HomeMy WebLinkAbout1996-032 Council ResolutionMember Kuether introduced the following resolution and moved its adoption:
CITY OF LINO LAKES
RESOLUTION NO. 9 6 — 3 2
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. On March 26, 1990 the City Council of the City of Lino Lakes (the "City")
approved a tax increment financing plan (the "TIF Plan") for Tax Increment Financing District
No. 1-4 ("TIF District No. 1-4") within Development District No. 1.
1.02. The City established the Lino Lakes Economic Development Authority (the
"Authority") in June, 1990 and transferred to it control of TIF District No. 1-4.
1.03. On June 22, 1992 the Authority and the City acted to delete certain property from
TIF District No. 1-4 because it was unlikely to develop within a reasonable period of time.
1.04. Changes and additions to the public and private improvements to be constructed
in the project area prompted modifications of the TIF Plan on December 13, 1993 and June 12,
1995.
1.05. In recognition that much of the land within TIF District No. 1-4 is not likely to
develop within the reasonably foreseeable future, it is appropriate to modify the TIF Plan again
for the purpose of deleting most of the remaining land from the TIF District.
1.06. In response to these changes, the Authority and the City have authorized the
preparation of another modified TIF Plan which is contained in a document entitled "Modified
Tax Increment Financing Plan, Tax Increment Financing District No. 1-4" dated March 25, 1996,
and which is on file with the Authority.
1.07. Copies of the modified Plan have been forwarded to the Centennial and Forest Lake
school districts and Anoka County along with a notice of a public hearing to be held by the City
on March 25, 1996
1.08. The Authority has adopted the modified TIF Plan and referred it to the City for
public hearing and consideration as provided by the TIF Act.
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1.09. The City has fully reviewed the contents of the modified TIF Plan and has this date
conducted a public hearing thereon at which the views of all interested persons were heard.
Section 2. Findings; Modification of Plan.
2.01. It is found and determined that it is necessary and desirable to the sound and
orderly development and redevelopment of Development District No. 1 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.
2.02. It is further found and determined, that the objectives of the Authority and the City
of encouraging development and development within Development District No. 1 are not likely
to be realized within the reasonably foreseeable future with regard to the majority of land within
TIF District No. 1-4 and that the continued inclusion of such property within the TIF District is
not in the public interest.
2.03. The modified TIF Plan conforms to the general plan for development of the City
as a whole.
2.04. In order to accomplish the deletion of certain parcels from TIF District No. 1-4,
the Authority has authorized the preparation of this formal modification and has adopted this
modification in full compliance with the hearing and notice requirements of section 469.175,
subd. 4 of the TIF Act.
Section 3. Approval of Modification; Filing.
3.01. The modified TIF Plan is hereby approved. The modified Plan incorporates by
reference the original Plan and all subsequent modifications except as this modified Plan
explicitly or by reasonably necessary implication conflicts with the original Plan or previous
modifications.
3.02. The geographic boundaries of TIF District No. 1-4 are reduced as a result of this
modification and are as described in the modified TIF Plan.
3.03. The Authority is requested to file a copy of the modified Plan with the Minnesota
state auditor.
3.04. The clerk -treasurer is authorized and directed to transmit a certified copy of this
resolution to the Authority.
3.05. The Authority is authorized and directed to contact the Anoka county auditor and
request that the specified lands be deleted from TIF District No. 1-4 and that the original tax
capacity of TIF District No. 1-4 be adjusted in a manner consistent with this resolution and the
modified TIF Plan.
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DATED: March 26 , i99g
1'hST:
pi r
Maril n� erson,
.� / �•
lerk-Treasurer
. Landers, ayor
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: Bergeson, Kuether, Neal, Landers.
and the following voted against same: Council Member Lyden.
Whereupon said resolution was declared duly passed and adopted.
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