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CITY OF LINO LAKES <br />ANOKA COUNTY <br />STATE OF MINNESOTA <br />Council member Neal <br />introduced the following resolution and moved its adoption: <br />RESOLUTION NO. 98 - 171 <br />RESOLUTION MODIFYING TAX INCREMENT FINANCING DISTRICT NO. 1-7 <br />AND THE ADOPTING THE MODIFICATION OF THE TAX INCREMENT <br />FINANCING PLAN THEREFOR AND ESTABLISHING TAX INCREMENT <br />FINANCING DISTRICT NO. 1-9 WITHIN DEVELOPMENT DISTRICT NO. 1 <br />AND ADOPTING THE TAX INCREMENT FINANCING PLAN THEREFOR. <br />BE IT RESOLVED by the City Council (the "Council") of the City of Lino Lakes, Minnesota (the <br />"City"), as follows: <br />Section 1. Recitals. <br />1.01. The EDA has heretofore established Development District No. 1 and adopted the <br />Development Program therefor. It has been proposed that the City modify Tax Increment Financing District <br />No. 1-7 ("District No. 1-7") and adopt the Modification to the Tax Increment Financing Plan therefor and <br />establish Tax Increment Financing DistrictNo. 1-9 ("District No. 1-9") therein, and adopt the Tax Increment <br />Financing Plan therefor (collectively, the "Plans"); all pursuant to and in conformity with applicable law, <br />including Minnesota Statutes, Sections 469.090 through 469.1081 and 469.174 through 469.179, all <br />inclusive, as amended, all as reflected in the Plans, and presented for the Council's consideration. Generally, <br />the Modification of District No. 1-7 is to remove 14 parcels from DistrictNo. 1-7, as listed in Appendix II -A <br />of the Modification to the Tax Increment Financing Plan. Five of these parcels will be in Tax Increment <br />Financing District No. 1-9 and are listed in Appendix III -C of the Tax Increment Financing Plan for District <br />No. 1-9. <br />1.02. The Council has investigated the facts relating to the Plans. <br />1.03. The City has performed all actions required by law to be performed prior to the adoption and <br />approval of the proposed Plans, including, but not limited to, notification of Anoka County and School <br />District No. 12 having taxing jurisdiction over the property to be included in District No. 1-9, a review of <br />and written comment on the Plans by the City Planning Commission, and the holding of a public hearing <br />upon published notice as required by law. <br />1.04 The Council recognizes that, pursuant to Minnesota Statutes, Section 469.177, Subd. 3, <br />clause b, there is a mandatory fiscal disparities contribution for District No. 1-9, an economic development <br />district. <br />N: \M innsota\LINOLAKE\TIF 1-9\city_res. wpd <br />