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Counci1member ~r.hmid~ introduced the following resolution, the reading of which was dispensed with by unanimous consent, and moved its adoption: CITY OF NEW BRIGHTON COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION NO. R7-7.1 RESOLUTION APPROVING THE AMENDMENT OF THE MODIFIED DEVELOPMENT PROGRAM RELATING TO DE- VELOPMENT DISTRICT NO.1, THE AMENDMENT OF TAX INCREMENT FINANCING PLANS FOR TAX INCREMENT FINANCING DISTRICTS NO. 1 THROUGH NO. 11 TO REFLECT INCREASED PROJECT COSTS AND THE ESTAB- LISHMENT OF TAX INCREMENT FINANCING DISTRICT NO. 12 AND THE ADOPTION OF THE TAX INCREMENT FINANCING PLAN RELATING THERETO BE IT RESOLVED by the City 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 Ci ty amend the Modified Development Program relating to its Development District No. 1 to reflect increased project costs, amend the Tax Increment Financing Plans for Tax Increment Financing Districts No. 1 through No. 11 to reflect increased project costs, and establish Tax Increment Financing District No. 12 within Development District No. 1 and adopt the proposed Tax Increment Financing Plan with respect thereto, all pursuant to and in accordance with Minnesota Statutes, Chapter 472A, as amended, and Minnesota Statutes, Sections 273.71 to 273.78, inclusive, as amended. 1.02. The Council has investigated the facts and has caused to be prepared a proposed Modified Development Pro- gram for Development District No.1, describing the action to be undertaken by the Ci ty to aid the development of Development Distr ict No.1, and has caused to be prepared the proposed Tax Increment Financing Plan defining more precisely the property to be included in Tax Increment Financing District No. 12, and other matters relating thereto. 1.03. The City has performed all actions required by law to be performed prior to the amendment of the Modified '.... .~~~