HomeMy WebLinkAbout2003-209 Council ResolutionCITY OF LINO LAKES
RESOLUTION NO. 03-209
RESOLUTION MODIFYING DEVELOPMENT DISTRICT
NO. 1 AND ESTABLISHING TAX INCREMENT
FINANCING DISTRICT NO. 1-11
WHEREAS, the Economic Development Authority (the "Authority") for the City
of Lino Lakes (the "City") has proposed to modify the Program (the "Program") for
Development District No. 1 ("District") and to establish Tax Increment Financing District
No. 1-11 ("TIF District") and adopt the Tax Increment Financing Plan (the "Plan")
therefore, all pursuant to and in conformity with existing law, including Minnesota
Statutes, Sections 469.090 through 469.1081 ("EDA Act"), and Sections 469.174 to
469.179, inclusive ("TIF Act"), all as reflected in the Program and Plan and presented for
the Authority's consideration.
WHEREAS, the City has investigated the facts relating to the modification of the
Program and the establishment of the Plan, and has caused to be prepared a "Modified
Development Program, Development District No.1 and a "Tax Increment Financing Plan
for Tax Increment Financing (Redevelopment) District No. 1-11"; and
WHEREAS, the Authority and City have performed all actions required by law to
be performed prior to the adoption of the modified Program and the Plan, including but
not limited to notification of Anoka County and School District No. 831 having taxing
jurisdiction over the property to be included in the TIF District, a request for review of
and written comment on the Plan by the City Planning & Zoning Board, and a request
that the Council schedule a public hearing on the Plan upon published notice as required
by law; and
WHEREAS, the Authority has approved the Program and the Plan and
recommended approval by this Council.
NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Lino
Lakes as follows:
Section 1. Findings; Development District.
1.01. It is hereby found and determined that within the District there is a need to
improve the tax base and employment opportunities, and to provide an impetus for
commercial development.
1.02. It is further found and determined that, since initial establishment of the
Districts, development and redevelopment needs have changed in certain parts of the
City.
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1.03. It is further specifically found and determined that the development
described in the Program as modified would not be feasible without the public
intervention and financial assistance described in the modified Program and Plan.
Section 2. Findings; TIF District No.1-11.
2.01. It is found and determined that it is necessary and desirable for the sound
and orderly development of the 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 Development
District.
2.02. The proposed development, in the opinion of the City, would not
reasonably be expected to occur solely through private investment within the reasonably
foreseeable future and the increased market value of the site that could reasonably be
expected to occur without the use of tax increment financing would be less than the
increase in the market value estimated to result from the proposed development after
subtracting the present value of the projected tax increments for the maximum duration of
the TIF District permitted by the TIF Plan.
2.03. The Plan conforms to the general plan for the development of the City as a
whole.
2.04. The 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 District by
private enterprise.
2.05. The TIF District is a redevelopment development district under Section
469.174, Subd. 10 of the TIF Act.
2.06. Reasons and facts supporting the above findings are set forth in the Plan
and are incorporated herein by reference. The Council has also relied upon the reports
and recommendations of its staff and consultants as well as the personal knowledge of
members of the Council in reaching its conclusions regarding the modified Program and
the Plan.
Section 3. Approvals; Further Proceedings.
3.01. The Program and the Plan are hereby approved in substantially the forms
on file in City Hall.
3.02. The Community Development Director is authorized to forward a copy of
the Program and the Plan to the Office of the State Auditor pursuant to Minnesota
Statutes 469.175, subd. 2.
3.03. The City Clerk is authorized and directed to forward a copy of the Plan to
Anoka County and request that the Auditor certify the original tax capacity of the TIF
District as described in the Plan, all in accordance with Minnesota Statutes 469.177.
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DATED: Ao etm,62, a4 , 2003
ATTEST:
City Clerk
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Mayor