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CITY OF MOUNDS VIEW COUNTY OF RAMSEY ST A TE OF :VIIl\"l\" ESOT A RESOLl:TION NO. 6594H RESOLIJTIO~ ADOPTING A MODIFICATIOl\" TO THE PROJECT PLA~ FOR THE MOLNDS VIEW ECO~OMIC DEVELOP:VIEl\"T PROJECT; AND ESTABLISHING TAX INCREME:"!T FINANCING DISTRICT NO.5 THEREI:"! ANn ADOPTING A TAX INCREMENT FINANCING PI.A:"! THEREFOR. BE IT RESOLVED by the City Council (thc "Council") of the City of Mounds View, Minnesota (the "City"), as follows: Section 1. Recitals . 1.01. The Board of Commissioners (the" Board") of the Mounds Vic\v Economic Development Authority (the "EDA") has hcretofore established the Mounds View Economic Development Project and adopted the Project Plan therefor. It has been proposed by the EDA and the City that the City adopt a Modification to the Project Plan for the Mounds View Economic Development Project (the "Project Plan Modification") and establish Tax Increment Financing District No.5 (the "District") therein and adopt a Tax Increment Financing Plan (the "TIF Plan") thcrefor (the Project Plan Modification and the TIF Plan are referred to collectively herein as the "Plans"); all pursuant to and in conformity with applicable law. including Minnesota Statutes, Scctions 469.090 to 469.1082 and Sections 469.174 to 469.1799, all inclusive, as amended, (the "Act") all as retlected in the Plans, and presented for thc Council's consideration. 1.02. The EDA and City have investigated the facts relating to the Plans and have caused the Plans to be prepared. 1.03. The EDA and City have performed all actions requircd by Imv to be performed prior to the establishment of the District and the adoption and approval of the proposed Plans, including. but not limited to, notification of Ramsey County and Independent School District No. 621 having taxing jurisdiction over the property to be included in the District a review of the Plans by the City Planning Commission and Council, approval of the Plans by the EDA on August 22, 2005. and the holding of a publie hearing upon published notice as required by law. 1.04. Certain written reports (the "Reports") relating to the Plans and to the actIvIties contemplated therein have herctofore been prepared by stafr and consultants and submitted to the Council and/or made a part of the City files and proceedings on the Plans. The RepOlts include data, infclnnation and/or substantiation constituting or relating to the basis for the other findings and determinations madc in this resolution. The Council hereby confirms, ratifics and adopts the Reports, which are hereby incorporated into and madc as fully a part of this resolution to the same extent as if set forth in full hercin. 1.05. The EDA and City have reviewcd the TIF Plan for the proposcd Tax Incrcmcnt Financing District No. 5 and support the following parcels. adjacent rights-of--way. and abutting roadways be included in the proposed district: . 05-30-23-13-0001 05-30-23-21-0005