HomeMy WebLinkAboutResolution No. 97-03 EDAMember K u P t h P r introduced the following resolution and moved its adoption:
LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 97-03
RESOLUTION ESTABLISHING PUBLIC HEARING FOR THE SALE OF PROPERTY
WHEREAS, the Lino Lakes Economic Development Authority (the "EDA") established Tax
Increment Financing District No. 1-7 ("TIF District No. 1-7") and adopted a tax increment
financing plan (the "TIF Plan") on May 22, 1995; and
WHEREAS, the EDA intends to modify the TIF Plan on March 24, 1997 to authorize
financial assistance to Fogerty Investments; and
WHEREAS, the financial assistance the EDA intends to offer to Fogerty Investments will
involve the sale of land owned by the EDA to Fogerty Investments at a reduced price.
NOW, THEREFORE BE IT RESOLVED by the Lino Lakes Economic Development
Authority as follows:
1. A public hearing shall be held on the 24th day of March, 1997 in order to consider the
sale of property to Fogerty Investments.
2. The executive director is hereby authorized and directed to cause notice of the public
hearing to be published in the official newspaper at least 10 days but not more than 20
days prior to the hearing.
3. Staff is authorized and directed to take all actions necessary and appropriate in order to
bring this item before the EDA at its meeting on the 24th day of March, 1997.
Dated: February 10, 1997
ATTEST:
Randall Schumacher, Executive Director
The motion for the adoption of the foregoing resolution was duly seconded by member
President
Neal and upon vote being taken thereon, the following voted in favor thereof.
Neal, Kuether, Lyden, Begeson, Landers
and the following voted against same:
Whereupon said resolution was declared duly passed and adopted.