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Section 1. Recitals <br />` 1.01. It has been proposed that the C' �"� <br />Increment Financing District No. 11 and No.112 eand alsri Taa�: <br />, pprov� awv.� <br />adopt a modified Development Program and proposed Tac�c•Tncrem�,� <br />Financing Plans with respect to Development � District� l�o�. L',, a�.�. <br />pursuant to and in accordance with Minnesota Statutes.,, S��� <br />469.124 through 469.134, as amended, and Minnesota �a�iiti�„ <br />Sections 469.174 through 469.179, inclusive, as amen�3i�da.. <br />1.02. The Council has investigated the facts and. has- c.�,�a,s�ed <br />to be pre�ared a modiiied Develo�ment Program for Dev��l;o�m�mr�k <br />District No. 1 and madified Ta�c Increment Financinq �1lans �r �'a�c <br />Increment Financing Districts Nos. 1 through l0, dei�inlr�gt m� <br />grecisely the in�reased prajec� costs to be included:�n, <br />D�velopment District �to. 3.� and describing the actian �o b� <br />undertaken by the City to sid �he d�velopment of D�v��lo�mer��t: <br />�is�ric� No. l, and has caus�d to be prQpared propas�d�'�a� <br />Increment Ff nancing Plans Por Tax Incr�ment Financi�y! Di���.s��s <br />No. 11 and No. 12. <br />�.03. The City has p�rformed al�. actian� rec�ui�c� b.y,� Il�� � <br />b� pe�farmed prior ta the �a4gtion of ttie modifie�d t�ve��s�gmm� <br />Pragram for Dev�lop�aen�t Di�t�ict No. 1, tho establ i�m�n�t ��c <br />Incx�ment �f��ancinq Distri�t No. 11 ar�d No. 12, �nd K�� ��r���� <br />of tt�e prop��ed Tax Incremant Finan�ing Plans r�la�iag �s� '��� <br />increment Financing Districts Nos. � throuc�h �Q, incl�u+��ir�q;,, ��t <br />� no� 1ir�it�d to, t�oti�i��tion oP R�msc�y Counit�► �nd �����,n,�m,� <br />School District �to. 621 and Spe�ial In�Qrnned�g�a 5����,� p���� <br />No. 91� e consultation s�ith tho Gity � s Flanninq Co�mi,: �iQn �a 't3�c� <br />holdinq �� a Public hear�ng upon publi�h�� ��d ma�la:'� r�o�a,�� ,� <br />��c��,r�d b�r l�w. <br />S�ction 2. <br />- ---- --.-s���.,a-aa�i�=� <br />� u = ! __��� 3 : ssi�� s,TiZ"! � � ���� <br />13�� i�!l=11L! • <br />Th� Cauncil hereby �inds th�t the �odiP���tion �� t;�e�. <br />D�velopmont Proc�ram For Dev�lopmont Qistrict P�o. 1��et ���� <br />cr�ation o� T�x Incr�mc»t �%n�ncinc� �istcict r�o. Z1 �nc� ts4. ��;� <br />ere intandQd �nd, in tha judc�ment of this Coun�ci� ��,�t� Q.����� <br />will b�, to provi�c�e an impQ�u� �or �amm�rci�J, d�v�lo�m�rc i:�� ;�e <br />�'ity, to incr�ase Qmpl��m�nt and ath����ise promot� ���,.a,�;� <br />purpos�s an�i �cc�mp2i�h cer��ain objectiv�s �s sp�cif:.L� in� ���ic <br />Dr�vQlopment �rog�i�m ar�d '��x Increment F'in�ncing Pl�r�. <br />� 1175 <br />2 <br />