HomeMy WebLinkAboutResolution No. 97-06 EDAMember Ncal introduced the following resolution and moved its
adoption:
LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 97-06
RESOLUTION AUTHORIZING PREPARATION OF A MODIFIED PROGRAM FOR
DEVELOPMENT DISTRICT NO. 1 TO EXPAND THE BOUNDARIES OF THE
DISTRICT AND TO ESTABLISH TAX INCREMENT FINANCING DISTRICT NO. 1-8
WHEREAS, on January 26, 1987 the city council of the City of Lino Lakes (the
"City") established Development District No. 1("Development District"); and
WHEREAS, the City established the Development District in order to promote
development within areas of the community which have not developed solely through
private efforts in a manner which is consistent with their prominence; and
WHEREAS, it has been proposed that the Development District Program be
modified to expand the boundaries and Tax Increment Financing District No. 1-8 be
established to assist improvements within the Development District pursuant to
Minnesota Statutes, sections 469.174 through 469.179 (the "TIF Act") and sections
469.124 through 469.134 (the "City Development District Act"); and
WHEREAS, the City has transferred authority for the Development District and
TIF Districts therein to the Lino Lakes Economic Development Authority (the "EDA");
NOW, THEREFORE, BE IT RESOLVED by the EDA as follows:
1. Staff and Kennedy & Graven, Chartered are hereby authorized and directed to
prepare a modified development district program (the "Program") for
Development District No. 1 and establish a Tax Increment Financing Plan (the
"Plan") for TIF District No. 1-8.
2. The executive director of the EDA is authorized and directed to schedule a
meeting on April 28, 1997 at 6 p.m. in the council chambers at city hall,
at which time the EDA will consider adoption of the modified Program for
Development District No. 1 and the Plan for TIF District No. 1-8.
3. The staff and consultants are authorized and directed to take any and all steps
necessary to bring the modified Program and Plan before the EDA at the April
28, 1997 meeting.
4. The City is urged to schedule a public hearing on the modified Program and
Plan to be held as soon after consideration of these matters by the EDA as
reasonably possible.
Dated: March 24, 1997
John L. Landers, President
ATTEST:
Randall Schumacher, Executive Director
The motion for adoption of the foregoing resolution was duly seconded by
member Lyden and upon vote being taken thereon, the following voted
in favor thereof:
Kuether, Neal, Lyden, Begeson, Landers
and the following voted against same:
Whereupon said resolution was declared duly passed and adopted.