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<br />.1, <br /> <br />I' <br /> <br />CITY OF NEW BRIGHTON <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION NO. 05-028 <br /> <br />A RESOLUTION MODIFYING A FINDING FOR THE CREATION <br />OF TAX INCREMENT FINANCING DISTRICT NO. 31 (NWQ <br />SPECIAL LAW) IN DEVELOPMENT DISTRICT NO.1. <br /> <br />BE IT RESOLVED by the City Council (the "Council") of the <br />City of New Brightonl Minnesota (the "City"), as follows: <br /> <br />Section 1. Recitals. <br /> <br />1.01. In Resolution No. 04-105 the Council on December 14, <br />2004 (the "Resolution") approved and adopted modifications to the <br />Development Program (the "Program") for Development District No. <br />1 (the "Project Area") to reflect increased project costs and increased <br />bonded indebtedness, pursuant to and in accordance with <br />Minnesota Statutes, Sections 469.124 to 469.134, inclusive, as <br />amended and supplemented from time to time. <br /> <br />1.02. In the Resolution the Council approved and adopted <br />modifications to the Tax Increment Financing Plans (the "Existing <br />Plans") for Tax Increment Financing Districts Nos. 2, 5-12, 14-20,23 <br />and 25-30 (the "Existing Districts") to reflect increased project costs <br />and increased bonded indebtedness within the Project Area, <br />pursuant to Minnesota Statutes, Sections 469.174 to 469.1799, <br />inclusive, as amended and supplemented from time to time. <br /> <br />1.03. In the Resolution the Council approved the creation of <br />Tax Increment Financing District No. 31 (NWQ Special Law) (the <br />"District") within the Project Area and approved and adopted the Tax <br />Increment Financing Plan (the "Plan") relating thereto, pursuant to <br />and in accordance with Minnesota Statutes, Sections 469.174 to <br />469.1799 . and Laws of Minnesota 1998, Chapter 389, Article 11, <br />Section 24 (the "Special Law") I both inclusive, as amended and <br />supplemented from time to time. <br /> <br />1.04. The Special Law was adopted by the Legislature and <br />approved by Ramsey County to assist the City in redeveloping the <br />area bounded on the north by the south boundary line of Tax <br />Increment District No. 8 extended to Long Lake Regional Park, on <br />the east by 1-35W, on the south by 1-694, and on the west by Long <br />Lake Regional Park (the "NW Quad"). The District is situated in the <br /> <br />IIII <br />: ~ II <br />IIII <br />I,ll <br />II', <br />