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Resolution 2006-18 <br />Page 2 <br />3. The City intends to demolish the Building and the City intends to subsequently <br />include the Parcel in a redevelopment tax increment district established pursuant to Minnesota <br />Statutes, Section 469.174, subdivision 10, which TIF District, if established, shall be established <br />within three years of the date hereof. <br />4. The City Administrator is hereby authorized and directed to demolish the <br />Buildings. <br />5. Upon filing the request for certification of the tax capacity of the Parcels as part <br />of the TIF District, the City will notify the county auditor that the original tax capacity of the <br />Parcels must be adjusted as provided in Minnesota Statutes, Section 469.177, Subdivision 1, <br />Paragraph (f). <br />Passed and adopted by the City Council of the City of Hugo, Minnesota, this 17th day of <br />April, 2006. N <br />M <br />Attest: <br />i <br />City Administrator <br />1884551y1 2 <br />