HomeMy WebLinkAboutResolution No. 97-08 EDAMember KI]Pj'} r introduced the following resolution and moved its adoption:
LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 97-08
RESOLUTION ADOPTING A MODIFIED PROGRAM FOR DEVELOPMENT DISTRICT
NO. 1 AND A PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 1-8
BE IT RESOLVED by the Lino Lakes Economic Development Authority as follows:
Section 1. Recitals.
1.01. The City Council of the City of Lino Lakes (the "City") established Development
District No. 1 ("the Development District") on January 26, 1987.
1.02. The City established the Development District in order to promote development
within areas of the city which have not developed solely through private efforts in a manner
consistent with their prominence.
1.03. The City established the Lino Lakes Economic Development Authority (the
"Authority") in 1990 and conferred upon it responsibility for economic development within Lino
Lakes.
1.04. In the past the Development District Program (the "Program") has been modified 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").
1.05. In response to a development proposal, the Authority has authorized the preparation
of a modification of the Program for Development District No. 1 and drafting a Tax Increment
Financing Plan (the "TIF Plan") for Tax Increment Financing District No. 1-8 (the "TIF District"),
which are contained in a document entitled "Modified Development District Program,
Development District No. 1 and Tax Increment Financing Plan, Tax Increment Financing District
No. 1-8," dated April 28, 1997 and on file with the Authority.
Section 2. Authority Approval.
2.01. The Authority finds that the objectives of the Authority and the City of encouraging
development and redevelopment within the Development District will be advanced by adoption of
the modified Program and the Plan.
2.02. The modified Program and the Plan are hereby adopted by the Authority subject to a
' finding by the planning and zoning commission that the modified Program is consistent with the
City's comprehensive plan.
Section 3. Further Proceedings.
3.01. It is noted that copies of the modified Program and the Plan have been transmitted to
the boards of Independent School District No. 12 and Independent School District No. 831 and
the board of commissioners of Anoka County for review and comment and that said public bodies
have been notified of the hearing to be held on the modified Program and Plan by the City.
3.02. The Authority requests that the City hold a public hearing on the modified Program
and the Plan pursuant to Minnesota Statutes, section 469.175 as soon hereafter as is practicable
and recommends that the modified Program and Plan be approved by the City.
3.03. Upon approval of the modified Program and the Plan by the City, the Authority's
executive director is authorized and directed to file a copy of the modified Program and the Plan
with the Minnesota state auditor. The executive director is also authorized and directed to contact
the Anoka County auditor and request that the original tax capacities of the parcels within TIF
District No. 1-8 be certified to the Authority..
Adopted by the Lino Lakes Economic Development Authority, Lino Lakes, Minnesota
this 28th day of April , 1997.
ATTEST:
Randall Schumacher, Executive Director
John L. Landers, President
The motion for the adoption of the foregoing resolution was duly seconded by member
Neal and upon vote being taken thereon, the following voted in favor thereof:
Kuether, Neal, Lyden, Landers
and the following voted against same:
Whereupon said resolution was declared duly passed and adopted.