26-2 - EDA Resolution - Approving Dev Dist No 2 and Econ Dev Program

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LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY EDA RESOLUTION NO.26-02 RESOLUTION APPROVING AN DEVELOPMENT DISTRICT NO. 2 AND AN ECONOMIC DEVELOPMENT PROGRAM THEREFOR BE IT RESOLVED By the Board of Commissioners (the "Board") of the Lino Lakes Economic Development Authority (the "Authority") as follows: Section 1. Recitals. 1.01. The Authority has proposed to establish Development District No. 2 (the "Development District"), an economic development district, that is coterminous with the boundaries of the City of Lino Lakes, Minnesota (the "City") and to approve an Economic Development Program for Development District No. 2 (the "Development Program") therefor, pursuant to Minnesota Statutes, Sections 469.090 through 469.1082, as amended (the "EDA Act"). 1.02. The Authority has investigated the facts relating to the establishment of the Development District and the adoption of the Development Program and has caused the Development Program to be prepared. 1.03. On the date hereof, the Board conducted a duly noticed public hearing regarding the establishment of the Development District and the approval of the Development Program in accordance with the EDAAct. Section 2. Approvals. 2.01. The Board hereby finds that (a) the Development District is proper and desirable to establish and develop within the City; (b) the Development District is in the public interest because it will help facilitate various economic development and redevelopment projects throughout the City, including without limitation the construction of a new public works building or other public facilities to promote development in cooperation with the City; and (c) the effect of the Development District will be to carry out the objectives of the Development Program by providing public facilities in the City, will afford the maximum opportunity, consistent with the needs of the City as a whole, for the development of underutilized property by private enterprise, and will otherwise promote certain public purposes and accomplish certain objectives as specified in the Development Program. The Development Program is hereby incorporated into this resolution by reference. 2.02. The Authority intends that it shall have and enjoy, with respect to the Development District, the full range of powers and duties conferred upon the Authority pursuant to the Development Program, the EDA Act, and such other legal authority as the Authority may have or enjoy from time to time. 2.03. The Development District is hereby established and the Development Program, as presented to the Board on this date, including without limitation the findings and statements of 4916-6450-5238.2