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H.R.A. RESOLUTION 1995-004 • RESOLUTION APPROVING MASTER MODIFICATION TO REDEVELOPMENT PLANS AND TAX INCREMENT FINANCING PLANS 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"). It has been proposed that the HRA approve 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 "Master Modification") to combine 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 by the Master Modification and costs related to construction of a community center designed to serve the residents of the City. 2. Approval of Master Modification. The Master Modification has been presented to this Board and is ordered placed on file in the office of the Executive Director of the HRA, and the Master Modification is hereby approved. The Master Modification further serves the original goals and purposes of the City and HRA in approving the Redevelopment Plans, the Redevelopment Projects and the Financing Plans, by redeveloping property in the City in order to prevent or reduce blight, blighting factors and the causes of blight and by providing public facilities which will be of benefit to all residents of the City. 3. Presentation to City Council. The Master Modification hereby approved shall be presented to the City Council for a public hearing thereon