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HomeMy WebLinkAbout1997-049 Council ResolutionMember Lyden introduced the following resolution and moved its adoption: CITY OF LINO LAKES RESOLUTION NO. 97 - 49. RESOLUTION APPROVING THE MODIFIED PROGRAM FOR DEVELOPMENT DISTRICT NO. 1 AND THE PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 1-8 BE IT RESOLVED By the City Council of the City of Lino Lakes, Minnesota (the "City") as follows: Section 1. Recitals. 1.01. The City Council of the City of Lino Lakes (the "City") established Development District No. 1 (the "Development District") and adopted a Development District Program (the "Program") for the same on January 26, 1987. 1.02. In 1990 the City transferred authority over the Development District to the Lino Lakes Economic Development Authority (the "EDA"). 1.03. Seven tax increment financing districts have previously been established within the Development District. 1.04. In response to new development and redevelopment proposals, the Authority has determined to establish another tax increment financing district within the Development District. 1.05. The Authority has investigated the facts and has caused to be prepared a Modified Program and a tax increment financing plan (the "Plan") for Tax Increment Financing District No. 1-8 ("TIF District No. 1-8") describing the assistance which may be provided for the benefit of and to encourage development and redevelopment within the Development District. 1.06. All actions required by law to be performed prior to the adoption of the modified Program and the Plan and establishment of TIF District No. 1-8 have been performed, including approval of the Program and the Plan by the Authority on April 28, 1997. 1.07. The Authority has notified Anoka County and Independent School District Nos. 12 and 831 of the public hearing on the Plan to be held before the City on April 28, 1997. 1.08. The modified Program and Plan are contained in a document entitled "Modified Development District Program, Development District No. 1 and Tax Increment Financing Plan, Tax Increment Financing District No. 1-8, Lino Lakes Economic Development Authority" dated April 28, 1997, which is on file at city hall. RHB121664 LN140-56 1.09. The Council has fully reviewed the contents of the modified Program and Plan and has on April 28, 1997 conducted a public hearing thereon at which the views of all interested persons were heard. Section 2. Findings Relating to the Modification of the Development District Program. 2.01. It is found that an additional portion of the community has not developed to a degree which its prominence in Lino Lakes would otherwise warrant solely through private efforts and that its inclusion within the Development District would be consistent with the reasons for establishing the Development District. 2.02. It is also found that the modification for the Program of Development District No. 1 would likely promote development of the area as a whole. 2.03. It is found that the Authority has the power and authority under Minnesota Statutes, sections 469.090-469.108 (the "EDA Act") and (the "TIF Act") to expand the boundaries of Development District No. 1 and to adopt the modified Program in order to promote such development. Section 3. Findings Relating to the Establishment of Tax Increment Financing District No. 1-8. 3.01. It is found and determined that it is necessary and desirable for the sound and \.. orderly development of the Development District and the community 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. 1-8. 3.02. It is further found and determined, and it is the reasoned opinion of the City, that the development and redevelopment projects proposed in the Plan for Tax Increment Financing District No. 1-8 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 projects. 3.03. The expenditures proposed to be financed through tax increment financing are necessary to permit the Authority and the City to realize the full potential of Development District No. 1 in terms of development intensity and tax base. 3.04. The Plan for Tax Increment Financing District No. 1-8 will afford maximum opportunity, consistent with the sound needs of the City as a whole, for development of the Development District by private enterprise. 3.05. The City has relied upon the opinions and recommendations of its staff, the Authority and the personal knowledge of the members of the city council in reaching its conclusions regarding the Plan and the establishment of Tax Increment Financing District No. 1- 8. In addition, the staff has reviewed the property to be included within Tax Increment Financing District No. 1-8 and prepared a report on the conditions of the buildings located thereon which RHB121664 LN140-56 establishes that Tax Increment Financing District No. 1-8 qualifies as a redevelopment tax increment district. 3.06. Tax Increment Financing District No. 1-8 is a redevelopment tax increment financing district within the meaning of Minnesota Statutes, section 469.174, subd. 10 (a) (1). Section 4. Approval of the Modified Development District Program and Tax Increment Financing Plan; Establishment of Tax Increment Financing District No. 1-8. 4.01. The modified Program for Development District No. 1 is hereby adopted subject to a finding by the planning and zoning commission that the modified Program is consistent with the City's comprehensive plan. 4.02. The expanded boundaries of Development District No. 1 are as described in the modified Program and incorporated herein by reference. 4.03. The Plan for Tax Increment Financing District No. 1-8 is hereby approved as adopted by the Authority. 4.04. Tax Increment Financing District No. 1-8 is hereby established. The boundaries of Tax Increment Financing District No. 1-8 are as described in the Plan and incorporated herein by reference. 1 . 4.05. The City elects for Tax Increment Financing District No. 1-8 to be treated as described in Minnesota Statutes, section 469.177, subd. 3(a) with regard to fiscal disparities. 4.06. The City elects to make a qualifying local contribution for Tax Increment Financing District No. 1-8 pursuant to Minnesota Statutes, section 273.1399, subd. 6(d). 4.07. 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 modified Program and 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. 1-8 be certified to the Authority and the City pursuant to section 469.177, subd. 1 of the TIF Act and to file a copy of the modified Program and the Plan for Tax Increment Financing District No. 1-8 with the Minnesota state auditor. 4.08. The City Administrator is authorized and directed to transmit a copy of this resolution to the Authority. DATED: April 28, 1997. L. Landers, Mayor RHB121664 LN140-56 ATTEST: Mar �n G. A derson, Clerk -Treasurer The motion for the adoption of the foregoing resolution was duly seconded by member Neal and upon vote being taken thereon, the following voted in favor thereof: Kuether, Lyden, Neal, Landers. and the following voted against same: None, Council Member Bergeson was absent. Whereupon said resolution was declared duly passed and adopted. RHB121664 LN140-56