HomeMy WebLinkAboutResolution No. 95-08 EDACITY OF
ILNO MF'S
LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 95 - 08
STATE OF MINNESOTA)
COUNTY OF ANOKA )
CITY OF LINO LAKES)
I, the undersigned, being the duly qualified and acting Clerk -
Treasurer of the City of Lino Lakes, Minnesota, do hereby certify
that I have carefully compared the attached and foregoing copy of
Resolution No. 95 - 08 with the original thereof on file in my
office, and the same is a full, true and complete copy insofar as
the same relates to:
ADOPTING THE PROGRAM FOR DEVELOPMENT DISTRICT NO. 3 AND THE PLAN
FOR TAX INCREMENT FINANCING DISTRICT NO. 3-1
Witness my hand as said Clerk -Treasurer and the Corporate Seal of
the City this 30th day of June, 1995.
Marilyn q Anderson, Clerk -Treasurer
SEAL
1189 MAIN STREET, LINO LAKES, MINNESOTA 55014 612-464-5562 FAX: 612-464-4568
Member Elliott
adoption:
introduced the following resolution and moved its
LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 95-08
RESOLUTION ADOPTING THE PROGRAM FOR
DEVELOPMENT DISTRICT NO. 3 AND THE PLAN FOR TAX
INCREMENT FINANCING DISTRICT NO. 3-1
BE IT RESOLVED by the Lino Lakes Economic Development Authority as
follows:
Section 1. Recitals.
1.01. The Lino Lakes Economic Development Authority (the "EDA") is
authorized under Minnesota Statutes, section 469.090 through 469.108 (the "EDA
Act") , and sections 469.174 through 469.179 (the "TIF Act") and sections 469.124
through 469.134 (the "City Development Districts Act") to establish development
districts and tax increment financing districts within the City in areas in which
private development has not occurred to a degree or within a time period which could
be anticipated in light of the area's potential.
1.02. The EDA has identified such an area in the eastern portion of the
community along the I -35E corridor.
1.03. In response to several developments proposal in the area, the Authority
has authorized the preparation of a development district program (the "Program")
and a tax increment financing plan (the "Plan") for a new development district (the
"Development District No. 3") and a new tax increment financing district ("Tax
Increment Financing District No. 3-1") . The Program and Plan are contained in a
document entitled "Development District Program, Development District No. 3 and
Tax Increment Financing Plan, Tax Increment Financing District No. 3-1, Lino Lakes
Economic Development Authority" dated June 29, 1995 which is on file with the
Authority.
Section 2. Authority Approval.
2.01. The Authority has reviewed the Program and the Plan. The Authority
finds that the objectives of the Authority and the City of encouraging development
and redevelopment within Lino Lakes will be advanced by adoption of the Program
and the Plan.
2.02. The Program and the Plan are hereby adopted by the Authority. The
boundaries of Development District No. 3 and of Tax Increment Financing District
No. 3-1 are as described in the Program and Plan.
Section 3. Further Proceedings.
3.01. It is noted that copies of the Plan were transmitted on May 31, 1995 to
the boards of Independent School District Nos. 12 and No. 624 and the board of
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commissioners of Anoka County for review and comment and that said public bodies
have been notified of the public hearing to be held on the Plan by the City.
3.02. The Authority requests the City to hold a public hearing on the Plan
as soon hereafter as is practicable and recommends that the Program and the Plan be
approved by the City.
Dated: June 29, 1995.
President
Executive Director
The motion for the adoption of the foregoing resolution was duly seconded by member
Neal
thereof:
and upon vote being taken thereon, the following voted in favor
Elliott, Neal, Bergeson, Reinert, Kuether
and the following voted against same:
Whereupon said resolution was declared duly passed and adopted.
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