Loading...
HomeMy WebLinkAbout1989-068 Council ResolutionMember Bohjanen adoption: introduced the following resolution and moved its CITY OF LINO LAKES RESOLUTION NO. 68 - 89 RESOLUTION APPROVING A TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO.1-3 BE IT RESOLVED By the City Council of the City of Lino Lakes, Minnesota, as follows: Section 1. Recitals. 1.01. The City of Lino Lakes (City) approved the creation of Development District No. 1 (District) and adopted a program (Program) for the District in accordance with Minn. Stat. Sections 469.124 through 462.134 (Development District Act) on January 26, , 1987. 1.02. The City has previously approved the creation of two tax increment financing districts within the District and adopted plans for the TIF districts pursuant to Minn. Stat. Sections 469.174 through 469.179 (TIF Act). 1.03. The City has determined to create a third tax increment financing district within the District (TIF District No. 1-3) in order to promote development of an area of the City which is in need of redevelopment. 1.04. The City Council has authorized the preparation of a plan (Plan) for TIF District No. 1-3 which is contained in a document entitled "Tax Increment Financing Plan, Tax Increment Financing District No. 1-3, City of Lino Lakes, Minnesota," dated September 25, 1989. 1.05. Copies of the Plan have been forwarded to Independent School District No. 831 and to Anoka County along with a notice of the public hearing as required by the TIF Act. 1.06. The City's planning and zoning board has reviewed the Plan and on August 23 , 1989, found the Plan to be consistent with the City's general plans for development. 1.07. The City Council has fully reviewed the contents of the Plan and has this date conducted a public hearing thereon at which the views of all interested persons were heard. Section 2. Findings; Tax Increment Financing District. 2.01. It is found and determined that it is necessary and desirable for the sound and orderly development of the District and the City as a whole, 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 District. 2.02. It is further found and determined, and it is the reasoned opinion of the City, that the development proposed in the Plan could not reasonably be expected to occur solely through private investment within the reasonably foreseeable future and that therefore the use of tax increment financing is necessary. 2.03. The land acquisition and other expenditures proposed to be financed through tax increment financing are necessary to permit the City to realize the full potential of the District in terms of development intensity, employment opportunities and tax base. 2.04. The Plan will afford maximum opportunity, consistent with the sound needs of the City as a whole, for the development of TIF District No. 1-3 by private enterprise. 2.05. The City Council has relied upon the opinions and recommendations of its staff and planning and zoning board and the personal knowledge of the members of the council in reaching its conclusions regarding the Plan and the establishment of TIF District No. 1-3. 2.06. Based upon an investigation and report by city staff and on file with the city administrator, the City Council finds that TIF District No. 1-3 is a redevelopment tax increment financing district within the meaning of Section 469.174, subd. 10(a)(2) of the TIF Act. Section 3. TIF District Established; Certification; Filing. 3.01. The Plan for TIF District No. 1-3 is hereby approved and adopted. TIF District No. 1-3 is hereby established. 3.02. The geographic boundaries of TIF District No.1-3 are as described in the Plan, which is hereby adopted by reference. 3.03. The city clerk is authorized and directed to transmit a certified copy of this resolution together with a certified copy of the Plan to the auditor of Anoka County with a request that the original tax capacity of the property within TIF District No. 1-3 be certified to the City pursuant to Section 469.177, Subd. 1 of the TIF Act and to file a copy of the Plan with the Minnesota commissioner of revenue as required by the TIF Act. 2 3.04. With respect to Minnesota Statutes, Chapter 473F, the City elects TIF District No. 1-3 to be treated under the provisions of Section 469.177, Subd. 3(b) of the TIF Act. The motion for the adoption of the foregoing resolution was duly seconded by member Bisel and upon vote being taken thereon, the following voted in favor thereof: Neal, Bohjanen, Bisel, Reinert and Mayor Benson and the following voted against same: none Whereupon said resolution was declared duly passed and adopted by the Lino Lakes • City Council this . day of ATTEST: )2/ Maril , 1989. CITY OF LINO LAKES i0.111,0 ts`►/_ir :enjamm` Benson, .''•yor J m G. derson, City Clerk -Treasurer LN140-1