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occur w ith in Redevelopment Project Area No. 1; Tax Increment Financing District No. 3 -2 is properly zoned; <br />the Modification to the Tax Increment Financing Plan conforms to the City's comprehensive plan for <br />redevelopment and development; and the development activities are necessary so that development and <br />redevelopment by private enterprise can occur within Redevelopment Project Area No. 1. <br />3. The EDA hereby finds that the Modifications conform in all respects to the requirements of <br />the Act and are intended and, in the judgement of the Board, the effect of such actions will be to help fulfill <br />a need to develop an area of the City which is already built up, to provide employment opportunities, to <br />improve the tax base and to improve the general economy of the State and hereby serves a public purpose. <br />4. The Modifications, as presented to the EDA on this date, are hereby approved and adopted <br />and shall be placed on file in the office of the City Administrator. <br />5. Upon approval of the Modifications by the City Council, the staff, the EDA's advisors and <br />legal counsel are authorized and directed to proceed with the implementation of the Modifications and for <br />this purpose to negotiate, draft, prepare and present to this Board for its consideration all further plans, <br />resolutions, documents and contracts necessary for this purpose. Approval of the Modifications does not <br />constitute approval of any project or a Development Agreement with any developer. <br />6. Upon approval of the Modifications by the City Council, the City Administrator is <br />authorized to forward a copy of the Modifications to the Minnesota Department of Revenue pursuant to <br />Minnesota Statutes 469.175, subdivision 2. <br />7. The City Administrator is authorized and directed to forward a copy of the Modifications <br />to the Ramsey County Auditor, in accordance with Minnesota Statutes 469.177. <br />Approved by the Board of Commissioners of the Little Canada Economic Development Authority <br />this 22th day of March, 2000. <br />ATTEST: <br />Secretary <br />Page 24 <br />Chair <br />