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EXTRACT OF MINUTES OF MEETING OF THE CITY COUNCIL OF THE CITY OF ROSEVILLE Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of Roseville, County of Ramsey, Minnesota was duly held on the 15th day of June, 2009, at 6:00 p.m. The following members were present: Johnson, Ihlan, Roe, and Klausing. and the following were absent: Pust. Member Roe introduced the following resolution and moved its adoption: RESOLUTION NO. 10715 RESOLUTION MAKING CERTAIN FINDINGS WITH RESPECT TO SUBSTANDARD BUILDINGS IN THE TWIN LAKES REDEVELOPMENT AREA (REDEVELOPMENT PROJECT) WHEREAS, the City of Roseville, Minnesota (the "City") may consider creating a tax increment financing district including the parcels described on Exhibit A attached hereto (the "Parcels") as a "redevelopment district" to encourage redevelopment of the Parcels by private enterprise (collectively, the "Redevelopment Project"); WHEREAS, the condition of certain substandard buildings also described on Exhibit A attached hereto located on the Parcels (the "Buildings") may be demolished prior to the creation of a tax increment financing district; WHEREAS, Minnesota Statutes, Sections 469.174 to 469.1799 (the "Tax Increment Act") provides that a City may create a tax increment financing district (the "TIF District") as a "redevelopment district" if the City finds by resolution that parcels consisting of 70% of the area of the TIF District are occupied by buildings, streets, utilities or other improvements, and more than 50% of the buildings, not including out buildings, are structurally substandard to a degree requiring substantial renovation or clearance; WHEREAS, Minnesota Statutes, Section 469.174, subdivision 10(d), provides, among other things, that a parcel may be deemed to be occupied by a structurally