HomeMy WebLinkAboutResolution No. 97-15 EDAMember Bergeson introduced the following resolution and moved its adoption:
LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 97-15
RESOLUTION REQUESTING ANOKA COUNTY TO
DECERTIFY TAX INCREMENT FINANCING DISTRICT NO.
1-1
WHEREAS, the City Council of the City of Lino Lakes (the "City") established Tax
Increment Financing District No. 1-1 ("TIF District No. 1-1") on January 26, 1987; and
WHEREAS, administrative responsibility for TIF District No. 1-1 was transferred in 1990
from the City to the Lino Lakes Economic Development Authority (the "Authority"); and
WHEREAS, the Authority amended the plan for TIF District No. 1-1 on December 18,
1995 and again on October 13, 1997 to modify the budget; and
WHEREAS, the Authority believes that the objectives for which TIF District No. 1-1 was
created and maintained have now been accomplished; and
WHEREAS, the Authority intends to request that Anoka County decertify TIF District No.
1-1, effective December 31, 1997.
NOW, THEREFORE, BE IT RESOLVED by the Lino Lakes Economic Development
Authority as follows:
1. It is hereby found and determined by the Authority that the goals and objectives
for which TIF District No. 1-1 was established in 1987 have been fulfilled and
there is no longer a reason for the TIF District to remain in existence.
2. The Authority asks the City to join with it in requesting that Anoka County
decertify TIF District No. 1-1, effective December 31, 1997.
3. The Authority authorizes and directs City staff to transfer all funds from the
account of the TIF District prior to decertification of the TIF District, all in
accordance with the modified TIF plan adopted on this date.
RHB131364
LN140-43
4. The staff and consultants are hereby authorized and directed to take any and all
other actions which may be necessary to accomplish the intent of this resolution.
Dated: October 13, 1997.
ATTEST:
Randall Schumacher, Executive Director
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:
A. Neal, S. Kuether, J. Landers, J. Bergeson
and the following voted against same:
(Lyden absent)
Whereupon said resolution was declared duly passed and adopted.
RHB131364
LN140-43