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Resolution 2006-55 <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 />Building. <br />5. Upon filing the request for certification of the tax capacity of the Parcel as part of <br />the TIF District, the City will notify the county auditor that the original tax capacity of the Parcel <br />must be adjusted as provided in Minnesota Statutes, Section 469.177, Subdivision 1, Paragraph <br />(fl• <br />Passed and adopted by the City Council of the City of Hugo, Minnesota, this 18th day of <br />September 2006. <br />ATTEST: <br />%�t'� <br />Mary Creager, City Clejgj <br />1884551v1 2 <br />