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Member Elliott <br />introduced the following resolution and moved its adoption: <br />CITY OF LINO LAKES <br />RESOLUTION NO. 95-65 <br />RESOLUTION APPROVING MODIFICATION OF <br />TAX INCREMENT FINANCING PLAN FOR <br />TAX INCREMENT FINANCING DISTRICT NO. 1-4 <br />BE IT RESOLVED by the City Council of the City of Lino Lakes, Minnesota as follows: <br />Section 1. Recitals. <br />1.01. The City Council of the City of Lino Lakes (the "City") approved a tax increment <br />financing plan (the "Plan") for Tax Increment Financing District No. 1-4 on March 26, 1990. <br />1.02. The City established the Lino Lakes Economic Development Authority (the <br />"Authority") in 1990 and transferred to it control of Tax Increment Financing District No. 1-4. <br />1.03. Changes and additions to the public and private improvements to be constructed <br />have prompted the City and the Authority from time to time to modify the Plan. <br />1.04. In response to a recent development proposal from River Woods Development <br />Corporation, the Authority and the City have authorized the preparation of a modified Plan, <br />which is contained in a document entitled "Modified Tax Increment Financing Plan for Tax <br />Increment Financing District No. 1-4" dated June 12, 1995 and on file with the clerk -treasurer. <br />1.05. Copies of the modified Plan have been forwarded to Independent School District <br />No. 12 and Anoka County along with a notice of a public hearing to be held by the City on June <br />12, 1995. <br />1.06. The Authority has adopted the modified Plan and referred it to the City for public <br />hearing and consideration as provided by Minnesota Statutes, sections 469.174 through 469.179 <br />(the "TIF Act"). <br />1.07. The City has fully reviewed the contents of the modified Plan and has this date <br />conducted a public hearing thereon at which the views of all interested persons were heard. <br />Section 2. Findings; Modification of Plan. <br />2.01. It is found and determined that it is necessary and desirable to the sound and <br />orderly development and redevelopment of Tax Increment Financing District No. 1-4 and the City <br />as a whole, and for the protection and preservation of the public health, safety, and general <br />RHB62063 <br />LN140-11 <br />