CC RES 01-031 A RESOLUTION APPROVING AMENDMENT TO TAX INCREMENT FINANCING PLAN FOR CHANDLER PLACE TAX INCREMENT DISTRICT (RAMSEY COUNTY NO. 58) AND MAKING FINDINGS WITH RESPECT THERETO

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• RESOLUTION NO. 01- 031 RESOLUTION APPROVING 2001 AMENDMENT TO TAX INCREMENT FINANCING PLAN FOR CHANDLER PLACE TAX INCREMENT DISTRICT (RAMSEY COUNTY NO. 58) AND MAKING FINDINGS WITH RESPECT THERETO BE IT RESOLVED by the City Council of the City of St. Anthony, Minnesota as follows: 1. The Commissioners of the Housing and Redevelopment Authority of the City of St. Anthony, Minnesota (the "HRA") and the City of St. Anthony, Minnesota (the "City"), have previously approved 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 (the "Redevelopment Projects") to be undertaken pursuant thereto, and in order to finance the public redevelopment costs to be incurred by the City and the HRA in connection with certain of the Redevelopment Plans and Redevelopment Projects, the HRA and the City have approved Tax Increment Financing Plans (the "Financing Plans"), which establish two tax increment financing districts 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"). In 1995 the Board of Commissioners of the HRA and the City approved an • amendment to the Redevelopment Plans and the Financing Plans which is entitled "Master Modification to Redevelopment Plans and Tax Increment Financing Plans" (the "Original Master Modification"). The Master Modification combines the areas subject to the Redevelopment Plans and expands the area subject to the Redevelopment Plans and authorizes the expenditure of tax increment revenues derived from the Districts to pay public redevelopment costs in the additional area made 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". The HRA has approved an additional amendment to the Tax Increment Financing Plan for Chandler Place Tax Increment District (Ramsey County No. 58) (the "Chandler District") which is entitled "2001 Amendments to Tax Increment Financing Plan for Chandler Place Tax Increment District (Ramsey County No. 58)" (the "2001 Amendment') to identify property which the HRA intends to acquire with the tax increment revenues derived from the Chandler District. 2. This Council on January 23, 2001, held a public hearing on the 2001 Amendment after notice of the public hearing was published in the official newspaper of the City is