05.01 TIF District - Heart of the godd Life Development

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EXTRACT OF MINUTES OF A MEETING OF THE CITY COUNCIL OF THE CITY OF PEQUOT LAKES, MINNESOTA HELD: January 5, 2021 Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of Pequot Lakes, Crow Wing County, Minnesota, was duly held at the City Hall on Tuesday, the 5th day of January, 2021, at 6:30 p.m.for the purpose, in part, of calling a public hearing on the establishment of the Development Program for Municipal Development District No. 2, and the establishment of Tax Increment Financing Plan for Tax Increment Financing District No. 2-1 located therein. The following Councilmembers were present: and the following were absent: Councilmember introduced the following resolution and moved its adoption; RESOLUTION NO. CALLING FOR A PUBLIC HEARING ON THE ESTABLISHMENT OF MUNICIPAL DEVELOPMENT DISTRICT NO. 2, THE APPROVAL OF THE DEVELOPMENT PROGRAM RELATED THERETO, THE ESTABLISHMENT OF TAX INCREMENT FINANCING DISTRICT NO. 2-1, AND THE ADOPTION OF TAX INCREMENT FINANCING PLAN RELATING THERETO BE IT RESOLVED by the City Council (the"Council")of the City of Pequot Lakes, Minnesota(the "City"), as follows: 1. Public Hearinq. The City Council shall meet on Tuesday, March 2, 2021, at approximately 6:30 p.m. to hold a public hearing on the following matters: (a)the proposed establishment of Municipal Development District No. 2, (b)the approval of the Development Program related thereto, (c)the proposed establishment of Tax Increment Financing District No. 2-1, and(d)the proposed adoption of the Tax Increment Financing Plan relating thereto, all pursuant to and in accordance with Minnesota Statutes, Sections 469.124 to 469.134 and 469.174 to 469.1794, inclusive, as amended (the "Act"). 2. Notice of Hearinq. Filinq of Procaram and Plan. The Administrator is hereby authorized to cause a notice of the hearing, substantially in the form attached hereto as Exhibit A, to be published as required by the Act and to place a copy of the Development Program and Tax Increment Financing Plan, as proposed to be adopted, on file in the Administrator's Office at City Hall and to make such copies available for inspection by the public. The motion for the adoption of the foregoing resolution was duly seconded by Councilmember and upon vote being taken thereon, the following voted in favor: and the following voted against the same. Whereupon said resolution was declared duly passed and adopted.