1997-136 Council Resolution - Laserfiche WebLink

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Member Kuether introduced the following resolution and moved its adoption: CITY OF LINO LAKES RESOLUTION NO. 97-136 RESOLUTION REQUESTING ANOKA COUNTY TO DECERTIFY TAX INCREMENT FINANCING DISTRICT NO. 1-1 WHEREAS, the City Council of the City of Lino Lakes (the "City") established Tax Increment Financing District No. 1-1 ("TIF District No. 1-1") on Janaury 26, 1987; and WHEREAS, administrative responsibility for TIF District No. 1-1 was transferred in 1990 from the City to the Lino Lakes Economic Development Authority (the "Authority"); and WHEREAS, the plan for TIF District No. 1-1 was amended on December 18, 1995 and October 13, 1997 to modify the budget; and WHEREAS, the Authority has determined that the objectives for which TIF District No. 1-1 was established have been accomplished and has requested that the City join it in requesting Anoka County to decertify TIF District No. 1-1. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City Lino Lakes, Minnesota as follows: 1. The City joins with the Authority in requesting that Anoka County decertify TIF District No. 1-1, effective December 31, 1997. 2. City staff are authorized and directed to transfer all funds from the TIF District account prior to decertification of the TIF District, in accordance with the modified TIF plan. 3. City staff and consultants are authorized and directed to take any and all other steps necessary or convenient to effect the purposes of this resolution.