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EXTRACT OF MINUTES OF MEETING <br /> OF THE <br /> CITY COUNCIL OF THE CITY OF ROSEVILLE <br /> * * * * * * * <br /> Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of <br /> Roseville, County of Ramsey, Minnesota was duly held on the 21st day of July, 2014, at 6:00 <br /> p.m. <br /> The following members were present McGehee, Willmus, Laliberte, Etten, and Mayor Roe; <br /> and the following were absent: None. <br /> Member Willmus introduced the following resolution and moved its adoption: <br /> RESOLUTION No. 11166 <br /> RESOLUTION APPROVING USE OF POOLED TAX INCREMENT FOR <br /> LAND ACQUISITION AND DEMOLITION IN CONNECTION WITH <br /> REDEVELOPMENT <br /> WHEREAS,the City of Roseville("City")previously established and currently administers <br /> Tax Increment Financing Districts No. 10 and 12 (the "T1F Districts") within Redevelopment <br /> Project No. 1 (the"Redevelopment Project"); and <br /> WHEREAS, to facilitate redevelopment of certain property in the Redevelopment Project, <br /> the City and the Housing and Redevelopment Authority in and for the City of Roseville (the <br /> "Authority") propose to negotiate and enter into a Purchase and Redevelopment Contract (the <br /> "Contract") between the Authority, the City, and Greater Metropolitan Housing Corporation (the <br /> "Redeveloper"), under which among other things the City will convey certain property (the "City <br /> Property")to the Authority, and the Authority will convey the City Property, as well as certain other <br /> Authority-owned property (the "Authority Property"), to the Redeveloper for the construction of <br /> owner-occupied market-rate housing; and <br /> WHEREAS, the parties to the Contract wish to provide for the use of pooled tax increment <br /> from the TIF Districts to pay or reimburse the costs of land acquisition and/or demolition of existing <br /> structures by the Redeveloper in connection with redevelopment of the City Property and Authority <br /> Property. <br /> NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Roseville <br /> as follows: <br /> 1. The Council ratifies its approval of the use of pooled tax increment from the TIF <br /> Districts to pay or reimburse the costs of land acquisition and/or demolition for redevelopment <br />