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HomeMy WebLinkAbout26-002 - EDA Resolution - Approving Dev Dist No 2 and Econ Dev ProgramLINO 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 objectives contained therein, is hereby approved, established, and adopted and shall be placed on file in the office of the Executive Director of the Authority. 2.04. Authority staff and consultants are authorized to take all actions necessary to implement the Development Program. Adopted bythe Board of Commissioners of the Lino Lakes Economic Development Authority this 13tn day of April, 2026. JO ichael Ruhland, President ATTEST: rl Al Kare Anderson, Executive Director 2 4916-6450-5238.2 ECONOMIC DEVELOPMENT PROGRAM FOR DEVELOPMENT DISTRICT NO.2 LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY Adopted April 13, 2026 This document drafted by: KUTAK ROCK LLP (GAF) 60 South Sixth Street, Suite 3400 Minneapolis, Minnesota 55402 4896-5123-9318.1 ECONOMIC DEVELOPMENT PROGRAM FOR DEVELOPMENT DISTRICT NO.2 I. DEFINITIONS The terms defined below have, for purposes of this Economic Development Program, the meanings herein specified, unless the context specifically requires otherwise: "Authority" means the Lino Lakes Economic Development Authority. "Bond" means any tax-exempt or taxable bonds issued by the City or the Authority to finance the Public Costs of the Development District, and any obligations issued to refund such bonds. "City" means the City of Lino Lakes, Minnesota. "County" means Anoka County, Minnesota. "Development District" means Development District No. 2 of the Authority established hereby, as the same may be amended, the boundaries of which are generally illustrated in the map attached hereto as EXHIBIT A. "Development Program" means this Economic Development Program for the Development District, dated April 13, 2026, as it may be amended or supplemented from time to time. "BDA Act" means Minnesota Statutes, Sections 469.090 through 469.1082, as amended. "Project" means construction of a new public works building or other public facilities to promote development in cooperation with the City or any other development of public or private property, consistent with the needs of the City as a whole, to be constructed in the Development District. "Public Costs of the Development District" means all legally permissible costs incurred or to be incurred by or on behalf of the Authority in carrying out the Development Program, including but not limited to: (a) the costs of any public facilities, public infrastructure and development activities consistent with the Development Program as originally adopted or subsequently amended; (b) costs of administering the Development District; and (c) debt service payments and any costs related to any obligations issued to finance Public Costs of the Development District authorized by the Development Program. "State" means the State of Minnesota. H. STATEMENT OF NEED AND PUBLIC PURPOSE The Authority fmds that there is a need for development and redevelopment within the City and the Development District to provide employment opportunities, including construction jobs, to maintain and improve the local tax base, to provide public facilities, and to improve the general economy of the City and the State. The sound development of the economic security of the residents of the City depends upon proper development of marginal and other property, which includes property that meets any one of a number of conditions, including without limitation properties whose values are too low to pay for the public services required or rendered and properties whose lack of use or improper or obsolete use has resulted in stagnant or unproductive land that could otherwise contribute to the public health, safety, and welfare and tax base of the City. 4896-5123-9318.1 The Authority finds that certain existing public facilities are outdated or lack adequate space to serve the needs of the City's population. The most urgent public facilities need for the City is its public works facility. The current structure, built in 1971, was originally designed to house City Hall, Police, and administrative staff, not a public works operation for a City of Lino Lakes' current size. As the community has grown, so has the size of the vehicle fleet and the range of services the department provides. The existing facility no longer meets today's standards for efficiency, safety, or storage capacity, and many vehicles and pieces of equipment must be stored outside due to limited space. Having an effective and efficient public works facility will help the City respond efficiently to residents' public works needs and better serve the community. In addition, having an effective public works building within the Development District will allow the City to encourage development to stimulate future development of the City by providing access to public services and facilities to the citizens of and businesses in the City which will help the City maintain and expand the tax base. Each Project including the public works facility and future projects will be evaluated, from time to time, by the City and the Authority to determine that it is in the best interest of the health, safety and welfare of the City. Construction of a new public works building or other public facilities to promote development and redevelopment in cooperation with the City is anticipated to provide a stimulating effect for development of other parcels in the City by providing improved public works services in the City. The Authority specifically finds that the Development Program will afford maximum opportunity, consistent with the needs of the City as a whole, for the development of the City by private enterprise and that the Development Program shall conform to the general plan for the development of the City as a whole, subject to permitted variances or other exceptions as approved from time to time. The Authority also finds that the welfare of the City and the State requires the active promotion, retention, attraction, encouragement, and development of economically sound industry and commerce through governmental action for the purpose of preventing the emergence of blighted lands and areas of chronic unemployment. It shall also be the policy of the Authority to facilitate and encourage such action as may be necessary to prevent the economic deterioration of such areas to the point where the process can be reversed only by total redevelopment. Through the use of the powers conferred on the Authority pursuant to the EDA Act, promoting economic development may prevent the occurrence of conditions requiring redevelopment and prevent the emergence of blight, marginal land, and substantial and persistent unemployment. M. STATUTORY AUTHORITY Pursuant to the EDA Act, the Authority is authorized to exercise the powers of an economic development authority and the powers of a municipal housing and redevelopment authority established under Minnesota Statutes, Sections 469.001 through 469.047, as amended. It is the intention of the Authority, notwithstanding the enumeration of specific goals and objectives in the Development Program, that the Authority shall have and enjoy with respect to the Development District the full range of powers and duties conferred upon the Authority pursuant to the EDA Act and such other legal authority as the Authority may have or enjoy from time to time. The Authority is authorized under the EDA Act to undertake and administer the Development Program and the Development District, and to finance Public Costs of the Development District through project revenues and, if applicable, the issuance of Bonds as necessary and appropriate. IV. STATEMENT OF OBJECTIVES The Authority seeks to accomplish the following general objectives within the Development District through this Development Program: A. Promote the prompt development and redevelopment of property within the Development District in a manner consistent with the City comprehensive plan, which property is currently less productive 2 4896-5123-9318.1 because of substandard conditions, incompatible or obsolete uses, and lack of adequate public and community services. B. Promote the development of adequate public facilities necessary to serve the Development District and the City as whole, including without limitation the development of a new public works building or other public facilities to promote development in cooperation with the City C. Promote the concentration of appropriate commercial and residential development within the Development District in order to enhance the City's tax base. D. Promote and secure additional employment opportunities, including construction jobs, within the Development District and the City for residents of the City and the surrounding area, which would thereby improve living standards and prevent unemployment and the loss of skilled labor and other human resources in the City; E. Spur economic development to secure an increase in taxable market valuations in order to better enable the City and other taxing jurisdictions to pay for public improvements and governmental services and programs required to be provided by them; and F. Construct, acquire or finance any public facilities, including a new public works facility and other public facilities, sanitary sewer, water, storm drainage and roads, deemed necessary and desirable for the development or redevelopment of the Development District. G. Assist in development or redevelopment of the Development District through provision of public services, demolition, soil and terrain corrections or site improvements, or land acquisition, all in cases deemed appropriate by the Authority. H. Employ any powers of the Authority under the EDA Act for the benefit of the Development District in such cases and upon such terms as the Authority may deem appropriate. V. DEVELOPMENT DISTRICT The Development District boundaries are coterminous with the boundaries of the City and are illustrated in the map attached hereto as EXHIBIT A. VI. PROPERTY ACQUISITION The Authority may acquire such property, or interests therein, as the Authority may deem necessary or desirable to carry out the objectives of the Development Program. The Authority may hold and dispose of the property in accordance with the EDA Act. VII. DEVELOPMENT DISTRICT FINANCING The Authority may use revenues from any source available to it to pay any Public Costs of the Development District. As authorized by law, the Authority may finance certain Public Costs of the Development District related to a Project primarily through the issuance of lease revenue obligations in connection with which the Authority may acquire a leasehold interest in the property on which the Project will be located, lease such facilities back to the City, and pledge the lease revenues from the City to pay debt service on certain Bonds of the Authority. In addition, as authorized by law, the Authority may finance certain Public Costs of the Development District primarily through the issuance of revenue obligations secured by one or more other revenues available to the Authority, including without limitation Authority general revenues, specific facility rents and charges, tax increment financing or any other revenues available to the Authority. 4896-5123-9318.1 EXIHBIT A MAP OF DEVELOPMENT DISTRICT NO.2 Legend LC OFDevelopment District No. 2K3/18/2026 4896-5123-9318.1 A_ 1