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CITY OF ST. ANTHONY H.R.A. RESOLUTION 02-006 8 RESOLUTION APPROVING 2002 AMENDMENT TO MASTER MODIFICATION TO REDEVELOPMENT PLANS AND TAX INCREMENT FINANCING PLAN FOR CHANDLER PLACE TAX INCREMENT DISTRICT(RAMSEY COUNTY NO. 58) AND REQUESTING THE APPROVAL OF THE CITY COUNCIL BE IT RESOLVED, by the Board of Commissioners (the"Board") of the Housing and Redevelopment Authority of St. Anthony, Minnesota(the"HRA"), as follows: 1. Proposed Amendment. The HRA has approved a redevelopment plan, as defined in Minnesota Statutes, Section 469.002, subdivision 16, designated as Kenzie Terrace Redevelopment Plan, Chandler Place Redevelopment Plan, Highway Eight Redevelopment Plan, Redevelopment Plan for Redevelopment Project No. 2 and Redevelopment Plan for Redevelopment Project No. 3, together with certain amendments thereto (the"Redevelopment Plans"), and redevelopment projects to be undertaken pursuant thereto, as defined in Minnesota Statutes, Section 469.002, subdivision 14 (the "Redevelopment Projects"), and that in order to finance the public redevelopment costs to be incurred by the HRA in connection with certain of the Redevelopment Plans and the Redevelopment Projects, the HRA has approved tax increment financing plans,pursuant to the provisions of Minnesota Statutes, Section 469.175 (the "Financing Plans"), which two establish tax increment financing districts, as defined in Minnesota Statutes, Section 469.174, subdivision 9, which are designated by the HRA as • follows: Kenzie Terrace Tax Increment District (Hennepin County No. 1950) and Chandler Place Tax Increment District (Ramsey County No. 58) (the"Districts"). The HRA has approved an amendment to the Redevelopment Plans and the Financing Plans which is entitled "Master Modification to the Redevelopment Plans and the Tax Increment Financing Plans" (the"Original Master Modification") which combines the areas subject to the Redevelopment Plans and to expand the area subject to the Redevelopment Plans and to authorize the expenditure of tax increment revenue derived from the Districts to pay public redevelopment costs in the additional area subject to the Redevelopment Plans and on November 13, 1996 the Board of Commissioners of the HRA and the City approved amendments to the Original Master Modification designated as"1996 Amendments to the Master Modification to Redevelopment Plans and Tax Increment Financing Plans (the"1996 Amendment"), which included additional property in the area subject to the Redevelopment Plans and amended the Financing Plans to authorize additional expenditure of tax increment revenue derived from either of the Districts. The Original Master Modification, as amended by the 1996 Amendments is herein called the "Master Modification". On January 23, 2001 the Board of Commissioners of the.HRA and the City approved an additional amendment to the Tax Increment Financing Plan for Chandler Place Tax Increment District (Ramsey County No. 58) (the "Chandler District") designated as "2001 Amendment to Tax Increment Financing Plan for Chandler Place Tax Increment District (Ramsey County No. 58)"to identify property which the HRA intends to acquire with tax increment revenues derived from the Chandler District. It has been proposed that the HRA approve an additional amendment to the Master Modification and the Tax Increment Financing •