HomeMy WebLinkAbout1993-096 Council ResolutionMember Kuether introduced the following resolution and moved its adoption:
CITY OF LINO LAKES
RESOLUTION NO. 96 - 93
RESOLUTION APPROVING MODIFICATION OF
TAX INCREMENT FINANCING PLAN FOR
TAX INCREMENT FINANCING DISTRICT NO. 1-4
BE IT RESOLVED by the City Council of the City of Lino Lakes, Minnesota as
follows:
Section 1. Recitals.
1.01. The City Council of the City of Lino Lakes ("City") approved a tax
increment financing plan ("Plan") for Tax Increment Financing District No. 1-4 on
March 26, 1990.
1.02. The City established the Lino Lakes Economic Development Authority
("Authority") in 1990 and transferred to it control of Tax Increment Financing
District No. 1-4.
1.03. Changes and additions to the public and private improvements to be
constructed in the project area has prompted the need for a modification of the Plan.
1.04. In response to these changes, the Authority and the City have
authorized the preparation of a modified Plan, which is contained in a document
entitled "Modified Tax Increment Financing Plan for Tax Increment Financing
District No. 1-4" dated December 13, 1993 and on file with the city clerk.
1.05. In accordance with Minnesota Statutes, sections 469.174 through
469.179 ("TIF Act") , the modified Plan was referred to the Lino Lakes planning
commission which on November 10 , 1993, found that it conforms to and is not in
conflict with the general plan for redevelopment of the City as a whole.
1.06. The Authority has also adopted the modified Plan for and referred it to
the City for public hearing and consideration as provided by the TIF Act.
1.07. Copies of the modified Plan have been forwarded to Centennial School
District and Anoka County along with a notice of a public hearing to be held by the
City on December 13, 1993.
1.08. The City has fully reviewed the contents of the modified Plan and has
this date conducted a public hearing thereon at which the views of all interested
persons were heard.
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Section 2. Findings; Tax Increment Financing District.
2.01. It is found and determined that it is necessary and desirable to the
sound and orderly development and redevelopment of the project area 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 provide public financial assistance within the project area.
2.02. It is further found and determined, and it is the reasoned opinion of the
City, that the redevelopment proposed in the modified 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 modified Plan conforms to the general plan for redevelopment of the
City as a whole.
2.04. The proposed public improvements to be financed largely through tax
increment financing are necessary to permit the City to realize the full potential of
the project area in terms of development intensity, employment opportunities and tax
base.
2.05. The modified Plan will afford maximum opportunity, consistent with the
sound needs of the City as a whole, for the redevelopment of the project area by
private enterprise.
Section 3. Approval of Modification; Filing.
3.01. The modified Plan is hereby approved. The modified Plan incorporates
by reference the original Plan except as the modified Plan explicitly or by reasonably
necessary implication conflicts with the original Plan.
3.02. The geographic boundaries of Tax Increment Financing District No. 1-4
are not affected by this modification and are as described in the original Plan.
3.03. The Authority is requested to file a copy of the modified Plan with the
Minnesota commissioner of revenue as required by the TIF Act.
3.04. The city clerk is authorized and directed to transmit a certified copy
of this resolution to the Authority.
DATED: December 13 , 1993.
ATTEST :
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Marhlyn Anderson
Clerk Treasurer
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Vernon F. Reinert, Mayor
The motion for the adoption of the foregoing resolution was duly seconded by member
Elliott.
and upon vote being taken thereon, the following voted in favor thereof: Bergeson,
Elliott, Kuether, Neal, Reinert.
and the following voted against same:
None.
Whereupon said resolution was declared duly passed and adopted.
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