HomeMy WebLinkAboutResolution No. 95-05 EDAMember Elliott introduced the following resolution and moved its adoption:
LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 95-05
RESOLUTION AUTHORIZING PREPARATION OF A
DEVELOPMENT DISTRICT PROGRAM FOR DEVELOPMENT
DISTRICT NO. 3 AND A TAX INCREMENT FINANCING
PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 3-1
WHEREAS, the portion of the city generally known as the Clearwater Creek area has not
developer solely through private efforts in a manner which is consistent with its prominence
within the city; and
WHEREAS, it appears that it will be necessary to utilize tax increment financing to assist
development in the area to achieve the type and scale of development which is appropriate; and
WHEREAS, it has been proposed that the Clearwater Creek area be included within a new
development district ("Development District No. 3") and be incorporated into a new tax
increment financing district ("TIF District No. 3-1 ") in order to offer assistance pursuant to
Minnesota Statutes, sections 469.174 through 469.179 (the "TIF Act").
NOW, THEREFORE, BE IT RESOLVED by the Lino Lakes Economic Development
Authority (the "EDA") as follows:
1. Staff and Holmes & Graven, Chartered are hereby authorized and directed to
prepare a development district program (the "Program") for Development District
No. 3 and a tax increment financing plan (the "Plan") for TIF District No. 3-1.
2. The executive director of the EDA is authorized and directed to schedule a
meeting on Thursday, June 29, 1995 at ' • 1 5 p.m. in the council chambers at
city hall, at which time the EDA will consider adoption of the Program and Plan
and the establishment of TIF District No. 3-1.
3. The staff and consultants are authorized and directed to take all steps necessary
to bring Program and the the Plan before the EDA at the June 29, 1995 meeting,
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including consultation with the Planning and Zoning Board regarding the
consistency of the Program and the Plan with general plans for development of
Lino Lakes as a whole.
4. The city council of the city of Lino Lakes (the "City") is urged to schedule a
public hearing on the proposed Program and Plan and TIF District to be held as
soon after consideration of these matters by the EDA as reasonably possible.
Dated: June 7, 1995.
President
Executive Director
The motion for the adoption of the foregoing resolution was duly seconded by member
Bergeson
and upon vote being taken thereon, the following voted in favor thereof:
Neal, Bergeson, Elliott, Reinert
and the following voted against same:
Whereupon said resolution was declared duly passed and adopted.
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