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• CITY OF MOUNDS VIEW COUNTY OF RAMSEY • STATE OF NIINNESOTA RESOLUTION N0.6594A RESOLUTION APPROVING THE ELIlI~TATION OF PARCELS FROM TAX INCREMENT FINANCING DISTRICT NO. 3 (RAMSEY COUNTY TIF DISTRICT NO. 92), LOCATED WITHIN MOUNDS VIEW ECONOMIC DEVELOPMENT PROJECT, IN THE CITY OF MOUNDS VIEW. 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. On February 22, 1988, the City established Tax Increment Financing District No. 3 (the "TIF District")within its Mounds View Economic Development Project; and 1.02. The Mounds View Economic Development Authority (the "EDA") is the administrative authority for the TIF District; and 1.03. The TIF District, in part, included the following parcel numbers, which were previously certified in the TIF District (the "Parcels"): OS-30-23-21-0005 OS-30-23-21-0006 1.04. The City desires by this resolution to cause the elimination of the Parcels from the TIF District thereby reducing the size of the TIF District; and 1.05. Since the total current net tax capacity of the parcels to be eliminated from the TIF District equals or exceeds the net tax capacity of the parcels in the TIF District's original net tax capacity, the holding of a public hearing is not required pursuant to Minnesota Statutes, Section 469.175, Subd. 4. Section 2. Cit~pproval; Further Proceedings 2.01. The tax increment financing plan ("TIF Plan") for the TIF District is hereby modified to remove the Parcels from the TIF District, effective for taxes payable in 2006. 2.02. Upon approval of a similar resolution by the EDA, staff are authorized and directed to attach a copy of this resolution to the TIF Plan for the TIF District in City files, file a copy of this resolution with the County Auditor of Ramsey County along with instructions to adjust the records for the TIF District accordingly, and file a copy of the resolution with the Minnesota Commissioner of Revenue. The motion for the adoption of the foregoing resolution was duly seconded by Council member and upon a vote being taken thereon, the following voted in favor thereof: