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t <br />enterprise can occur within Development District <br />No. 1. <br />S. Public Purpose. The adoption of the Development <br />Program for Development District No. 1, and the adoption of the <br />Tax Increment Financing Plan for Tax Increment Financing District <br />No. 1-1 conform in all respects to the requirements of the Act <br />and will help fulfill a need to provide employment opportunities <br />to improve the tax base, and to improve the general economy of <br />the State and thereby serves a public purpose. <br />6. Exemption from LGA/RAGA. Pursuant to Minnesota <br />Statutes, Section 273.1399, Subdivision 6, as amended by Laws of <br />Minnesota for 1996, Chapter 471, Article 7, Section 3, the City <br />elects to make a qualifying local contribution to the project <br />from unrestricted money of the City in an amount equal to St of <br />the annual tax increments from Tax Increment Financing District <br />No. 1-1. Such local contribution shall not exceed 2W of the net <br />tax capacity of the City. <br />7. Certification. The Auditor of Washington County <br />is requested to certify the original net tax capacity of Tax <br />Increment Financing District No. 1-1 as described in the Tax <br />Increment Financing Plan, and to certify in each year thereafter <br />the amount by which the original net tax capacity has increased <br />or decreased in accordance with the Act; and the City <br />Administrator is authorized and directed to forthwith transmit <br />this request to the County Auditor in such form and content as <br />the Auditor may specify, together with a list of all properties <br />within Tax Increment Financing District No. 1-1 for which <br />building permits have been issued during the 18 months <br />immediately preceding the adoption of this Resolution. <br />8. Filing. The City Administrator is further <br />authorized and directed to file a copy of the Development Program <br />and Tax Increment Financing Plan for Tax Increment Financing <br />District No. 1-1 with the Commissioner of Revenue. <br />9. Administration. The administration of Development <br />District No. 1 is assigned to the City Administrator who shall <br />from time to time be granted such powers and duties pursuant to <br />Minnesota Statutes, Sections 469.130 and 469.131 as the City <br />Council may deem appropriate. <br />329101.1 4 <br />