewed the contents of the Plan and has on <br />August 11, 1994 conducted a public hearing thereon at which the views of all <br />interested persons were heard. <br />RBB74265 <br />LN140-29 <br />