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CITY OF NEW BRIGHTON <br />RAMSEYCOUNTY <br />STATE OF MINNESOTA <br />RESOLUTION NO.10-079 <br />RESOLUTION APPROVING A SPENDING PLAN FOR TAX <br />INCREMENT FINANCING DISTRICTS NO. 23, NO. 25, NO. 27, NO. 28, <br />NO. 30 AND NO. 33 IN THE CITY <br />BE IT RESOLVED by the City Council (the "City Council") of the City of New Brighton <br />(the "' City'% Ramsey County, Minnesota as follows: <br />Section 1. Background; Findings. <br />(a) The City has previously established Tax Increment Financing Districts No. 23, <br />No. 05, No. 27, No. 28, No. 30 and No. 33 (the "TIF Districts") and adopted the tax increment <br />fina*{ ing plans therefor (the "TIF Plans"). <br />(b) The City has proposed to adopt a spending plan for the TIF Districts in accordance <br />innesota Statutes, Section 469.176 Subd. 4m (the "Spending Plan") to utilize existing tax <br />,nt revenues from the TIF Districts in order to stimulate construction or rehabilitation of <br />development in a way that will also create or retain jobs. <br />(c) The City has performed all actions required by law to be performed prior to the <br />app val of the Spending Plan including, but not limited to, causing notice of a public hearing to <br />be blished and holding public hearings on the date hereof on the adoption of the Spending <br />Section 2. Approval of the Spending Plan, Program Policy, and Amendment. <br />(a) The Spending Plan for the TIF District is hereby approved and adopted. <br />(b) The City is hereby authorized to carry out the terms of the Spending Plan. <br />)atj�: November 23, 2010 <br />D en, Mayor <br />04 "- Dean R. Lotter, City <br />>��1 A 13c'rdiers. <br />)ire�fil`tor of Finance/City Clerk <br />pT INT \ <br />I: \ CC[QNCIL \ REPORTS \ 2010\ Community Development \ 11-23-2010 \Res Adopting TIF Spending Plan (11-2010).doe <br />