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RESOLUTION 8002 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 MODIFICATIONS TO THE TAX INCREMENT FINANCING PLANS FOR TAX INCREMENT FINANCING DISTRICTS NOS. 1, 2, AND 3. BE IT RESOLVED by the City Council ("Council") of the City of Mounds View, Minnesota ("City"), as follows: Section 1. Recitals 1.01. The Board of Commissioners ("Board") of the Mounds View Economic Development Authority ("EDA") has heretofore established the Mounds View Economic Development Project (the "Project Area") and adopted a Project Plan therefor. It has been proposed by the EDA and the City that the City adopt a Modification to the Project Plan (the "Project Plan Modification") for the Project Area and Modifications to the Tax Increment Financing Plans (the "TIF Plans") for Tax Increment Financing Districts Nos. 1, 2, and 3 (the "TIF Districts") (which are referred to collectively herein as the "Modifications"), all pursuant to and in conformity with applicable law, including Minnesota Statutes, Sections 469.090 to 469.1082 and Sections 469.174 to 469.1799, all inclusive, as amended, (the "Act") all as reflected in the Modifications, and presented for the Council's consideration. 1.02. The EDA and City have investigated the facts relating to the Modifications and have caused the Modifications to be prepared. 1.03. The EDA and City have 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 in the TIF Districts, approval of the Modifications by the EDA on October 8, 2012, review of the Modifications by the Planning Commission on October 3, 2012, and the holding of a public hearing upon published notice as required by law. 1.04. The City and EDA are not modifying the boundaries of the Project Area or the TIF Districts. 1.05. The City and EDA are not extending the duration of the TIF Districts. Section 2. Findings for the Development Program Modification 2.01. The Council hereby finds that: (a) the land within the Project Area would not be available for development or redevelopment without the financial aid to be sought under the Project Plan Modification; (b) the Project Plan Modification will afford maximum opportunity, consistent with the needs of the City as a whole, for the development of the Project Area by private enterprise; and (c) the Project Plan Modification conforms to the general plan for the development of the City as a whole. 2.02. These findings are based on the facts and conditions described in the Project Plan Modification, which is incorporated herein by reference.