HomeMy WebLinkAboutResolution No. 98-05 EDAMember Bergeson
adoption:
introduced the following resolution and moved its
LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 98-05
RESOLUTION AUTHORIZING PREPARATION OF A MODIFIED PROGRAM
FOR DEVELOPMENT DISTRICT NO. 1;
A MODIFIED PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 1-7
AND A PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 1-9
WHEREAS, on January 26, 1987 the city council of the City of Lino Lakes (the
"City") established Development District No. 1 ("Development District") and
adopted a program ("The Program") for same; and
WHEREAS, the area of the city within the Development District and previously
established as Tax Increment Financing District No. 1-7 ("TIF District No. 1-7"),
generally known as the Apollo Business Center and Lakes Business Park has not
developed solely through private efforts in a manner which is consistent with its
prominence within the city and which justifies the public expenditures for
infrastructure improvements which have been made; and
WHEREAS, it appears that it will be necessary to utilize tax increment financing to
assist in the area to achieve the purpose for which the business parks were
established; and
WHEREAS, it has been proposed that the following parcels:
17-31-22-23-0012
17-31-22-32-0004
18-31-22-41-0008
18-31-22-41-0009
18-31-22-42-0002
currently within Tax Increment Financing District No. 1-7 be deleted from the
District and incorporated into a new tax increment financing district ("TIF District
No. 1-9") in order to offer developers assistance pursuant to Minnesota Statutes,
sections 469.174 through 469.179 ("The TIF Act").
NOW, THEREFORE, BE IT RESOLVED by the Lino Lakes Economic Development
Authority (the "EDA") as follows:
1. Ehlers & Associates, Inc. is hereby authorized and directed to prepare a
modified program for Development District No. 1, a modified Plan for TIF
District No. 1-7 and a tax increment financing Plan for TIF District No. 1-9.
2. The executive director of the EDA is authorized and directed to schedule a
meeting on December 14, 1998 at 6 p.m. in the council chambers at city hall,
at which time the EDA will consider adoption of the modified Program for the
Development District the modified Plan for TIF District No. 1-7 and a Plan for
TIF District No.1-9.
3. The staff and consultants are authorized and directed to take any and all steps
necessary to bring the modified Program and the Plans before the EDA at the
December 14, 1998 meeting.
4. The City is urged to schedule a public hearing on the modified Program and the
Plans to be held as soon after consideration of these matters by the EDA as
reasonably possible.
Dated: October 26, 1998
ATTEST:
The motion for adoption of the foregoing resolution was duly seconded by
member NPa 1 and upon vote being taken thereon, the following voted
in favor thereof:
Bergeson, Neal, Sullivan
and the following voted against same:
Lyden, Dahl
Whereupon said resolution was declared duly passed and adopted.