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Resolution 17 -EDA -XXX <br />Page 2 <br />NOW, THEREFORE, BE IT FURTHER RESOLVED, that the City of Mounds View <br />Economic Development Authority does hereby support the Project subject to final determination <br />by the City Council in its sole discretion of Project eligibility, statutory requirements, public <br />hearings and required reviews, public input, and without surrendering its legislative discretion. <br />NOW, THEREFORE, BE IT FURTHER RESOLVED, that the City of Mounds View <br />Economic Development Authority supports the creation of a Tax Increment Financing district for <br />the Project, including a 15 -year TIF Note in an amount up to $375,000 in principal, to address a <br />funding gap for the Project. <br />NOW, THEREFORE, BE IT FINALLY RESOLVED, that the City of Mounds View <br />Economic Development Authority hereby authorizes City staff and City consultants to work on <br />Tax Increment Financing assistance for the Project upon receipt of a complete TIF application <br />from Newport Midwest, LLC and non-profit partner Journey Home for the Project. <br />Adopted this 9th day of April, 2018 <br />Carol A. Mueller, EDA President <br />ATTEST: <br />Nyle Zikmund, EDA Executive Director <br />(seal) <br />