HomeMy WebLinkAbout2011-076 Council Resolution•
Council Member Roeser introduced the following resolution and moved its
adoption:
CITY OF LINO LAKES
COUNTY OF ANOKA
RESOLUTION NO. 11 -76
RESOLUTION CALLING FOR A PUBLIC HEARING ON THE
MODIFICATION OF THE DEVELOPMENT PROGRAM FOR
DEVELOPMENT DISTRICT NO. 1 AND MODIFICATION OF
THE TAX INCREMENT FINANCING PLAN FOR TAX
INCREMENT FINANCING DISTRICT NO. 1 -10
WHEREAS, the City of Lino Lakes ( "City ") and the Lino Lakes Economic
Development Authority (the "Authority ") created and administer Development District No.
1 (the "Development District ") under Minnesota Statutes, Sections 469.124 to 469.134 (the
"Municipal Development Act: "); and
WHEREAS, within the Development District, the Authority and City previously
established Tax Increment Financing District No. 1 -10 (the "TIF District ") pursuant to
Minnesota Statutes, Sections 469.174 to 469.1799 (the "TIF Act: "); and
WHEREAS, under 2011 Minnesota Laws, Ch. 112, Art. 11, Section 18 (the "Special
Law "), the Authority is authorized to collect tax increments from the TIF District through
December 31, 2023 and use such increments to pay debt service on bonds issued to finance
the interchange of Anoka County Highway 23 and Interstate 35W, and bonds issued to
finance public improvements serving the development known as Legacy at Woods Edge;
and
WHEREAS, the City Council has determined to modify the tax increment financing
plan for the TIF District in order to implement the Special Law, and to hold a public hearing
thereon in accordance with the TIF Act.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lino
Lakes, that:
1. The Council hereby ratifies actions by City staff and consultants to prepare a
modified Development Program for the Development District and a modification to the TIF
Plan for the TIF District (together, the "Plans "), and to arrange for distribution of the draft
Plans to the Anoka County Board and the school board for Independent School District No.
12 at least 30 days before the hearing.
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2. The City Clerk is authorized and directed to prepare a notice for publication
in the City's official newspaper setting a public hearing regarding the Plans before the City
Council on August 22, 2011, at 6:30 p.m. in the council chambers. The notice shall be
published in the newspaper at least 10 but not more than 30 days prior to the public hearing,
and shall include a map of the Development District and the TIF District.
3. City staff and consultants are authorized and directed to take all other actions
necessary to bring the Plans before the City Council at the time of the public hearing.
Approved by the City Council of the City of Lino Lakes this 25th day of July, 2011.
ATTEST:
Adopted by the Lino Lakes City Council this 25th day of July, 2011.
The motion for the adoption of the foregoing resolution was duly seconded by Council
MembeiRaf f erty and upon vote being taken thereon, the following voted in favor
thereof:
Roeser, Rafferty, Reinert, Gallup, O'Donnell
The following voted against same:
none
Whereupon said resolution was declared duly passed and adopted.
MAP OF TAX INCREMENT FINANCING
(ECONOMIC DEVELOPMENT) DISTRICT NO. 1 -10
Tax Increment Financing (Economic
Development) District No. 1 -10
SERUM
TIF District No. 1 -10
/ 7- v- 22.-24-0-0,,Z
/ 7- 3/.27- 3Z G' W _
/7 -3 /. 22 32.c°
Includts ad street uti ri jAttaf-WAtj s.
Prepared by: Springsted Incorporated
City of Lino Lakes, Minnesota
Page 3
TIF District No. 1 -10
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AGENDA ITEM 6B
STAFF ORIGINATOR: Mary Divine
CC MEETING DATE: July 25, 2011
TOPIC: Resolution No. 11 -76: Calling for a Public Hearing on
the Modification of the Development Program for
Development District No. 1 and Modification of the
Tax Increment Financing Plan for Tax Increment
Financing District No. 1 -10
VOTE REQUIRED: 3/5
Background
The State Legislature approved special legislation this session authorizing the City of
Lino Lakes to collect tax increments from TIF District No. 1 -10 through December 31,
2023 and use the increments to pay debt service on bonds issued to finance the Lake
Drive /I -35W interchange and bonds issued to finance public improvements serving the
development known as Legacy at Woods Edge.
The Lino Lakes City Council, Anoka County Board and Centennial School Board have
• approved the special legislation. In order to implement the special legislation the city
must modify the Development District and TIF District 1 -10 to reflect the extended
duration and modification of the district's budget. The modification of a TIF district
requires a public hearing.
Recommendation
Staff recommends approval of the Resolution No. 11 -76 calling for a public hearing on
August 22, 2011.
Attachments
1. Resolution No. 11 -76
2. Map of TIF District 1 -10
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