HomeMy WebLinkAboutResolution No. 98-06 EDAa 1�
LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY
CITY OF LINO LAKES
ANOKA COUNTY
STATE OF MINNESOTA
RESOLUTION NO. 9 8 — 0 6
RESOLUTION MODIFYING TAX INCREMENT FINANCING DISTRICT NO. 1-7
AND ADOPTING THE MODIFICATION TO THE TAX INCREMENT FINANCING
PLAN THEREFOR AND ESTABLISHING TAX INCREMENT FINANCING
DISTRICT NO. 1-9 WITHIN DEVELOPMENT DISTRICT NO. 1 AND ADOPTING
THE TAX INCREMENT FINANCING PLAN THEREFOR.
WHEREAS, the Board of Commissioners (the "Board") of the Economic Development Authority
(the "EDA)" for the City of Lino Lakes (the "City") has proposed to modify Tax Increment Financing District
No. 1-7 ("District No. 1-7") and adopt the Modification to the Tax Increment Financing Plan therefor and
establish Tax Increment Financing District No. 1-9 and adopt the Tax Increment Financing Plan therefor,
(collectively, the "Plans"), all pursuant to and in conformity with existing law, including Minnesota Statutes,
Sections 469.090 through 469.1081, and Sections 469.174 to 469.179, inclusive, as amended, all as reflected
in the Plans and presented for the Board's consideration. Generally, the Modification of District No. 1-7 is
to remove 14 parcels from District No. 1-7, as listed in Appendix II -A of the Modification to the Tax
Increment Financing Plan. Five of these parcels will be in Tax Increment Financing District No. 1-9 and are
,.•ft\ listed in Appendix III -C of the Tax Increment Financing Plan for District No. 1-9; and
WHEREAS, the EDA has investigated the facts relating to the Plans and has caused the Plans to be
prepared; and
WHEREAS, the proposed developments as described in the Plans, in the opinion of the EDA, would
not reasonably be expected to occur solely through private investment within the reasonable foreseeable
future and, therefore, the use of tax increment financing is deemed necessary; and
WHEREAS, the EDA has performed all actions required by law to be performed prior to the
adoption of the Plans, including but not limited to, notification of Anoka County and School District No. 12
having taxing jurisdiction over the property to be included in Tax Increment Financing District No. 1-9, a
request for review of and written comment on the Plans by the City Planning Commission, and a request that
the Council schedule a public hearing on the Plans upon published notice as required by law.
NOW, THEREFORE, BE IT RESOLVED by the Board as follows:
1. The EDA hereby reaffirms its previous findings with regards to District No. 1-7, namely that
the Modifications are in the public interest; that District No. 1-7 is an "economic development district" under
Minnesota Statutes, Section 469.174, subd. 12; and that the Modifications will advance the EDA's and City's
objectives to encourage development within Development District No. 1.
2. The EDA hereby finds that Tax Increment Financing District No. 1-9 is in the public interest
and is an "economic development district" under Minnesota Statutes, Section 469.174, subd. 12, and finds
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r1 that the adoption of the proposed Plans will advance the EDA's and City's objectives of encouraging
development within Development District No. 1.
3. Conditioned upon the approval thereof by the City Council following its public hearing
thereon, the Plans, as presented to the EDA on this date, are hereby approved, established and adopted and
shall be placed on file in the office of the City Clerk/Treasurer.
4. Upon approval of the Plans by the City Council, the staff, the EDA's advisors and legal
counsel are authorized and directed to proceed with the implementation of the Plans and for this purpose to
negotiate, draft, prepare and present to this Board for its consideration all further plans, resolutions,
documents and contracts necessary for this purpose. Approval of the Plans does not constitute approval of
any project or a Development Agreement with any developer.
5. The City Clerk/Treasurer is authorized and directed to forward a copy of the Modification
to Tax Increment Financing District No. 1-7 to the Anoka County Auditor and request that the Auditor
remove the parcels from District No. 1-7 and adjust the base tax values accordingly.
6. Upon approval of the Plans by the City Council, the Community Development Director is
authorized to forward a copy of the Plans to the Minnesota Department of Revenue pursuant to Minnesota
Statutes 469.175, subdivision 2.
7. The City Clerk/Treasurer is authorized and directed to forward a copy of the Plan for Tax
Increment Financing District No. 1-9 to the Anoka County Auditor and request that the Auditor certify the
original tax capacity of District No. 1-9 as described in the Plan, all in accordance with Minnesota Statutes
469.177.
Approved by the Board of Commissioners of the Lino Lakes Economic Development Authority this
1 4th day ofnpre,mhPr , 1998.
ATTEST:
Executive Diretor
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