CC RES 92-040 RESOLUTION APPROVING REDEVELOPMENT PLAN FOR REDEVELOPMENT PROJECT AREA NO. 3-RAMSEY COUNTY AND THE REDEVELOPMENT PROJECT TO BE UNDERTAKEN PURSUANT THERETO AND TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 3-RAMSEY COU

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Member Wagner introduced the following resolution and moved its adopted: RESOLUTION NO. 92-040 RESOLUTION APPROVING REDEVELOPMENT PLAN FOR REDEVELOPMENT PROJECT AREA NO. 3 - RAMSEY COUNTY AND THE REDEVELOPMENT PROJECT TO BE UNDERTAKEN PURSUANT THERETO AND TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 3 - RAMSEY COUNTY, AND MAKING FINDINGS WITH RESPECT THERETO BE IT RESOLVED by the City Council of the City of St. Anthony, Minnesota as follows: 1. The Housing and Redevelopment Authority in and for the City of St. Anthony (the HRA) has approved a redevelopment plan, as defined in Minnesota Statutes, Section 469.002, subdivision 16, designated as Redevelopment Plan for Redevelopment Project Area No. 3 - Ramsey County (the Redevelopment Plan), and a redevelopment project, as defined in Minnesota Statutes, Section 469.002, subdivision 14, to be undertaken pursuant thereto, designated as Redevelopment Project No. 3 - Ramsey County (the Redevelopment Project), and in order to finance the public redevelopment costs to be incurred by the HRA in connection with the Redevelopment Plan and Redevelopment Project, the HRA has approved a tax increment financing plan, pursuant to Minnesota Statutes, Section 469.175, designated as 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 Tax Increment Financing District No. 3 - Ramsey County (the District). The HRA has requested that this Council approve the Redevelopment Plan, Redevelopment Project and Financing Plan following a public hearing thereon. The HRA has furnished to this Council a copy of the Redevelopment Plan and Financing Plan and the written opinion of the City Planning Commission as to the Redevelopment Plan, the Redevelopment Project and the Financing Plan, and this Council on August 25, 1992, held a public hearing on the same after notice of the public hearing was published in the official newspaper of the City, not less than 10 days prior to the date of the hearing. All persons desiring to be heard were heard. 2. The Redevelopment Plan, Redevelopment Project, Financing Plan and establishment of the District are hereby approved. 3. This Council finds that the District is a redevelopment district within the scope of Minnesota Statutes, Section 469.174, subdivision 10, for the 0 following reasons: (i) parcels consisting of 70% of the area in the District are