RES 21-025 ADOPTING A MODIFICATION TO THE DEVELOPMENT PROGRAM FOR REDEVELOPMENT PROJECT AREA NO 3 AND ESTABLISHING THE LOWRY GROVE TIF DISTRICT AND ADOPTING A TAX INCREMENT FINANCING PLAN THEREFOR

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CITY OF ST. ANTHONY HENNEPIN COUNTY STATE OF MINNESOTA Council member W (%I W introduced the following resolution and moved its adoption: RESOLUTION 21-025 RESOLUTION ADOPTING A MODIFICATION TO THE DEVELOPMENT PROGRAM FOR REDEVELOPMENT PROJECT AREA NO. 3; AND ESTABLISHING THE LOWRY GROVE TIF DISTRICT THEREIN AND ADOPTING A TAX INCREMENT FINANCING PLAN THEREFOR BE IT RESOLVED by the City Council (the "Council") of the City of St. Anthony, Minnesota (the "City"), as follows: Section 1. Recitals. 1.01. The Council has heretofore established Redevelopment Project Area No. 3 (the "Project Area") and adopted the Development Program therefor. It has been proposed by the City and recommended by the St. Anthony Housing & Redevelopment Authority (the "Authority") that the City adopt a Modification to the Development Program (the "Development Program Modification") for the Project Area and establish the Lowry Grove TIF District (the "District") therein and adopt a Tax Increment Financing Plan (the "TIF Plan") therefor (the Development Program Modification and the TIF Plan are referred to collectively herein as the "Program and Plan"); all pursuant to and in conformity with applicable law, including Minnesota Statutes, Sections 469.001 to 469.047 and Sections 469.174 to 469.1794, all inclusive, as amended, (the "Act") all as reflected in the Program and Plan, and presented for the Council's consideration. 1.02. The City has investigated the facts relating to the Program and Plan and has caused the Program and Plan to be prepared. 1.03. The City has performed all actions required by law to be performed prior to the establishment of the District and the adoption and approval of the proposed Program and Plan, including, but not limited to, (i) providing the proposed TIF Plan and the information on the fiscal and economic implications of the plan to the county auditor and the clerk of the school district board at least 30 days before a public hearing to be held by the City on the Program Modification and TIF Plan and (ii) publishing notice of the public hearing as required by the Act. 1.04. Certain written reports (the "Reports") relating to the Program and Plan and to the activities contemplated therein have heretofore been prepared by staff and consultants and submitted to the Council and/or made a part of the City files and proceedings on the Program and Plan. The Reports include data, information and/or substantiation constituting or relating to the basis for the other findings and determinations made in this resolution. The Council hereby confirms, ratifies and adopts the Reports, which are hereby incorporated into and made as fully a part of this resolution to the same extent as if set forth in full herein. 4831-3967-3825\1