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HRA RESOLUTION NO. 19 9 2-0 0 4 • RESOLUTION APPROVING 1992-B AMENDMENTS TO THE KENZIE TERRACE REDEVELOPMENT PLAN AND THE KENZIE TERRACE TAX INCREMENT FINANCING PLAN AND REQUESTING THE APPROVAL OF THE CITY COUNCIL BE IT RESOLVED, by the Board of Commissioners of the Housing and Redevelopment Authority of St. Anthony, Minnesota (the "HRA"), as follows: 1. Proposed Amendment. The HRA and the City of St. Anthony, Minnesota (the "City") have approved a redevelopment plan, as defined in Minnesota Statutes, Section 469.002, subdivision 16, designated as the Kenzie Terrace Redevelopment Plan (the 'Redevelopment Plan"), and a redevelopment project to be undertaken pursuant thereto, -as defined in Minnesota Statutes, Section 469.002, subdivision 14, designated as the Kenzie Terrace Redevelopment Project (the 'Redevelopment Project'), and that in order to finance the public redevelopment costs to be incurred by the HRA and the City in connection with the Redevelopment Plan and the Redevelopment Project, the HRA has approved a tax increment financing plan, pursuant to the provisions of Minnesota Statutes, Section 469.175, designated as the Kenzie Terrace Tax Increment Financing Plan (the • "Financing Plan"), which establishes a tax increment financing district, as defined in Minnesota Statutes, Section 469.174, subdivision 9, designated as the Kenzie Terrace Tax Increment Financing District (the "District"). It has been proposed that the EDA approve amendments to the Redevelopment Plan and the Financing Plan which are entitled "1992-B Amendments to the Kenzie Terrace Redevelopment Plan and the Kenzie Terrace Tax Increment Financing Plan" (the "1992-B Amendments") which includes additional property in the Redevelopment Plan and Redevelopment Project (the "Additional Property"), and authorizes the expenditure of tax increment revenue derived from the District to pay the public redevelopment costs of the HRA and City in connection with the development or redevelopment of the Additional Property. 2. Approval of 1992-B Amendments. The 1992-B Amendments have been presented to this Board and are ordered placed on file in the office of the Executive Director of the HRA, and the 1992-B Amendments are hereby approved. The 1992 Amendments further serve the original goals and purposes of the City and HRA in approving the Redevelopment Plan, the Redevelopment Project and the Financing Plan, by assisting in redeveloping the area included in the Redevelopment Plan.