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CITY OF NEW BRIGHTON RAMSEY COUNTY STATE OF MINNESOTA RESOLUTION NO. 12-085 RESOLUTION ADOPTING A MODIFICATION TO THE DEVELOPMENT PROGRAM FOR DEVELOPMENT DISTRICT NO. 1 AND A MODIFICATION TO THE TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 8. BE IT RESOLVED by the City Council ("Council") of the City of New Brighton, Minnesota '), as follows: Recitals 1.01. The Council has heretofore established Development District No. 1 (the "Development Dist ' t) and adopted a Development Program thereof. It has been proposed that the City adopt a M& ' kation to the Development Program (the "Development Program Modification") for the Dev opment District and a Modification to the Tax Increment Financing Plan (the "TIF Plan") for Tax Incr ent Financing District No. 8 (the "TIF District") (which are referred to collectively herein as the "M ifications"), all pursuant to and in conformity with applicable law, including Minnesota Statutes, Sect ns 469.124 to 469.133 and Sections 469.174 to 469.1799, all inclusive, as amended, (the "Act") all a reflected in the Modifications, and presented for the Council's consideration. 1.02. The City has investigated the facts relating to the Modifications and has caused the Ettions to be prepared. 1.03. The City has performed all actions required by law to be performed prior to the adoption and approval of the proposed Modifications, including, but not limited to, notification of Ramsey County and I rdependent School District No. 621, having taxing jurisdiction over the property in the TIF District, and t E e holding of a public hearing upon published notice as required by law. 1.04. The City is not modifying the boundaries of the Development District or the TIF District. 1.05. The City is not extending the duration of the TIF District. 2. Findings for the Modifications to the TIF Plan 11 2.01 The Council hereby reaffirms the original findings for the TIF District, namely that when it wa� established, it was established as a "redevelopment district". 2.02 The modifications to the TIF Plan are being completed to clarify the duration of the TIF 11strict, amend the budget to reflect actual increment received to date and expected to be received, and tc authorize the use of tax increments from the TIF District to be spend within the Development Distrht and to authorize acquisition of parcels within the Development District. 2.03 The modifications to the TIF Plan conform to the general plan for development or rede lopment of the City as a whole. The fact supporting this finding is that the modifications to the TIF Plan will generally complement and serve to implement policies adopted in the City's comprehensive plan.