HomeMy WebLinkAboutResolution No. 96-06 EDAr
Member
Kuether
introduced the following resolution and moved its adoption:
LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 96-06
RESOLUTION AUTHORIZING THE SALE OF PROPERTY
BE IT RESOLVED by the Lino Lakes Economic Development Authority as follows:
Section 1. Recitals
1.01. The Lino Lakes Economic Development Authority (the "Authority") approved a tax
increment financing plan (the "Plan") for the Tax Increment Financing District No. 1-7 (TIF
District No. 1-7) on May 22, 1995.
1.02. On May 22, 1995, the City Council of the City of Lino Lakes (the "City") approved
the Plan.
1.03. The EDA entered into a development agreement with Emergency Maintenance
Apparatus, (the "Developer") whereby the EDA agreed to purchase property legally described as
Lot 1, Block 1, Apollo Business Park, Anoka County, Minnesota (the "Property") from the City
for $43,680 and to resell it to the Developer for $38,026 subject to the EDA's compliance with
the requirements of Minnesota Statutes, section 469.105.
1.04. Pursuant to Minnesota Statutes. section 469.105, the EDA has held a public hearing
on the proposed sale of the Property to the Developer, following authorization to staff to publish
legal notice as required by law, at which hearing all persons wishing to express an opinion were
given an opportunity to do so.
Section 2. Findings.
2.01. It is hereby found and determined that the sale of the Property to the Developer is in
the best interest of the EDA.
2.02. It is hereby found and determined that the sale of the Property furthers the EDA's
general plan of economic development of the community.
Section 3. Authorization.
3.01. The President and Executive Director are hereby authorized and directed to execute
a quit claim deed and other appropriate documents to facilitate sale of the Property to the
Developer.
3.02. The President, Executive Director, staff and consultants are hereby authorized and
directed to take any and all other steps necessary or convenient in order to accomplish the sale of
the Property.
Dated: � �L C�� .. .V , 1996.
ATTE
Executive Director
President
The motion for the adoption of the foregoing resolution was duly seconded by member and upon
vote being taken thereon, the following voted in favor thereof:
Landers, Lyden, Neal, Kuether, Bergeson
and the following voted against same:
Whereupon said resolution was declared duly passed and adopted.