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• <br /> • <br /> RESOLUTION NO. 5/,L/ <br /> 1110 CITY OF MOUNDS VIEW <br /> COUNTY OF RAMSEY <br /> STATE OF MINNESOTA <br /> RESOLUTION APPROVING MODIFICATION OF THE <br /> PROJECT PLAN FOR THE MOUNDS VIEW ECONOMIC <br /> DEVELOPMENT PROJECT, ESTABLISHING TAX <br /> INCREMENT FINANCING DISTRICT NO. 4, AND <br /> APPROVING THE TAX INCREMENT FINANCING PLAN . <br /> THEREFOR <br /> Section 1. Recitals. <br /> 1.01. The Mounds View Economic Development Authority ("EDA") consolidated <br /> Development Districts No. 1, 2, and 3, pursuant to Minn_ Stat., Sections 469.090 through <br /> 469.108, control of which was transferred to the EDA by the City of Mounds View ("City"), <br /> thereby establishing the Mounds View Economic Development Project ("Project"), and adopted <br /> a project plan therefor ("Project PIan"). <br /> 110 1.02. The City has determined a need to modify the Project Plan pursuant to Minn. Stat., <br /> Sections 469,124 through 469.134 ("Development District Act") and Minn. Stat., Sections <br /> 469.001 to 469.047 ("HRA Act") and to that end has caused to be prepared a document entitled <br /> "Modification No. 1 to the Mounds View Economic Development Project" dated April 14, 1997 <br /> ("Project Plan Modification"). <br /> 1.02. The City has determined a need to establish Tax Increment Financing District No. <br /> 4 ("TIF District No. 4") and to adopt a Tax Increment Financing Plan ("TIF Plan") therefor, <br /> pursuant to Minn. Stat., Sections 469.101 through 469.1081 and Minn. Stat., Sections 469.174 <br /> through 469.179 ("TIF Act") and to that end has caused to be prepared a document entitled "Tax <br /> Increment Financing Plan for Redevelopment Tax Increment Financing District No. 4," dated <br /> April 14, 1997. <br /> 1.03. The Project Plan Modification and the TIF Plan were referred to the Mounds View <br /> Planning Commission, which determined that they conform to the general plan for the <br /> development of the City as a whole. <br /> 1.04. Estimates of the fiscal and economic implications of the TIF Plan <br /> were esented <br /> to Independent School District #621 and the Ramsey County Board before the public hearing on <br /> the TIF Plan in accordance with the TIF Act. The county commissioner representing the area <br /> including the TIF District was also duly notified in accordance with the TIF Act. <br /> 1.05. The City has fully reviewed the contents of the TIF Plan and has conducted a <br /> public hearing thereon, at which the views of all interested persons were heard. <br /> DJG120166 <br /> MU205-4 <br /> t1 <br /> 1 <br />