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HOUSING AND REDEVELOPMENT AUTHORITY OF ST. ANTIMONY <br />CITY OF ST, ANTHONY <br />HENNEPIN AND RAMSEY COUNTIES <br />STATE OF MINNESOTA <br />RESOLUTION NO, 06-010 <br />RESOLUTION RELATING TO THE REIMBURSEMENT OF QUALIFIED COSTS IN TIF <br />DISTRICT NO. 3-5 NOT ORIGINALLY OUTLINED IN THE REDEVELOPMENT <br />CONTRACT <br />WHEREAS, the City of St. Anthony (the "City") and the St. Anthony Housing and <br />Redevelopment Authority (the "Authority") entered into a Redevelopment Agreement, dated December <br />19, 2003, regarding an area located in the northwest portion of the City (as amended, the <br />"Redevelopment Agreement"); and <br />WHEREAS, the City and .Authority were required to install various public improvements <br />including roadways, sidewalks, lighting, landscaping, etc; and <br />. WHEREAS, it was agreed to that if these expenditures exceeded available revenue to the City <br />and Authority that the developer would pay for these qualified costs and the Authority would reimburse <br />the developer through additional tax increment, if available; and <br />WHEREAS, the developer has paid for such qualified cost expenditures in the amount of <br />$360,777 and is seeking reimbursement from the Authority in this amount; and <br />WHEREAS, this expenditure is consistent with the TIP Plan; and <br />WHEREAS, the Authority has verified that these costs have been expended and has determined <br />that sufficient increment is available to reimburse the developer for these costs.' <br />NO',THERE`®RE, BE IT RESOLVED, by the Housing and Redevelopment Authority of the <br />City of St. Anthony as follows: <br />1. The Executive Director is hereby authorized and directed on behalf of . the Authority to <br />reimburse the developer for the qualified costs as reported. <br />Approved by the Board on July 25, 2006. <br />Chair <br />Executive Director <br />6 <br />