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<br />ounci! Member Mnnrp-Sykp"l introduced the following resolution, the <br />readin of which was dispensed with by unanimous consent, and moved its adoption: <br /> <br />CITY OF NEW BRIGHTON <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION NO. 05 -11 0 <br /> <br /> <br />LUTION MODIFYING THE DEVELOPMENT PROGRAM FOR DEVELOPMENT <br />CT NO.1 AND THE TAX INCREMENT FINANCING PLANS FOR TAX <br />ENT FINANCING DISTRICTS NOS. 2, 5-12, 14-20, 23 AND 25-31(NWQ <br />L LAW), CREATING HAZARDOUS SUBSTANCE SUBDISTRICT NO. 31AAND <br />ING A TAX INCREMENT FINANCING PLAN RELATING THERETO. <br /> <br />E IT RESOLVED by the City Council ("Council") of the City of New Brighton, <br />ota ("City"), as follows: <br /> <br />Recitals. <br /> <br />1.01. It has been proposed that the Council approve and adopt the modifications <br />to the evelopment Program ("Program") for Development District No. 1 ("Project Area") <br />to re ct increased project costs and increased bonded indebtedness within the NW <br />Quad as defined in Section 1.05. herein) and the Project Area, all pursuant to and in <br />accor nce with Minnesota Statutes, Sections 469.124 to 469.134, inclusive, as <br />amen ed and supplemented from time to time. <br /> <br /> <br />1.02. It has been proposed that the Council approve and adopt the modifications <br />to th Tax Increment Financing Plans ("Existing Plans") for Tax Increment Financing <br />Distri Nos. 2, 5p12, 14-20,23 and 25-30 ("Existing Districts") to reflect increased project <br />costs nd increased bonded indebtedness within the NW Quad and the Project Area, all <br />pursu nt to Minnesota Statutes, Sections 469.174 to 469.1799, inclusive, as amended <br />and s pplemented from time to time. <br /> <br />1.03. It has been proposed that the Council approve the modifications and adopt <br />a res ted Tax Increment Financing Plan ("Restated Plan") for Tax Increment Financing <br />Distri No. 31 (NWQ Special Law) ("Modified District") to reflect increased project costs <br />and i reased bonded indebtedness within the Modified District, the NW Quad and the <br />Proje Area and further, to reflect increased geographic area within the Modified District, <br />all pu uant to Minnesota Statutes, Sections 469.174 to 469.1799 and Laws of Minnesota <br />1998, Chapter 389, Article 11, Section 24 ("Special Law"), both inclusive, as amended <br />and s pplemented from time to time. <br /> <br />104. It has been proposed that the Council approve the creation of Hazardous <br />Subs nce Subdistrict No. 31A ("Subdistrict") within the Modified District, the NW Quad <br />