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  <br />  <br />  <br />  <br />Municipal Action Taken <br /> <br />Based upon the statutory authority described in the Development Program attached hereto, the <br />public purpose findings by the City Council and for the purpose of fulfilling the City's development <br />objectives as set forth in the Development Program, the City Council has created, established <br />and designated Development District No. 1 pursuant to and in accordance with the requirements <br />of Minnesota Statutes, Sections 469.124 through 469.134. <br /> <br />The following municipal action was taken in connection therewith: <br /> <br />June 26. 1989: The Development Program for Development District No. 1 was adopted by the <br />City Council. <br /> <br />April 26, 1993: The Development Program for Development District No. 1 was modified by the <br />City Council. <br /> <br />May 27, 1997: The Development Program for Development District No.1 was modified to expand <br />the boundaries and revise the budget and project costs. <br /> <br />The following municipal action was taken with regard to the Tax Increment Financing District(s) <br />located within Development District No. 1: <br /> <br />Tax Increment Financing District No. 1 (Economic District - Round Lake Housing): <br /> <br />June 26, 1989: The Tax Increment Financing Plan for Tax Increment Financing District No. 1 was <br />adopted by the City Council. <br /> <br />May 27, 1997: The Tax Increment Financing Plan for Tax Increment Financing District No. 1 was <br />modified by the City Council to revise the budget and project costs. <br /> <br />Tax Increment Financing District No. 2 (Redevelopment District Round Lake Office Park): <br /> <br />June 26 1989: The Tax Increment Financing Plan for Tax Increment Financing District No. 2 was <br />adopted by the City Council. <br /> <br />April 26, 1993: The Modified Development Program for Development District No. 1 was approved <br />by the City Council. <br /> <br />May 27, 1997: The Tax Increment Financing Plan for Tax Increment Financing District No. 2 was <br />modified by the City Council to revise the budget and project costs. <br /> <br />The following municipal action was taken with regard to Tax Increment Financing District No. 3 <br />located within Development District No. 1: <br /> <br />Tax Increment Financing District No. 3 (Housing District -Cottage Lifestyles Housing): <br /> <br />April 26, 1993: The Tax Increment Financing Plan for Tax Increment Financing District No. 3 was <br />adopted by the City Council. <br /> <br />May 27, 1997: The Tax Increment Financing Plan for Tax Increment Financing District No. 3 was <br />modified by the City Council to revise the budget and project costs. <br /> <br /> <br />