85-121 - Laserfiche WebLink

Home Browse Search

~ ,. .. '" .~ Councilmember Harcus 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. 85-121 RESOLUTION APPROVING THE MODIFICATION OF DE- VELOPMENT DISTRICT NO. 1 AND THE DEVELOPMENT PROGRAM RELATING THERETO, THE AMENDMENT OF TAX INCREMENT FINANCING DISTRICTS NO. 1 THROUGH NO. 7 TO REFLECT THE ENLARGEMENT OF DEVELOP- MENT DISTRICT NO.1, AND ESTABLISHING TAX INCREMENT FINANCING DISTRICT NO. 8 AND APPROVING THE TAX INCREMENT FINANCING PLAN RELATING THERETO 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 modify by enlargement Development District No.1, amend Tax Increment Financing Districts No. 1 through No. 7 to reflect the en- largement of Development District No.1, and establish Tax Increment Financing District No. 8 therein and approve and adopt a Modified Development Program and proposed Tax Incre- ment Financing Plan wi th 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, defining more precisely the property to be added to Development District No. 1 and descr ibing the act ion to be undertaken by the Ci ty to aid the development of Development District No.1, and has caused to be prepared a proposed Tax Increment Financing Plan defining more precisely the property to be included in Tax Increment Financing District No. 8 and other matters relating thereto.