HomeMy WebLinkAboutResolution No. 97-10 EDAMember RPrgPson
adoption:
introduced the following resolution and moved its
LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 97-10
RESOLUTION AUTHORIZING PREPARATION OF A MODIFIED PROGRAM FOR
DEVELOPMENT DISTRICT NO. 1 AND TAX INCREMENT FINANCING PLANS FOR
TAX INCREMENT FINANCING DISTRICTS NO. 1-1 AND NO. 1-2
WHEREAS, on January 26, 1987 the city council of the City of Lino Lakes (the
"City") established Development District No. 1("Development District") and Tax
Increment Financing District No. 1-1 ("TIF District No. 1-1") therein;
WHEREAS, on December 27, 1988 the City established Tax Increment
Financing District No. 1-2 ("TIF District No. 1-2") within the Development District; and
WHEREAS, the City established the Development District and Tax Increment
Financing Districts 1-1 and 1-2 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 and
the TIF Plans be 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"); and
WHEREAS, the City has transferred authority for the Development District and
TIF Districts No. 1-1 and 1-2 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 modified tax increment financing Plans (the
"Plans") for TIF District No. 1-1 and TIF District No. 1-2.
2. The executive director of the EDA is authorized and directed to schedule a
meeting on October 13, 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 modified Plans for TIF District No. 1-1 and
TIF District No. 1-2.
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
October 13, 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: August 25, 1997
ATTEST:
2_„&
Randall Schumacher, Executive Director
John L. Landers, 'resident
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:
Lyden, Bergeson, Kuether, Neal, Landers
and the following voted against same:
None
Whereupon said resolution was declared duly passed and adopted.