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<br />. , <br /> <br />" <br /> <br />. <br />~ <br /> <br />! Council Member LARSON introduced the following <br />resolution, the reading of which was dispensed with by unanimous <br />consent, and moved its adoption: <br /> <br />CITY OF NEW BRIGHTON <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION NO. 97-057 <br /> <br />A RESOLUTION MODIFYING THE DEVELOPMENT PROGRAM FOR DEVELOPMENT <br />DISTRICT NO.1, MODIFYING THE TAX INCREMENT FINANCING PLANS <br />FOR TAX INCREMENT FINANCING DISTRICTS NO. 1 THROUGH NO. 20 AND <br />DISTRICTS NO. 23 THROUGH NO. 25 TO REFLECT INCREASED PROJECT COSTS <br />WITHIN DEVELOPMENT DISTRICT NO. 1 AND CREATING PROPOSED TAX <br />INCREMENT FINANCING DISTRICT NO. 26 AND APPROVING AND ADOPTING THE <br />PROPOSED TAX INCREMENT FINANCING PLAN RELATING THERETO. <br /> <br />BE IT RESOLVED by the City Council (the "Council") of the City <br />of New Brighton, Minnesota (the "City"), as follows: <br /> <br />Section 1. <br /> <br />Recitals. <br /> <br />1.01. It has been proposed that the Council modify, approve <br />and adopt the Development Program for Development District No. 1 <br />(the "Project Area") to reflect increased project costs, pursuant <br />to and in accordance with Minnesota Statutes, Sections 469.124 to <br />469.134, inclusive, as amended and supplemented from time to time. <br /> <br />1.02. It has been further proposed that the Council modify, <br />approve and adopt the Tax Increment Financing Plans for Tax <br />Increment Financing Districts No.1 through 20 and Districts No. 23 <br />through No. 25 (the "Existing TIF Districts") to reflect increased <br />proj ect costs within the Proj ect Area, pursuant to Minnesota <br />Statutes, Section 469.174 through 469.179, inclusive, as amended <br />and supplemented from time to time. <br /> <br />1.03. It has been further proposed that the Council approve <br />the creation of Tax Increment Financing District No. 26 (the <br />"Proposed TIF District") and approve and adopt the proposed Tax <br />Increment Financing Plan relating thereto, pursuant to and in <br />accordance with Minnesota Statutes, Section 469.174 to 469~179, <br />inclusive, as amended and supplemented from time to time. <br /> <br />1.04. The Council has caused to be prepared and has <br />investigated the facts with respect thereto, a modified Development <br />Program for,the Project Area and modified Tax Increment Financing <br />Plans for the Existing TIF Districts to reflect increased project <br />costs within the Project Area and a proposed Tax Increment <br />Financing Plan for the Proposed TIF District, defining more <br />precisely the properties to be included, the public costs to be <br />incurred and other matters relating thereto. <br />