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<br />..~ <br /> <br />. . <br /> <br />~' <br />.....J _ <br /> <br />Council Member La r!'l on introduced the following resolution, the reading of <br />which was dispensed with by unanimous consent, and moved its adoption: <br /> <br />CITY OF NEW BRIGHTON <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION NO. 9q-()')6 <br /> <br />A RESOLUTION MODIFYING THE DEVELOPMENT PROGRk\1 FOR <br />DEVELOPMENT DISTRICT NO.1, MODIFYING THE TAX INCREMENT FIl'LA....'NCING <br />PLANS FOR TAX INCREME~l FINANCING DISTRICTS NOS. 1 - 20, 23, ANi) 25 - 28, <br />CREATING TAX INCRE:MENT FINANCING DISTRICT NO. 29 AND ADOPTING THE <br />TAX INCREMENT FINANCING PLAN RELATING THERETO. <br /> <br />BE IT RESOLVED by the City Council (the "Council") of the City of New Brighton, <br />Minnesota (the "City"), as follows: <br /> <br />Section 1. Recitals. <br /> <br />1.01. It has been proposed that the Council approve and adopt the proposed <br />modification to the Development Program (the "Program") for Development District No.1 (the <br />"Project Area") reflecting increased project costs and increased bonding authority, pursuant to <br />and in accordance with Minnesota Statutes, Sections 469.124 to 469.134, inclusive, as amended <br />and supplemented from time to time. <br /> <br />1.02. It has been proposed that the Council approve and adopt the proposed <br />modifications to the Tax Increment Financing Plans (the "Existing TIP Plans'') for Tax <br />Increment Financing Districts Nos. 1 - 20, 23, and 25 - 28 (the "Existing TIP Districts") <br />reflecting increased project costs and increased bonding authority within the Project Area, <br />pursuant to Minnesota Statutes, Sections 469.174 to 469.179, inclusive, as amended and <br />supplemented from time to time. <br /> <br />1.03. It has been proposed that the Council approve the creation of proposed Tax <br />Increment Financing District No. 29 (the "Proposed TIP District") and approv~ and adopt the <br />proposed Tax h1crement Financing Plan (the "Proposed TIF Plan") relating thereto, pursuant to <br />and in accordance with Minnesota Statutes, Sections 469.174 to 469.179, inclusive, as amended <br />and supplemented from time to time. <br /> <br />1.04. The Council has caused to be prepared and has investigated the facts with respect <br />thereto, a modified Program for the Project Area and modified Existing TIF Plans for the <br />