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12-085
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12-085
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11/7/2018 2:05:53 PM
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12/5/2012 7:48:08 AM
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TIF <br />2.04 The modifications to the TIF Plan will afford maximum opportunity, consistent with the <br />needs of the City as a whole, for the development or redevelopment of the Development District by <br />enterprise. The facts supporting this finding are that the modifications to the TIF Plan will <br />ue the redevelopment by private enterprise that has been stimulated under the original plan for the <br />2.05 The Council further finds the future redevelopment, in the opinion of the City, would not <br />ably be expected to occur solely through private investment within the reasonably foreseeable <br />and therefore the use of tax increment financing is deemed necessary. <br />3. Public Purpose <br />3.01. The adoption of the Modifications conform in all respects to the requirements of the Act <br />and will help fulfill a need to redevelop an area of the State which is already built up, to provide <br />emp] dyment opportunities, to provide housing opportunities, to improve the tax base and to improve the <br />gene r al economy of the State and thereby serves a public purpose. <br />4. Approval and Adoption of the Modifications <br />4.01. The Modifications, as presented to the Council on this date, are hereby approved, ratified, <br />and shall be placed on file in the office of City Manager. <br />4.02. The staff, the City's advisors and legal counsel are authorized and directed to proceed <br />with die implementation of the Modifications and for this purpose to negotiate, draft, prepare and present <br />to t1'; Council for its consideration all further Modifications, resolutions, documents and contracts <br />nece ary for this purpose. Approval of the Modifications does not constitute approval of any project or a <br />Devq pment Agreement with any developer. <br />4.03. The City Manager is authorized and directed to forward a copy of the Modifications to <br />the mmissioner of the Minnesota Department of Revenue and the Office of the State Auditor pursuant <br />to M i. Section 469.175, Subd. 4a. <br />4.04. The City Manager is further authorized and directed to file a copy of the Modifications <br />with 4amsey County Auditor. <br />November 13, 2012 <br />ATTEST: <br />Davc aeopn,lVlayor <br />Dani A:- Maier -9--' <br />Fina a Dlrector - <br />Dean R. Lotter, City Wanagbr <br />
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