CC RES 95-042 RESOLUTION APPROVING 1995 AMENDMENT TO REDEVELOPMENT PLANS FOR REDEVELOPMENT PROJECT NO. 2 ( RAMSEY COUNTY) AND THE TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 2

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RESOLUTION 95-042 RESOLUTION APPROVING 1995 AMENDMENT TO REDEVELOPMENT PLAN FOR REDEVELOPMENT PROJECT NO. 2 (RAMSEY COUNTY) AND THE TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 2 BE IT RESOLVED, by the City Council of the City of St. Anthony, Minnesota (the "City"), as follows: 1. Proposed Amendments. The Housing and Redevelopment Authority of St. Anthony, Minnesota (the "HRA") and the City have approved a redevelopment plan, as defined in Minnesota Statutes, Section 469.002, subdivision 16, designated as the Redevelopment Plan for Redevelopment Project No. 2 (Ramsey County) (the "Redevelopment Plan"), and a redevelopment project to be undertaken pursuant thereto, as defined in Minnesota Statutes, Section 469.002, subdivision 14 (the "Redevelopment Project"). 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 and the City have approved Tax Increment Financing Plan for Tax Increment Financing District No. 2 (Ramsey County) (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. 2 (Ramsey County) (the "District"). In connection with the development of additional property in the District, the HRA has approved an amendment to the Redevelopment Plan and Financing Plan (the "Amendment") and has requested that the City approve the Amendment. The Amendment is described in the document entitled "1995 Amendment to Redevelopment Plan for Redevelopment Project No.2 (Ramsey County)" and has been presented to this Council. 2. Public Hearing. This Council on June 27, 1995, held a public hearing on the Amendment after notice of the public hearing was published in the official newspaper of the City not less than ten (10) days prior to the date of the hearing. At such public hearing all persons desiring to be heard with respect to the Amendments were given an opportunity to express their views with respect thereto. 3. Approval of Amendment. This Council has previously found that the District is a soils condition district within the scope of the Act, and the Amendment will not change such prior finding. The Amendment further serves 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 the development and redevelopment of the area included in the Redevelopment Plan.