HomeMy WebLinkAbout2003-155 Council ResolutionCITY OF LINO LAKES
RESOLUTION NO. 03-155
RESOLUTION CALLING FOR PUBLIC HEARING TO MODIFY DEVELOPMENT
DISTRICT NO. 1 AND TO ESTABLISH TAX INCREMENT FINANCING DISTRICT NO.
1-11
WHEREAS, the Lino Lakes Economic Development Authority (the "EDA") intends
to modify the program (The "Program") for Development District No. 1 (the "District"), and
to establish Tax Increment Financing District No. 1-11 ("TIF District No. 1-11") within the
District; and
WHEREAS, Minnesota Statutes, sections 469.174 through 469.179 (the "TIF Act")
and sections 469.124 through 469.134 (the "City Development District Act") requires that
the city council of the City of Lino Lakes (the "City") hold a public hearing on the
modification of the Program and the adoption of a Tax Increment Financing Plan ("TIF
District No. 1-11 Plan") for TIF District No. 1-11, following approval thereof by the EDA.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lino Lakes,
Minnesota as follows:
1. Springsted Inc. is authorized and directed to prepare a notice for publication in the
official newspaper setting a public hearing before the city council to consider this
matter on Monday, November 24, 2003 at 6:30 p.m. in the council chambers at city
hall. The notice shall be published in the newspaper at least 10 but not more than
30 days prior to the public hearing.
2. Springsted Inc. is hereby authorized and directed to notify Independent School
District No. 12 and Anoka County at least 30 days prior to the public hearing and to
invite their comments and on the modification of the Program and the
establishment of TIF District No. 1-11.
3. The city staff and consultants are authorized and directed to take any and all
— other actions necessary to bring this matter before the city council at the time
of the public hearing.
Dated: September 22, 2003
John J. Bergeson, Mayor
ATTEST:
Ann Blair, City Clerk
STAFF ORIGINATOR:
DATE:
TOPIC:
AGENDA ITEM 7E
Mary Alice Divine
9/22/03
Resolution No. 03-155 calling for a public hearing to Modify
Development District No. 1 and Establish Redevelopment
Tax Increment Financing District No. 1-11
BACKGROUND:
Hartford Group, Inc., is proposing to act as master developers of Woods Edge
(formerly known as the Village), a mixed-use town center project on the
southeast quadrant of 35W and Lake Drive. The land is zoned Limited Business
and is designated for mixed use in the Comprehensive Plan.
It is anticipated that development of this project will justify some public
expenditure. The project has not developed solely through private efforts and will
require public participation to develop in a manner consistent with the city's
goals.
The project area consists of approximately 30 acres of privately owned land (the
Tagg site) and approximately 11 acres of city -owned land. It is being proposed
that the Tagg site and the bridge portion of Lake Drive be established as a 25 -
year redevelopment TIF district (see attached map) to provide a source of
revenue for the Woods Edge project as well as improvements that will be
necessary to Lake Drive and the 35W bridge. Establishment of the district does
not constitute any commitment by the city to provide TIF.
Earlier tonight, the Lino Lakes Economic Development Authority (EDA)
considered preparation of a modified Plan for Development District No. 1 and
creation of Redevelopment Tax Increment Financing District No. 1-11. This
resolution calls for a public hearing on the matter to be scheduled on November
24, 2003. Once the plan is prepared, Anoka County and Centennial School
District will be sent a copy of the draft plan for review. The Planning & Zoning
board will also review the draft plan for its consistency with the city's
Comprehensive Plan.
OPTION
1. Adopt Resolution No. 03-155 calling for the public hearing.
2. Return to staff for further consideration
RECOMMENDATION:
Option 1