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RESOLUTION NO. 6745 CITY OF MOUNDS VIEW RAMSEY COUNTY STATE OF MINNESOTA RESOLUTION ADOPTING A MODIFICATION TO THE PROJECT PLAN FOR THE MOUNDS VIEW ECONOMIC DEVELOPMENT PROJECT AND A MODIFICATION TO THE TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. S THEREIN. BE IT RESOLVED by the City Council (the "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 View Economic Development Authority (the "EDA") has heretofore established the Mounds View Economic Development Project and adopted the Project Plan therefor and established Tax Increment Financing District No. 5 and adopted the Tax Increment Financing Plan therefor. It has been proposed that the City adopt a Modification to the Project Plan (the "Project Plan Modification") for the Mounds View Economic Development Project and adopt a Modification to the Tax Increment Financing Plan (the "Tax Increment Plan Modification" or together with the Proj ect Plan Modification, the "Modifications") for Tax Increment Financing District No. 5 (the "District "), all pursuant to and inconformity with applicable law, including Minnesota Statutes, Sections 469.090 to 469.1082, and Sections 469.174 to 469.1799, inclusive as amended (the "Act"), all as reflected in the Modifications, and presented for the Council's consideration. 1.02. The Council has investigated the facts related to the Modifications and has caused the Modifications to be prepared. 1.03. .The City has performed all actions required by law to be performed prior to the adoption and approval of the proposed Modifications, including, but not limited to, notification of Ramsey County and Independent School District No. 621 having taxing jurisdiction over the property included in the District, and the holding of a public hearing upon published notice as required bylaw. 1.04. The City is not modifying the boundaries of the Mounds View Economic Development Project. 1.05. The City is not modifying the boundaries nor term of the District. Section 2. Findings for the Tax Increment Plan Modification 2.01. The Council hereby reaffirms the original findings for the District, namely that the when the District was established, it was established as an "economic development district" established under the 2005 Laws of Minnesota, Chapter 152, Article 2, Section 26 (H.F No. 2498) (the "Special Legislation"). In addition, the City makes the following fmdings: (a) The Tax Increment Plan Modification conforms to the general plan for development or redevelopment of the City as a whole. The reason for supporting this finding is that the Tax Increment Plan Modification will generally complement and serve to implement policies adopted in