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3. That the Planning Commission has reviewed the redevelopment proposals and that the tax increment financing plan conforms to the general plan for the development of the municipality as a whole. 4. That each of the redevelopment proposals involves a substantial commitment of private investment and in conjunction with tax increments as identified in the tax increment financing plan will afford maximum opportunity, consistent with sound needs of the City for the redevelopment of the project by private enterprise. AND BE IT FURTHER RESOLVED BY THE CITY COUNCIL OF THE CITY OF ROSEVILLE: 1. That the City Manager of the City of Roseville is hereby authorized and directed to submit to the Ramsey County Auditor, along with the City's request for certification of the original assessed value, a list of all properties within the tax increment district for which building permits have been issued during the 18 months immediately preceding the approval of the tax increment financing plan and that the Ramsey County Auditor is hereby requested to certify the assessed value of all real property within the boundaries of the tax increment redevelopment district as described in the attached tax increment financing plan as of the date of the last equalized assessment, and each year hereafter to certify the amount by which the assessed value has increased or decreased from the original assessed value and also to certify the proportion which any increase or decrease bears to the total assessed value for the real property in said tax increment financing district for that year, and also to remit to the City of Roseville each year hereafter, that proportion of all taxes paid that year on real property in the district which the captured assessed value bears to the total current assessed value, all pursuant to Minnesota Statutes, Section 273.76, Subdivision 1 and 2; 2. That the City Council of the City of Roseville, does hereby approve the designation and establishment of Municipal Development District #3 and adopts the development district plan and development program for said district; 3. That the City Council does hereby approve the Contract for Private Redevelopment between the City and The Housing Alliance substantially in the form presented to the Council and authorizes any additional changes which may be made to be approved by the City Attorney and authorizes the Mayor and the City Manager to execute said contract on behalf of the City; and 4. That the City Manager is hereby authorized and directed to file a copy of the tax increment financing plan with the Commissioner of the Minnesota Department of Energy and Economic Development. Adopted by the City Council this 24th day of September, 1984. ~ 1 ,tc r ,--e, '/C:-l..Lc7.?}- ,-tJ'--~/' Mayor ATTEST: "",f~c'''' /1(.,/.'.,<./ ,_ . ~"","';-.-,l...,,~'t~o.;;:'~_,__t-., City Clerk 3