HomeMy WebLinkAbout2019-085 Council ResolutionCITY OF LINO LAKES, MINNESOTA
RESOLUTION NO. 19-85
RESOLUTION APPROVING TAX INCREMENT FINANCING PLAN FOR TAX
INCREMENT FINANCING (HOUSING) DISTRICT NO. 1-13
WHEREAS, the City of Lino Lakes, Minnesota (the "City") and the Lino Lakes Economic
Development Authority (the "Authority") have established, and the Authority administers, Development
District No. 1 (the "Development District") located within the City and have caused to be created a
Development Plan (the "Development Plan") therefor, pursuant to Minnesota Statutes, Sections 469.090
through 469.1082, as amended (the "EDA Act"); and
WHEREAS, within the Development District the City and the Authority have created certain tax
increment financing districts pursuant to Minnesota Statutes, Sections 469.174 through 469.1794, as amended
(the "TIF Act"); and
WHEREAS, the City and the Authority have determined to approve a tax increment financing plan
(the "TIF Plan") relating to the creation of a new tax increment financing district within the Development
District designated as the Tax Increment Financing (Housing) District No. 1-13 (the "TIF District"), all as
described in a plan document presented to the City Council of the City (the "City Council") on the date hereof;
and
WHEREAS, pursuant to Section 469.175, subd. 2a, of the TIF Act, the notice of public hearing for the
creation of the TIF Plan was provided to the county commissioner who represents the area included in the TIF
District at least 30 days before the publication of the notice; and
WHEREAS, pursuant to Section 469.175, subd. 2 of the TIF Act, the proposed 1'lh Plan and the
estimates of the fiscal and economic implications of the TIF Plan were presented to the School Board of
Independent School District No. 12 and to the County Board of Commissioners of Anoka County, Minnesota;
and
WHEREAS, on the date hereof, the City Council conducted a public hearing relating to the TIF Plan
and the establishment of the TIF District, at the views of all interested parties were heard at the public hearing;
and
that:
WHEREAS, the City Council has reviewed the contents of the TIF Plan; and
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lino Lakes, Minnesota
Section 1. Findings; TIF District.
1.01. It is found and determined that it is necessary and desirable for the sound and orderly
development of the Development District, and for the protection and preservation of the public health, safety,
and general welfare, that the authority of the TIF Act be exercised by the City to provide public financial
assistance to the TIF District and the Development District.
1.02. It is further found and determined, and it is the reasoned opinion of the City, that the
development proposed in the TIF Plan could not reasonably be expected to occur solely through private
investment within the reasonably foreseeable future.
1.03. The proposed development to be financed in part through tax increment financing will provide
the City with affordable housing for seniors.
1.04. The TIF Plan conforms to the general plan for development of the City as a whole.
1.05. The TIF Plan will afford maximum opportunity, consistent with the sound needs of the City
as a whole, for the development of the TIF District and the Development District by private enterprise.
1.06. The TIF District is a housing district under Section 469.174, subdivision 11 of the TIF Act.
1.07. The reasons and facts supporting all the above findings are set forth in the TIF Plan and are
incorporated herein by reference. The City Council has also relied upon the reports and recommendations of
its staff and consultants, as well as the personal knowledge of members of the City Council, in reaching its
conclusions regarding the TIF Plan.
Section 2. Public Purpose. The adoption of the TIF Plan conforms in all respects to the
requirements of the TIF Act. The TIF Plan will help facilitate an affordable housing development for seniors.
The City expressly finds that the tax increment assistance is provided solely to make the development
financially feasible and thus produce the public benefits described. Therefore, the City finds that the public
benefits of the TIF Plan exceed any private benefits.
Section 3. Approvals; Further Proceedings
3.01. The TIF Plan for the TIF District is hereby approved and adopted in substantially the form on
file at City Hall.
3.02. The City Council hereby transmits the TIF Plan to the Board of Commissioners of
the Authority (the "Board") and recommends that the Board adopt the TIF Plan.
3.03. Upon approval of the TIF Plan by the Board, the Authority is authorized and directed to file
a request for certification of the TIF District with the County Auditor of Anoka County, Minnesota and to file
a copy of TIF Plan with the Minnesota Commissioner of Revenue as required by the TIF Act.
Approved by the City Council of the City of Lino Lakes, Minnesota this 8th day of July, 2019.
The motion for adoption of the foregoing resolution was introduced by Council Member Manthey
and was duly seconded by Council Member Stoesz, and upon a vote bein taken thereon, the following
voted in favor thereof: Manthey, Stoesz Raff Reinert
The following voted against same: none
ATTEST:
Mayor
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