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OORSEY <br /> DORSEY & WHITNEY LLP <br /> MEMORANDUM <br /> TO: Kim Moore-Sykes <br /> Assistant City Manager <br /> St. Anthony Planning Commission <br /> FROM: Jerome P. Gilligan <br /> DATE: February 16, 2006 <br /> RE: Proposed Modification to the Redevelopment Plan for Project Area No. 3 and <br /> the Proposed Modifications of the TIF Plan for the Chandler Place TIF District <br /> and TIF Plan for the TIF District No. 3-5 <br /> It has been proposed that the HRA and the City Council approve modifications (the <br /> "Modifications")to the Redevelopment Plan for Project Area No. 3, the Tax Increment Financing <br /> Plan for the Chandler TIF District and the Tax Increment Financing Plan for the TIF District No. <br /> 3-5 (Silver Lake Village). Ehlers & Associates is working with City and HRA staff in connection <br /> with the Modifications and has prepared for your review an overview of the proposed <br /> Modifications. The HRA and City Council have called for a public hearing on the modification <br /> for their meetings on March 14`h and following the public hearing will consider approving the <br /> Modifications. <br /> One of the findings the City is required to make under the Minnesota Tax Increment <br /> Financing Act when it approves the Modifications is that the Redevelopment Plan and TIF Plans <br /> as modified by the Modifications conform to the general plan for the development or <br /> redevelopment of the City as a whole. For this reason the Planning Commission is being <br /> requested to give its opinion on the proposed Modifications. The Planning Commission has <br /> previously opined that the TIF Plan for the Chandler TIF District and the TIF Plan for District No. <br /> 3-5 conform to the general plan for development or redevelopment of the City as a whole. The <br /> Modifications are primarily for the purpose of providing additional funding sources to the City <br /> and HRA for redevelopment projects and public improvements and do not change the existing <br /> plans for the development and redevelopment of the City so I would recommend that the <br /> Planning Commission take a similar position with respect to the Plans as modified by the <br /> Modifications. <br /> DOR`iEY&WHITNEY LLP <br />