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<br />, <br /> <br />RESOLUTION NO. 511'd <br /> <br />i." <br /> <br />CITY OF MOUNDS VIEW <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <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 /> <br />Section 1. <br /> <br />Recitals. <br /> <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 Plan"). <br /> <br />. <br /> <br />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 />C'Project Plan Modification"). <br /> <br />1.02. The City has determihed 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'l) therefor) <br />pursuant to Mm,n. 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 i'Tax <br />Increment Financing Plan for Redevelopment Tax Increment Financing District No. 4,11 dated <br />April 14, 1997. <br /> <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 /> <br />1.04. Estimates of the fiscal and economic implications of the TIF Plan were presented <br />to Independent School District #621 and the Ramsey County Board before the public hearing on <br />the TIF Plan in accordance with the nF Act. The county commissioner representing the area <br />including the TIF District was also duly notified in accordance with the TIF Act. <br /> <br />. 1.05. The Oly has fully, reviewed the contents of the TIP Plan and has condueted a <br />public hearing thereon, at which the views of all interested persons were heard. <br /> <br />I)JG12Q166 <br />MtnOS-4 <br />