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4812-0832-7649\1 ST. ANTHONY HOUSING & REDEVELOPMENT AUTHORITY CITY OF ST. ANTHONY HENNEPIN COUNTY STATE OF MINNESOTA RESOLUTION 21-05 RESOLUTION RECOMMENDING THAT THE CITY COUNCIL ADOPT A MODIFICATION TO THE DEVELOPMENT PROGRAM FOR REDEVELOPMENT PROJECT AREA NO. 3 AND ESTABLISH LOWRY GROVE TIF DISTRICT THEREIN AND ADOPT A TAX INCREMENT FINANCING PLAN THEREFOR. WHEREAS, there is a proposal to adopt a Modification to the Development Program for Redevelopment Project Area No. 3 (the “Development Program Modification”) and establish Lowry Grove TIF 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 Modification and TIF Plan”), all pursuant to and in conformity with applicable law, including Minnesota Statutes, Sections Sections 469.001 to 469.047, and Sections 469.174 to 469.1794, inclusive, as amended (the “Act”); and WHEREAS, the City of St. Anthony (the “City”) has investigated the facts relating to the Program Modification and TIF Plan and has caused the Program Modification and TIF Plan to be prepared; and WHEREAS, the City has performed all actions required by law to be performed prior to the adoption of the Program Modification and TIF Plan, and has scheduled a public hearing on the Program Modification and TIF Plan upon published notice as required by law. NOW, THEREFORE, BE IT RESOLVED by the St. Anthony Housing & Redevelopment Authority (the “HRA”) as follows: 1.The HRA hereby recommends that the City finds that the Program Modification and TIF Plan conforms in all aspects to the requirements of the Act and will increase the availability of safe and decent life- cycle housing in the City and that the adoption of the proposed Program Modification and TIF Plan will help provide employment opportunities in the State and preserve and enhance the tax base of the City and the State and thereby serves a public purpose. 2.The HRA further recommends that the City finds that the Program Modification and TIF Plan will afford maximum opportunity, consistent with the sound needs of the City as a whole, for the development or redevelopment of Redevelopment Project Area No. 3 by private enterprise in that the intent is to provide only that public assistance necessary to make the private developments financially feasible. Financial estimates of constructing life-cycle housing make the proposed project cost prohibitive without substantial public assistance. 3.The HRA hereby approves the Program Modification and TIF Plan, as presented to the HRA on this date, and recommends that they be established and adopted by the City Council of the City. Approved by the St. Anthony Housing & Redevelopment Authority this 23rd day of March, 2021. _______________________________ Chair ATTEST: _________________________ City Clerk 75