10-10-2007 Council Agenda - Laserfiche WebLink

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CITY OF LITTLE CANADA RAMSEY COUNTY STATE OF MINNESOTA Council member introduced the following resolution and moved its adoption: RESOLUTION NO. RESOLUTION ESTABLISHING DEVELOPMENT DISTRICT NO. 5 AND TAX INCREMENT FINANCING DISTRICT NO. 5 -1 THEREIN; AND ADOPTING A DEVELOPMENT PROGRAM AND TAX INCREMENT FINANCING PLAN THEREFOR. BE IT RESOLVED by the City Council (the "Council ") of the City of Little Canada, Minnesota (the "City "), as follows: Section 1. Recitals 1.01. It has been proposed that the City establish Development District No. 5 and Tax Increment Financing District No. 5 -1 (the "District ") therein; and adopt a Development Program (the "Development Program ") and Tax Increment Financing Plan (the "TIF Plan ") therefor (the Development Program and the TIF Plan are referred to collectively herein as the "Program and Plan "); all pursuant to and in conformity with applicable law, including Minnesota Statutes, Sections 469.124 to 469.134 and Sections 469.174 to 469.1799, all inclusive, as amended (the "Act ") all as reflected in the Program and Plan, and presented for the Council's consideration. 1.02. The City has investigated the facts relating to the Program and Plan and has caused the Program and Plan to be prepared. 1.03. The City has performed all actions required by law to be performed prior to the establishment of the District and the adoption and approval of the proposed Program and Plan, including, but not limited to, notification of Ramsey County and Independent School District No. 623 having taxing jurisdiction over the property to be included in the District, a review of and written comment on the Program and Plan by the City Planning Commission, and the holding of a public hearing upon published notice as required by law. 1.04. Certain written reports (the "Reports ") relating to the Program and Plan and to the activities contemplated therein have heretofore been prepared by staff and consultants and submitted to the Council and/or made a part of the City files and proceedings on the Program and Plan. The Reports include data, information and /or substantiation constituting or relating to the basis for the other findings and determinations made in this resolution. The Council hereby confirms, ratifies and adopts the Reports, which are hereby incorporated into and made as fully a part of this resolution to the same extent as if set forth in full herein. Section 2. Findings for the Adoption and Approval of the Program and Plan 2.01. The Council hereby finds that the Program and Plan, are intended and, in the judgment of this Council, the effect of such actions will be, to provide an impetus for development in the public interest and accomplish certain objectives as specified in the Program and Plan, which are hereby incorporated herein. .79-