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1 ~ CITY OF NEW BRIGHTON COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION NO. RR-~n RESOLUTION APPROVING DEVELOPMENT DISTRICT AND TAX INCREMENT FINANCING AMENDMENTS 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 City amend the Modified Development Program relating to its Development District No. 1 to reflect increas~d project costs, enlarge the Development District, amend the Tax Increment Financing Plans for Tax Increment Financing Districts No. 1 through No. l3 to reflect increased project costs, and establish Tax Increment Financing District Nos. 14 and 15 within Development District No. 1 and adopt the proposed Tax Increment Financing Plans with respect thereto (collectively, the "plans"), all as reflected in the City's Modified Development Program for its Development District No.1, dated March 22, 1988, and presented for the Council's consideration, and all pursuant to and in accordance with Minnesota Statutes, Sections 469.124 to 469.134 and 469.174 to 469.179. l.02. The Council has investigated the facts relating to the Plans and has caused the Plans to be prepared. 1.03. The City has performed all actions required by law to be performed prior to the adoption and approval of the Plans, including, but not limited to, notification of Ramsey County and School District No. 621, a review by the City Planning Commission of the Plans, and the holding of a public hearing thereon following published notice as required by law. Section 2. Findings for the Adoption and Approval of the Plans. 2.01. The Council hereby finds that Tax Increment Financing District No. 14 is a redevelopment district, as defined in Minnesota Statutes, Section 469.174, Subdivision lO(a) (2), for the reason set forth in Section 2.02 with . .