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., .....: #l.A;.f"~; .. ~ I !I \, H I' i I I I Ii !I l' ,! II I I !i II II I. I, I Ii II l! I' II I: Ii II II h I! II II B f~ I; I I , ,.p,--., ~ RESOLUT ION NO 2486 STATE OF MINNESOTA COUNTY OF RAMSEY CITY OF NEW BRIGHTON RESOLUTION .MAKING FINDINGS OF FACT AND APPROVING THE NEW BRIGHTO TAX INCREMENT FINANCE PLAN WHEREAS, the City Council is interested ;n redeveloping the area known as old downtown New Brighton, and WHEREAS, landowners, developers. civic organizations. businessmen and citizens have expressed interest in the redevelopment effort, and WHEREAS. the City Council has taken numerous positive steps to redeve 1 op the downtown area, as out 1 i ned in the acc'ompanyi n9 resolution approving the New Brighton Downtown Development Plan, and WHEREAS, the City Countil has carefully considered several financing alternatives. and WHEREAS. the only apparent viable financing alternative to spur private development is the prudent use of Tax Increment Financing. NOW THEREFORE BE IT RESOLVED that the City Council makes the following findings: 1. That the attached is the New Brighton Tax Increment Finance Plan prepared pursuant to Minnesota Statutes 1978, Chapter 273 as amended. 2 . That t h eC i t Y Council held a p iii b1 i c i n f 0 t mat !j 0 n a1 . meeting on June 24. 1981 to review the Tax Increment Finance Plan. All present were given an opportunity to be heard. 3. That pursuant to published notice the City Council held a public hearing on July 23, 1981 to consid~r the Tax Increment Plan. and continued the public hearing until August 11. 1981. All persons present at the public hearing were given an opportunity to be heard. 4. That the project comprising the proposed tax increment financing district i.s a rede~elopment project as de fin e din S e c t.i 0 n 2 7 3 . 7 3 , Sub div i s ion 1 0 () f the Minnesota Tax Increment financing Act for the reasons as deta.i1ed in Sect.ion Kaf the acc:omp.anying Tax Increment:Fi~ancing Plan. 5. That the proposed redevelopment, in the opinion of the City Council', would not OCcur solely through private investme~t within the reasonably foreseeable future and therefore the use of tax increment financing is deemed necessary. 6. That the Tax Increment Financing Plan conforms to the Downtown Development Plan and to the Comprehensive Plan for the City as a whole. 7. That the Tax Increment Financing Plan will afford maximum opportunity. consistent with the sound needs of the City of New Brighton as a whole. for the redevelopment of the district by private enterprise. ! ~ II II Ii Ii II I' ! 1 p II I i H "/ I! 1\,1 j !' I! Ii 1\ ! d