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Financing District No. 3 -2 and the Redevelopment Plan for <br />Redevelopment Project Area No. 1. <br />Section 3. Approval and Adoption of the Plans; Approval of <br />Request for Decertification of Tax Increment Financing District <br />No. 3 -1. <br />3.01. The Plans, as presented to the Council on this date, <br />including without limitation the findings and statements of <br />objectives contained therein, are hereby approved, ratified, <br />established, and adopted and shall be placed on file in the <br />office of the City Administrator. <br />3.02. The City Council hereby approves the request for <br />decertification of Tax Increment Financing District No. 3 -1. <br />Staff of the City is authorized and directed to request the <br />Ramsey County Auditor to decertify Tax Increment Financing <br />District No.3 -1. <br />Section 4. Exemption from LGA /HACA. <br />4.01. Pursuant to Minnesota Statutes, Section 273.1399, <br />Subdivision 6, as amended by the 1995 Omnibus Tax Bill, Article <br />5, Section 6, the City elects to make a qualifying local <br />contribution to the proposed development from unrestricted money <br />of the City in an amount equal to 7.5% of the annual tax <br />increments from Tax Increment Financing District No. 3 -2. Such <br />local contribution shall not exceed 2% of the net tax capacity of <br />the City. <br />Passed and Adopted this 8th day of November, 1995, by the <br />Little Canada City Council. <br />Approved this 8th day of November, 1995. <br />Mayor <br />City Administrator <br />The motion for the adoption of the foregoing resolution was <br />duly seconded by Councilmember , and upon . <br />vote being taken thereon, the following voted in favor thereof: <br />and the following voted against the same: <br />304781.1 <br />Page 3 <br />