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CITY OF LITTLE CANADA COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION APPROVING REDEVELOPMENT PROJECT AND TAX INCREMENT FINANCING DISTRICT PLANS; AND APPROVING THE REQUEST FOR DECERTIFICATION OF TAX INCREMENT FINANCING DISTRICT NO. 3 -1 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 Economic Development Authority establish its Redevelopment Project Area No. 1 (the "Redevelopment Project "); adopt the Redevelopment Plan for the Redevelopment Project; and establish within the Redevelopment Project Tax Increment Financing District No. 3 -2 and adopt the related Tax Increment Financing Plan therefor (collectively, the "Plans "); all pursuant to and in conformity with applicable law, including Minnesota Statutes, Sections 469.090 through 469.108, 469.001 through 469.068, 469.174 through 469.179, 469.073, and Laws of Minnesota 1985, Chapter 173; all as reflected in those certain documents entitled in part "Redevelopment Plan for Redevelopment Project Area No. 1" and "Tax Increment Financing Plan for Tax Increment Financing District No. 3 -2," both dated November 8, 1995, and presented for the Council's consideration. 1.02. The Council has investigated the facts relating to the Plans. 1.03. The City has performed all actions required by law to be performed prior to the adoption and approval of the Plans, including, but not limited to, prior notification of the County and School Boards (both of which have provided to the City written comment on the Plans), a review of and written comment on the Plans by the City Planning Commission, and the holding of a public hearing thereon following at least 10 but not more than 30 days' prior published notice thereof, as required by law. 1.04. Certain written reports attached to the Plans (the "Reports ") relating to the Plans and to the activities contemplated therein have hereto -fore been prepared by staff and submitted to the Council and /or made a part of the City or Authority files and proceedings on the Plans. The Reports include data, information and /or substantia -tion constituting or relating to (1) the "studies and analyses" on why the new Tax Increment District meets the so- called "but for" test; and (2) the bases for the other findings and determinations made in this resolution. The Council hereby confi s, ratifies and adopts the 304781.1 Page 1