7A, Tax Increment Financing for District #3

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Council member CITY OF ARDEN HILLS RAMSEY COUNTY STATE OF MINNESOTA introduced the following resolution and moved its adoption: RESOLUTION NO.2009-042 RESOLUTION ADOPTING A MODIFICATION TO THE DEVELOPMENT PROGRAM FOR DEVELOPMENT DISTRICT NO. 1; AND A MODIFICATION TO THE TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT. FINANCING DISTRICT NO.3. BE IT RESOLVED by the City Council of the City of Arden Hills, Minnesota, as follows: Section 1. Recitals 1.01. The City Council ("Council") of the City of Arden Hills, Minnesota ("City") has heretofore established Development District No. 1 (the "Project Area") and adopted a Development Program therefor. It has been proposed that the City adopt a Modification to the Development Program (the "Development Program Modification") for the Project Area and a Modification to the Tax Increment Financing Plan (the "TIF Plan Modification") for Tax Increment Financing District No. 3 (the "TIF District") therein (the Development Program Modification and the TIF Plan Modification are referred to collectively herein as the "Modifications"), all pursuant to and in conformity with applicable law, including Minnesota Statutes, Sections 469.124 to 469.134 and Sections 469.174 to 469.1799, all inclusive, as amended, (the "Act") all as reflected in the Modifications, and presented for the Council's consideration. 1.02. The City has investigated the facts relating to the Modifications and has caused the Modifications 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 proposed Modifications, including, but not limited to, notification of Ramsey County and Independent School District No. 621, having taxing jurisdiction over the property in the TIF District, a review of and written comment on the Modifications by the City Planning Commission, and the holding of a public hearing upon published notice as required by law. 1.04. The City is not modifying the boundaries of the Project Area or the TIF Districts. Section 2. Findings for the Development Program Modification 2.01. The Council hereby finds that: (a) the land within the Project Area would not be available for development or redevelopment without the financial aid to be sought under the Development Program Modification; (b) the Development Program Modification will afford maximum opportunity, consistent with the needs of the City as a whole, for the development of the Project Area by private enterprise; and (c) the Development Program Modification conforms to the general plan for the development of the City as a whole. 2.02. These findings are based on the facts and conditions described in the Development Program Modification, which is incorporated herein by reference.