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04 HOUSING AND REDEVELOPMENT AUTHORITY OF ST.ANTHONY CITY OF ST. ANTHONY RAMSEY COUNTY STATE OF MINNESOTA H.R.A. RESOLUTION NO. 03-016 RESOLUTION ADOPTING A MODIFICATION TO THE REDEVELOPMENT PLAN FOR REDEVLEOPMENT. PROJECT AREA NO 3; AND ESTABLISHING TAX INCREMENT FINANCING DISTRICT NO. 3-5 WITHIN REDEVELOPMENT PROJECT AREA NO. 3 AND APPROVING THE REMOVAL OF CERTAIN PARCELS FROM THE HRA'S TAX INCREMENT FINANCING DISTRICT NO.3-3 FOR INCLUSING IN DISTRICT NO.3-5 AND ADOPTING A TAX INCREMENT FINANCING PLAN THREFOR WHEREAS,The City Council and Housing and Redevelopment Authority(the"HRA") of the City of St.Anthony previously approved the establishment of Tax Increment Financing District No.3-Ramsey County ("District No. 3-3") within Redevelopment Area No. 3 and approved the Tax Increment Financing Plan therefor and approved the establishment of Redevelopment Project No. 3 and approved the Redevelopment Plan for Redevelopment Project Area No 3. (the"Redevelopment Plan")therefor. It has been proposed by the Board of Commissioners (the "Board") of the HRA and the City of St. Anthony that (i) the HRA adopt a Modification to the Redevelopment Plan for Redevelopment Project Area No. 3 (the "Redevelopment Plan Modification")and establish Tax Increment Financing District No.3-5 and adopt a Tax Increment Financing Plan (the "TIF Plan") therefor (the Redevelopment Plan Modification and the TIF Plan are referred to collectively herein as the "Plans"), and (ii)modify the tax increment financing plan for District No. 3-3 by removing from District 3-3 the parcels in District No. 3-3 which are to be included within the newly established District No. 3-5; all pursuant to and in conformity with applicable law, including Minnesota Statutes,Sections 469.090 through 469.1081, 469.001 through 469.047,and 469.174 through 469.1799,all inclusive,as amended, (the"Act")and as reflected in the Plans and presented for the Board's consideration; and WHEREAS,the HRA has investigated the facts relating to the Plans and has caused the Plans,to be prepared; and WHEREAS,the HRA has performed all actions required by law to be performed prior to the adoption of the Plans.The HRA has also requested the City Planning Commission to provide for review of and written comment on Plans and that the Council schedule a public hearing on the Plans upon published notice as required by law. NOW,THEREFORE,BE IT RESOLVED by the Board as follows: 1. The HRA hereby finds that Tax Increment Financing District No.3-5 is in the public interest and is a"redevelopment district"under Minnesota Statutes,Section 469.174,Subd. 10(a)(1),and finds that the adoption of the proposed Plans conform in all respects to the requirements of the Act and will help fulfill a need to develop an area of the State of Minnesota which is already built up and that the adoption of the proposed Plans will help provide employment opportunities in the State and in the preservation and enhancement of the tax base of the City and the State because it will discourage commerce and industry from moving their operations to another state or municipality and thereby serves a public purpose. 2. The HRA further finds that the Plans will afford maximum opportunity,consistent with the sound needs for the City as a whole, for the development or redevelopment of the project area by private