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CITY OF MOUNDS VIEW, MINNESOTA <br /> RESOLUTION NO. %p <br /> RESOLUTI PROCESS INITIATING PR CESS FOR CONSIDERATION <br /> OF A NEW TAX INCREMENT FINANCING DISTRICT <br /> BE IT RESOLVED by the City Council (the "Council") of the <br /> City of Mounds View, Minnesota (the "City") , as follows : <br /> 1 . Recitals. <br /> (a) Pursuant to Minnesota Statutes, Sections 469 . 090 <br /> through 469 . 108, the Mounds View Economic Development <br /> Authority (the VEDA") is authorized to exercise development <br /> and redevelopment powers. <br /> (b). The EDA has established its Mounds View Economic <br /> Development Project (the "Project") and adopted the Project <br /> Plan therefor. <br /> (c) The EDA has proposed to establish a tax increment <br /> financing district for the proposed Bel Rae/V.B. Diggs <br /> redevelopment project. <br /> (d) The process which must be followed is the <br /> preparation of the tax increment plan, notification to both <br /> the individual County Commissioner and the County Board as a <br /> whole, notification to the School Board, and the holding of <br /> _ 'a public hearing by the City Council on the proposed plan. <br /> 2 . Public Hearing. The Council hereby authorizes the <br /> necessary steps which need to be taken in order to prepare and <br /> bring forward the proposed tax increment financing plan and <br /> district for consideration and public hearing by the City <br /> Council . City Staff is authorized to schedule the public hearing <br /> to be held by the Council at the appropriate time, given the <br /> required, 30 day prior notice to the County and School Boards and <br /> the requirement that notice of the public hearing be published at <br /> least 10 dayø prior thereto <br /> Adopted by the Mounds.View City Council this 16th day of <br /> Decembet, 1996. <br /> 339470.1 • <br /> E . d 17102.199E 'ON/ON S/9Z:P 196 ,EI 'Z{ (IHd) MEOW soma Y(OU <br />