CC RES 96-061 RESOLUTION APPROVING 1996 AMENDMENTS TO MASTER MODIFICATION TO REDEVELOPMENT PLANS AND TAX INCREMENT FINANCING PLANS AND MAKING FINDINGS WITH RESPECT THERETO

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CITY OF ST. ANTHONY • RESOLUTION NO. 9 6-0 61 RESOLUTION APPROVING 1996 AMENDMENTS TO MASTER MODIFICATION TO REDEVELOPMENT PLANS AND TAX INCREMENT FINANCING PLANS 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 "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 by the Master Modification and costs related to construction of a community center designed to serve residents of the City. The HRA has approved an additional amendment to the Redevelopment Plans and Tax Increment Financing Plans which is entitled "1996 Amendments to.Master Modification to Redevelopment Plans and Tax Increment Financing Plans" (the "1996 Amendment") to expand the area subject to the Redevelopment Plans and amend the Financing Plans to authorize the additional expenditure of tax increment revenues derived from either of Districts to pay public redevelopment costs in the area subject to the Redevelopment Plans. 2. This Council on November 12, 1996, held a public hearing on the 1996 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 1996 Amendment were given an opportunity to express their views with respect thereto.