1995-081 Council Resolution - Laserfiche WebLink

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Member Elliott introduced the following resolution and moved its adoption: CITY OF LINO LAKES RESOLUTION NO. 95-81 RESOLUTION APPROVING THE PROGRAM FOR DEVELOPMENT DISTRICT NO. 3 AND THE PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 3-1 BE IT RESOLVED By the City Council of the City of Lino Lakes, Minnesota (the "City") as follows: Section 1. Recitals. 1.01. In response to a development proposal in an area of the community which has not developed to its potential, the Lino Lakes Economic Development Authority (the "Authority") has proposed to establish a development district ("Development District No . 3") pursuant to Minnesota Statutes , section 469.124 through 469.134 and a tax increment financing district ("TIF District No. 3-1") pursuant to Minnesota Statutes, section 469.174 through 469.179, within Development District No. 3. 1.02. The Authority has investigated the facts and has caused to be prepared a development district program (the "Program") and a tax increment financing plan (the "Plan") describing the assistance which may be provided for the benefit of and to encourage development within Development District No. 3. 1.03. All actions required by law to be performed prior to the adoption of the Program and the Plan and establishment of Development District No. 3 and Tax Increment Financing District No. 3-1 have been performed, including approval of the Program and the Plan by the Authority on June 29, 1995. 1.04. The Authority has notified Anoka County and Independent School District Nos. 12 and 624 of the public hearing on the Plan to be held before the city council on June 29, 1995. 1.05. The Program and Plan are contained in a document entitled "Development District Program, Development District No. 3 and Tax Increment Financing Plan, Tax Increment Financing District No. 3-1, Lino Lakes Economic Development Authority" dated June 29, 1995, which is on file at city hall. 1.06. The Council has fully reviewed the contents of the Program and Plan and has on June 29, 1995 conducted a public hearing thereon at which the views of all interested persons were heard. Section 2. Findings Relating to the Creation of Development District No. 3. 2.01. It is found that a portion of the community lying along the I -35E corridor has not developed to a degree which its prominence in Lino Lakes would otherwise warrant solely through private efforts. RHB90913 LN140-37