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<br />approximate southern one-half of the NW Quad west of old Highway <br />8. <br /> <br />1.05. Prior to the adoption of the Resolution, the Council <br />caused to be prepared and investigated the facts with respect <br />thereto, a modified Program for the Project Area and modified <br />Existing Plans for the Existing Districts to reflect increased project <br />costs and increased bonded indebtedness within the Project Area <br />and a Plan for the District, defining more precisely the property to be <br />included, the public costs to be incurred and other matters relating <br />thereto. <br /> <br />1.06. Prior to the adoption of the Resolution, the Council <br />performed all actions required by law to be performed prior to the <br />approval and adoption of the modified Program and Existing Plans <br />and the approval and adoption of the Plan. One of the actions taken <br />by the Council in approving the Resolution was to make a finding <br />that the District (described as the Proposed District in the Resolution) <br />is a "redevelopment district" as defined in Minnesota Statutes. This <br />finding ("Finding No.1") is included in Exhibit A to the Resolution and <br />is supported by a report dated November 19, 2004 prepared by <br />Short Elliot Hendrickson, Inc. titled Redevelopment Eligibility <br />Assessment (the "Eligibility Assessment"). The Eligibility <br />Assessment determined that three of the five structures were found <br />to be structurally substandard. <br /> <br />1.07. Subsequent to the adoption of the Resolution, the City <br />purchased one of the properties in the District and instructed Short <br />Elliott Hendrickson, Inc. to make further inspections. <br /> <br />1.08. Short Elliott Hendrickson, Inc. made additional <br />inspections and prepared a Redevelopment Eligibility Assessment <br />Supplemental Report, City of New Brighton, MN, Tax Increment <br />Financing District No. 31 (NWQ Special Law) (the "Supplemental <br />Report"). <br /> <br />1.09. Pursuant to Minnesota Statutes, Section 469.175, <br />Subdivision 4, the Council hereby determines that it is necessary and <br />in the best interests of the City at this time to approve and adopt the <br />modification to Finding NO.1 and that such modification reaffirms <br />Subsection 32.15 of the Plan which states as follows: <br /> <br />2 <br /> <br />Iii <br />I <br />