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~ ~,. ,,' ,,",' -',:/ Council Member Williams 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. 96-025 A RESOLUTION MODIFYING THE DEVELOPMENT PROGRAM FOR DEVELOPMENT DISTRICT NO. I, MODIFYING THE TAX INCREMENT FINANCING PLANS FOR TAX INCREMENT FINANCING DISTRICTS NOS. 1 - 20, 23, AND 24 TO REFLECT INCREASED PROJECT COSTS WITHIN DEVELOPMENT DISTRICT NO. 1 AND CREATING PROPOSED TAX INCREMENT FINANCING DISTRICT NO. 25 AND APPROVING AND ADOPTING THE PROPOSED TAX INCREMENT FINANCING PLAN RELATING THERETO. BE IT RESOLVED by the City Council (the "Council") of the City of New Brighton, Minnesota (the "City"), as follows: Section 1. Recitals. 1.01. It has been proposed that the Council modify, approve and adopt the Development Program for Development District No. 1 (the "Project Areall) to reflect increased project costs, pursuant to and in accordance with Minnesota Statutes, Sections 469.124 to 469.134, inclusive, as amended and supplemented from time to time. 1.02. It has been further proposed that the Council modify, approve and adopt the Tax Increment Financing Plans for Tax Increment Financing Districts Nos. 1 - 20, 23 and 24 (the "Existing TIF Districts ") to reflect increased proj ect costs within the Project Area, pursuant to Minnesota Statutes, Section 469.174 through 469.179, inclusive, as amended and supplemented from time to time. 1.03. It has been further proposed that the Council approve the creation of Tax Increment Financing District No. 25 (the II Proposed TIF District ") and approve and adopt the proposed Tax Increment Financing Plan relating thereto, pursuant to and in accordance with Minnesota Statutes, Section 469.174 to 469.179, inclusive, as amended and supplemented from time to time. 1.04. The Council has caused to be prepared and has investigated the facts with respect thereto, a modified Development Program for the Project Area and modified Tax Increment Financing plans for the Existing TIF Districts to reflect increased project costs within the Project Area and a proposed Tax Increment Financing Plan for the Proposed TIF District, defining more precisely the properties to be included, the public costs to be incurred and other matters relating thereto.