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" , ~ . l !: .." } CITY OF NEW BRIGHTON COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION NO. 87-122 RESOLUTION APPROVING DEVELOPMENT DISTRICT AND TAX INCREMENT FINANCING AMENDMENTS BE IT RESOLVED by the Ci ty Council (the "Council") of the Ci ty of New Br ighton, Minnesota (the "Ci ty"), as fol- lows: Section 1. Recitals. 1.01. It has been proposed that the city amend the Modified Development Program relating to its Development District No. 1 to reflect increased project costs, enlarge the Development Distr ict, enlarge Tax Increment Financing District No.5, amend the Tax Increment Financing Plans for Tax Increment Financing Districts No. 1 through No. 12 to reflect increased project costs, and establish Tax Increment Financing District No. 13 within Development District No. 1 and adopt the proposed Tax Increment Financing Plan wi th respect thereto (collectively, the "Plans"), all pursuant to and in accordance with Minnesota Statutes, Sections 469.124 to 469.134 and 469.174 to 469.179. 1.02. The Council has investigated the facts relating to the Plans and has caused the Plans to be prepared. 1.03. The City has performed all actions required by law to be performed prior to the adoption and approval of the Plans, including, but not limited to, notification of Ramsey County and School District No. 621, a review by the City Planning Commission of the Plans, and the holding of a public hearing thereon fOllowing published notice as required by law. Section 2. the Plans. Findings for the Adoption and Approval of 2.01. The Council hereby finds that Tax Increment Financing District No. 13 is a redevelopment distr ict, as defined in Minnesota Statutes, Section 469.174, Subdivision 10(a) (1) and (2) due to the hazardous and/or substandard condition of the structures thereon. 2.02. The Council further finds that the proposed de- velopment would not occur solely through private investment - 2 -