Laserfiche WebLink
<br />~- !"" '::""" ~ <br /> <br />Councilmember Blomquist introduced the <br />following resolution, the reading of which was dispensed <br />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. 85-137 <br /> <br />RESOLUTION APPROVING THE ENLARGEMENT OF DE- <br />VELOPMENT DISTRICT NO. 1 AND THE AMENDMENT OF <br />THE MODIFIED DEVELOPMENT PROGRAM RELATING <br />THERETO, THE AMENDMENT OF TAX INCREMENT <br />FINANCING PLANS FOR TAX INCREMENT FINANCING <br />DISTRICTS NO. 1 THROUGH NO. 8 TO REFLECT <br />INCREASED PROJECT COSTS, THE FURTHER AMENDMENT <br />OF TAX INCREMENT FINANCING PLANS FOR TAX <br />INCREMENT FINANCING DISTRICTS NO. 1 THROUGH <br />NO. 4 TO EXTEND THE DURATION OF SAID DISTRICTS <br />AND ESTABLISHING TAX INCREMENT FINANCING DIS- <br />TRICTS NO. 9 AND NO. 10 AND APPROVING THE TAX <br />INCREMENT FINANCING PLANS RELATING THERETO <br /> <br />BE IT RESOLVED by the City Council (the "Council") of <br />the City of New Br ighton, Minnesota (the "Ci ty"), as fol- <br />lows: <br /> <br />Section 1. Recitals. <br /> <br />1.01. It has been proposed that the City modify by <br />enlargement Development District No.1, amend the Tax Incre- <br />ment Financing Plans for Tax Increment Financing Districts <br />No. 1 through No. 8 to reflect increased project. costs, <br />further amend the Tax Increment Financing Plans for Tax <br />Increment Financing Districts No. 1 through No. 4 to extend <br />the duration of said districts, and establish Tax Increment <br />Financing Districts No. 9 and No. 10 therein and approve and <br />amend Modified Development Program and adopt proposed Tax <br />Increment Financing Plans with respect thereto, all pursuant <br />to and in accordance with Minnesota Statutes, Chapter 472A, <br />as amended, and Minnesota Statutes, Sections 273.71 to <br />273.78, inclusive, as amended. <br /> <br />1.02. The Council has investigated the facts and has <br />caused to be prepared a proposed Modified Development Pro- <br />gram for Development District No. l, defining more precisely <br />the property to be added to Development District No. 1 and <br />descr ibing the action to be undertaken by the City to aid <br />