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<br />,) <br /> <br />Councilmember Gunderman introduced the <br />following resolution, the reading of which was dispensed with by <br />unanimous consent, and moved its adoption: <br /> <br />CITY OF NEW BRIGHTON <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION NO. 90-31 <br /> <br />A RESOLUTION MODIFYING THE DEVELOPMENT PROGRAM FOR DEVELOPMENT <br />DISTRICT NO. 1 AND MODIFYING THE TAX INCREMENT FINANCING PLANS <br />FOR TAX INCREMENT FINANCING DISTRICTS NO.1 THROUGH NO. 17 TO <br />REFLECT INCREASED PROJECT COSTS WITHIN DEVELOPMENT DISTRICT <br />NO. 1 AND CREATING PROPOSED TAX INCREMENT FINANCING DISTRICT <br />NO. 18 AND APPROVING AND ADOPTING THE PROPOSED TAX INCREMENT <br />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 <br />Development District No. 1 to reflect increased project costs and <br />approve and adopt a Modified Development Program relating thereto, <br />pursuant to and in accordance with Minnesota statutes, Sections <br />469.124 to 469.134, inclusive, as amended and supplemented from <br />time to time. <br /> <br />1.02. It has been further proposed that the Council modify <br />Tax Increment Financing Districts No.1 through No. 17 to reflect <br />increased project costs within Development District No. 1 and <br />approve and adopt Modified Tax Increment Financing Plans relating <br />thereto, pursuant to Minnesota statutes, Section 469.174 through <br />469.179, inclusive, as amended and supplemented from time to time. <br /> <br />1.03. It has been further proposed that the Council approve <br />the creation of proposed Tax Increment Financing District No. 18 <br />and approve and adopt the proposed Tax Increment Financing Plan <br />relating thereto pursuant to and in accordance with Minnesota <br />Statutes, Section 469.174 to 469,179, inclusive, as amended and <br />supplemented from time to time. <br /> <br />1 <br />