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<br />Financing Plans relating thereto and establish Tax Increment <br />Financing District No. 4 therein and approve and adopt a proposed <br />Tax Increment Financing Plan with respect thereto, all pursuant <br />to and in accordance with Minnesota Statutes, Chapter 472A, <br />as amended, and Minnesota Statutes, Sections 273.71 to 273.78, <br />inclusive, as amended (the "Tax Increment Financing Act"). <br /> <br />B. The Council has investigated the facts and has caused <br />to be prepared a Modified Development Program for Development <br />District No.1, increasing the size of Development District <br />No. 1 and Tax Increment Financing Plans for Tax Increment Financing <br />Districts No.1, 2 and 3 and has caused to be prepared a proposed <br />Tax Increment Financing Plan for Tax .Increment Financing District <br />No.4. <br /> <br />C. The City has performed all actions required by law to <br />be performed prior to the modification of Development District <br />No.1 and Tax Increment Financing Districts No.1, 2 and 3, <br />the modification of the Development Program and Tax Increment <br />Financing Plan relating thereto, and the establishment of Tax <br />Increment Financing District No. 4 and the adoption of the proposed <br />Tax Increment Financing Plan relating thereto, including, but <br />not limited to, notification of Ramsey County and Independent <br />School Districts No. 621 and 623 and Special Intermediate School <br />District No. 916, a review by the City Planning Commission <br />of the proposed Development Program for Development District <br />No. 1 and the holding of a public hearing upon published and <br />mailed notice as required by law. <br /> <br />NOW THEREFORE, BE IT RESOLVED, by the City Council of the <br />City of Roseville as follows: <br /> <br />1. The Council hereby finds that the modification of the Development <br />District Program for Development District No.1, as modifIed <br />and the modification of the Tax Increment Financing Plans for <br />Tax Increment Financing Districts No.1, 2 and 3, and the creation <br />of Tax Increment Financing District No. 4 are intended and, <br />in the judgment of this Council, its effect will be, to provide <br />an impetus for commercial development in the City, to increase <br />employment and otherwise promote certain public purposes and <br />accomplish certain objectives as specified in the modified Development <br />Program and modified Tax Increment Financing Plans for Tax Increment <br />Financing Districts No.1, 2 and 3 and the Tax Increment Financing <br />Plan for Tax Increment District No.4. <br /> <br />-2- <br />