HomeMy WebLinkAbout1993-015 Council ResolutionMember Elliott introduced the following resolution and moved its
`- adoption:
CITY OF LINO LAKES
RESOLUTION NO. 15 - 93
RESOLUTION APPROVING A TAX INCREMENT FINANCING PLAN
FOR TAX INCREMENT FINANCING DISTRICT NO. 1-5
BE IT RESOLVED By the City Council (the "Council") of the City of Lino
Lakes, Minnesota (the "City") as follows:
Section 1. Recitals.
1.01. On January 26, 1987, the City adopted a Development Program for
Development District No. 1, pursuant to and in accordance with Minnesota Statutes,
sections 469.124 through 469.134.
1.02. Since 1987, the City has established four tax increment financing
districts within Development District No. 1 pursuant to the provisions of Minnesota
Statutes, sections 469.174 through 469.179.
1.03. The City has subsequently transferred authority regarding economic
development within Lino Lakes, including administration of Development District No.
1, to the Economic Development Authority (the "Authority") .
1.04. It has been proposed that the Authority establish a fifth tax increment
district to assist in a senior housing project within Development District No. 1.
1.05. The Authority has investigated the facts and has caused to be prepared
a Tax Increment Financing Plan ("Plan") for Tax Increment Financing District No.
1-5 describing the assistance which may be provided for the benefit of and to
encourage development of the new project.
1.06. All actions required by law to be performed prior to the approval of the
Plan have been performed, including, but not limited to, a review of the Plan by the
planning and zoning board its consistency with the general plans for development
of the City, and approval of the Plan by the Authority on December 14, 1992.
1.07. The Authority has notified Anoka County and Independent School
District No. 12 of the public hearing to be held before the Council.
1.08. The Plan is contained in a document entitled "Tax Increment Financing
Plan, Tax Increment Financing District No. 1-5, Economic Development Authority,
City of Lino Lakes, Minnesota" dated December 28, 1992, and is on file at city hall.
1.09. The Council has fully reviewed the contents of the Plan and has on
December 28, 1992; January 25, 1993; and March 22, 1993 conducted a public hearing
thereon at which the views of all interested persons were heard.
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Section 2. Findings Relating to the Establishment of Tax Increment
�-- Financing District No. 1-5.
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 Authority and the City to establish
Tax Increment Financing District No. 1-5.
2.02. It is further found and determined, and it is the reasoned opinion of the
City, that the senior housing project proposed in the Plan for Tax Increment
Financing District No. 1-5, 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 to assist the project.
2.03. The 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 and tax base.
2.04. The Plan for Tax Increment Financing District No. 1-5 will afford
maximum opportunity, consistent with the sound needs of the City as a whole, for
the development of the tax increment financing district by private enterprise.
2.05. The Council has relied upon the opinions and recommendations of its
staff, the Authority and the 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 Tax Increment Financing District No. 1-5.
2.06. Tax Increment Financing District No. 1-5 is a housing tax increment
financing district within the meaning of Minnesota Statutes, section 469.174, Subd.
11.
Section 3. Approval of the Tax Increment Financing Plan; Establishment of
Tax Increment Financing District No. 1-5.
3.01. The Plan for Tax Increment Financing District No. 1-5 is hereby
approved as adopted by the Authority.
3.02. Tax Increment Financing District No. 1-5 is hereby established. The
boundaries of Tax Increment Financing District No. 1-5 are as described in the Plan
and incorporated herein by reference.
3.03. The Executive Director of the Authority 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 Tax Increment Financing District No. 1-5 be certified to the
Authority and the City pursuant to section 469.177, Subd. 1 of the Tax Increment
Financing Act and to file a copy of the Plan for Tax Increment Financing District No.
1-5 with the Minnesota department of revenue.
3.04 The City Administrator is authorized and directed to transmit a copy of
this resolution to the Authority.
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DATED: March 22, 1993.
ATTEST:
117/ A\Le
Marilyn G jAndtrron, Clerk -Treasurer
Vernon F. Reinert, Mayor
The motion for the adoption of the foregoing resolution was duly seconded by member
Bergeson and upon vote being taken thereon, the following
voted in favor thereof:
Elliott, Kuether, Bergeson, Reinert.
and the following voted against same: None, Council Member Neal abstained.
Whereupon said resolution was declared duly passed and adopted.
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