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<br /> <br /> <br />RESOLUTION NO. 2022-6-____ <br /> <br />APPROVING A WRITTEN SPENDING PLAN FOR TAX INCREMENT FINANCING <br />(REDEVELOPMENT) DISTRICT NO. 3-2, TAX INCREMENT FINANCING <br />(HOUSING) DISTRICT NO. 3-3 AND TAX INCREMENT FINANCING (RENEWAL & <br />RENOVATION) DISTRICT NO. 5-1 <br /> <br />BE IT RESOLVED, by the City Council (the “Council”) of the City of Little Canada, <br />Minnesota (the “City”) as follows: <br />Section 1. Recitals <br />A. The Council established Tax Increment Financing (Redevelopment) District No. 3- <br />2, Tax Increment Financing (Housing) District No. 3-3 and Tax Increment <br />Financing (Renewal and Renovation) District No. 5-1 (the “Districts”) pursuant to, <br />and in accordance with, Minnesota Statutes, Sections 469.174 to 469.1794, <br />inclusive, as amended. <br /> <br />B. The City is proposing the adoption of a Written Spending Plan for the Districts, <br />pursuant to, and in accordance with, Minnesota Statutes, Sections 469.176, Subd. 4n <br />inclusive, as amended, in substantially the form submitted to the Council (the <br />“Spending Plan”) to utilize unobligated tax increment revenues from the Districts in <br />order to stimulate construction or substantial rehabilitation of private development in <br />a way that will also create or retain jobs. <br /> <br />C. The financing to be offered pursuant to the Spending Plan is intended to be for <br />housing projects and therefore is not subject to Minnesota Statutes, Sections <br />116J.993 to 116J.995, as amended (the “Business Subsidy Act”). <br /> <br />D. The City has performed all actions required by law to be performed prior to the <br />adoption of the Spending Plan, including, but not limited to, causing notice of a <br />public hearing to be published and holding a public hearing on the Spending Plan. <br />Section 2. Approval <br />A. The Spending Plan for the Districts is hereby approved and adopted in substantially <br />the form submitted to the Council. <br />