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<br />."., <br /> <br />"""""', '--t' <br /> <br />'" <br />.. <br /> <br />~. <br /> <br />~ <br /> <br />CITY OF NEW BRIGHTON <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION NO. q7~'YA <br /> <br />A RESOLUTION DETERMINING THAT CERTAIN <br />PARCELS ARE OCCUPIED BY STRUCTURALL Y <br />SUBSTANDARD BUILDINGS AND ARE TO BE INCLUDED <br />IN A TAX INCREMENT FINANCING DISTRICT <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 The City has purchased Parcel 1 below and has executed a purchase agreement for the <br />purchase of Parcel 2 below (collectively the "Parcels"): <br /> <br />1. 530 5th Ave. N.W. (known as the 530 Building): <br />PINS 29-30-23-13-0034 <br />29-30-23-13-0035 <br /> <br />2. 440 5th Ave. N.W. (known as the MacGillis & Gibbs site): <br />PINS 29-30-23-42-0002 <br />29-30-23-42-0026 <br />29-30-23-43-0006 <br /> <br />1.02 The City has proposed to redevelop the Parcels. <br /> <br />1.03 Minnesota Statutes, Sections 469.174 through 469.179, inclusive, as amended and <br />supplemented from time to time (the "Tax Increment Act") provides for the establishment of <br />a Tax Increment Financing District as a Redevelopment District. The Tax Increment Act <br />allows for the inclusion of parcels within a Redevelopment District after substandard buildings <br />have been removed by complying with Minnesota Statutes 469.174, Subd. lO(b). <br /> <br />Section 2. Findine:s. <br /> <br />2.01 The Council hereby tinds that the Parcels are part of Development District No. 1. <br /> <br />2.02 The Council hereby tinds that the acquisition and redevelopment of the Parcels further <br />