Laserfiche WebLink
CITY OF PEQUOT LAKES <br /> CROW WING COUNTY <br /> STATE OF MINNESOTA <br /> Council member D. Misener introduced the following resolution and moved its adoption: <br /> RESOLUTION NO. <br /> RESOLUTION ESTABLISHING WITHIN DEVELOPMENT DISTRICT NO.1 TAX <br /> INCREMENT FINANCING DISTRICT NO. 1-4 AND ADOPTING THE RELATED <br /> TAX INCREMENT FINANCING PLAN THEREFOR. <br /> BE IT RESOLVED by the City Council(the"Council")of the City of Pequot Lakes,Minnesota(the <br /> "City"),as follows: <br /> Section 1. Recitals. <br /> 1.01. The City has heretofore established Development District No. 1 and adopted the Development <br /> Program therefor. It has been proposed that the City establish within Development District No. 1 Tax <br /> Increment Financing District No. 1-4("District No. 1-4"),and adopt the related Tax Increment Financing Plan <br /> therefor (the "Plan"); all pursuant to and in conformity with applicable law, including Minnesota Statutes, <br /> Sections 469.124 through 469.134 and 469.174 through 469.179, all inclusive, as amended, all as reflected <br /> in the Plan, and presented for the Council's consideration. <br /> 1.02. The Council has investigated the facts relating to the Plan. <br /> 1.03. The City has performed all actions required by law to be performed prior to the adoption and <br /> approval of the proposed Plan,including,but not limited to, notification of Crow Wing County and School <br /> District No. 186 having taxing jurisdiction over the property to be included in District No. 1-4,a review of and <br /> written comment on the Plan by the City Planning Commission, and the holding of a public hearing upon <br /> published notice as required by law. <br /> Section 2. Findings for the Adoption and Approval of the Plan. <br /> 2.01. The Council hereby finds that the Plan is intended, and in the judgment of this Council,the <br /> effect of such actions will be,to provide an impetus for development for the public purpose and accomplish <br /> certain objectives as specified in the Plan and in the City's Development Program for Development District <br /> No. 1,which are hereby incorporated herein. <br /> Section 3. Findings for the Establishment of Tax Increment Financing District No. 1-4. <br /> 3.01. The Council hereby finds that Tax Increment Financing District No. 1-4 is in the public <br /> interest and is an "economic development district" under Minnesota Statutes, Section 469.174, Subd. 12. <br /> N:\MINNSOTA\PEQUOTLK\TIFI-4\CITY.RES <br />