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City of Arden Hills Tax Increment Financing District No. 5: TCAAP 5 3. Upon approval of a developer's plan relating to the project and completion of the necessary legal requirements, the City may sell to a developer selected properties that it may acquire within the District or may lease land or facilities to a developer. 4. The City may perform or provide for some or all necessary acquisition, construction, relocation, demolition, and required utilities and public street work within the District. Description of Property in the District and Property to be Acquired The District encompasses all property and adjacent rights-of-way and abutting roadways identified by the parcel listed below. Parcel number Address Owner 163023210001 N/A Ramsey Co. 093023320001 N/A Ramsey Co. Please also see the map in Appendix A for further information on the location of the District. The property will be replatted for development of the various uses by the master developer in the future. The City anticipates that it will decertify many of the newly platted parcels from the TIF district as assistance will not be required for some of the uses (i.e. for-sale housing, big box retail/retail, hotel, theater, etc.). The City reserves its right to determine which future parcels will remain in the TIF District. The City may acquire any parcel within the District including interior and adjacent street rights of way. Any properties identified for acquisition will be acquired by the City only in order to accomplish one or more of the following: storm sewer improvements; provide land for needed public streets, utilities and facilities; carry out land acquisition, site improvements, clearance and/or development to accomplish the uses and objectives set forth in this plan. The City may acquire property by gift, dedication, condemnation or direct purchase from willing sellers in order to achieve the objectives of this TIF Plan. Such acquisitions will be undertaken only when there is assurance of funding to finance the acquisition and related costs. Classification of the District The City, in determining the need to create a tax increment financing district in accordance with M.S., Sections 469.174 to 469.1794, as amended, inclusive, finds that the District, to be established, is a redevelopment district pursuant to 2009 Minnesota Session Laws, Chapter 88, Article 5, Section 16, Subdivision 2 (a)(1). Pursuant to M.S., Section 469.176, Subd. 7, the District does not contain any parcel or part of a parcel that qualified under the provisions of M.S., Sections 273.111, 273.112, or 273.114 or Chapter 473H for taxes payable in any of the five calendar years before the filing of the request for certification of the District.