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WHEREAS, �t is desirable az�d iz� the pub�ic interest �hai th.e City undertake and carz'y a�t t�e Develc��ament Prograrr� and Tax Increment Plan as s�t forth in the arn�ndment by supplernent; ar�d WHEREAS, the �'rograrn and Plans se� forth t�e City's estxmate oi tl�e fiscal and economic irnpact o�'the amendm�nt by su�pleznent to tl�e Tax Increrraez�i P1an o� t�e net tax capacities o�all taxing jurisdictiar�s in which �he Tax I�crement District is located; and WHEREAS, �lae City Cauncil af the C�ty has cozzducted a public heari�g on apprnval c�f the �'rogram and i'lans on Decem�er 17, 2007, to review t�i� Program and Plans, �vhieh set forth both the Develnpment �'rogram and. the Taac �ncrem.ent �'Ian after publishing tiFnely natice of a p�zblic hearing an the P�ograin and Plans (together with a map of the project areas and the Tax Increment District) in the official newspaper of the City, and has solicited public camz�aez�ts on the satne, as req�ired by Minnesota Statutes, Sections 469.028, S�bdivisio� 1, 469.12fi, Su�idivision 1, and 469.175, Subdrvision 3; and WHEREAS, the County Au�itor o£ Aamsey Ca�.u�ty, Miz�t�esata, an.d tl�e Clerlc of �l�e School Board of Indep�r�dent SehQal District ��rnber 621, Minnesata, have been natifed a� least 30 days prior ta the date �ereof oi t�e public hcaz��g �'or tl�e City's review af the Program and Pla�s, and with such �otice were supplied with a draft ofi'the Program ancl P1ans; and WHEREAS, �e Develop�nen� Progra� has been submi�ted ta the Rase�zlle Planz�iz�g Commissian for its review and cnmrnen� prior to the heari�g held by the Ci�y Cnua�cil qf tl�e City, and th� City ha� recsived the wrztten eonsuitation of t�e Rose�vill� �'lanning Coanzx�issinn, as provided by Minnesota Siatutes, Sections 4�9.028, �ubdivision 1, and 469.126, Subdivisican l: NOW, THERE�`ORE, BE IT RESOLVED BY THE C�'�'Y COUNCTL OF THE CITY OF ROSEVILLE, MINNESOTA, AS �'OLLOWS: I. Need �or Develop�nent. It is hereby found and determined that there is a need �or the developzne�t activities i� Develaptz�ent Distxict No. I, the Redevelapment Praject Area and Industrial Development Dzstriet Na 1 stated 'zn the Develapznent Progratn. 2. Purpsse of Dev��opmen�. Tt is hereby fount� anc� det��'mined that the am�ndment by s�pplernent set for�h i� the Develo�men� Program wili serve the pubiic �urpases set farth in the Pragram and �1ans and caz-ry out the abjectiv�s o£ Deveiopznez�t Distarict No. �, �he Redeve�opment Project Area and Industr2a� Developmeni District �Vo. 1 set forth in t�ie �'rograrn az�c� Plans. 3. Adoptinn of D�velo�m�� Pro�ram. �"he Development Prograrn set �'arth zn the �z�ogram ar�c� P�ans, having been dttly revieuled anc� considered, is ��r�by acic�pied and ap�roved. 4. Need for Tax Increment Financin�. T�e City �r�ds and determines thai tkere is a zzeed for the actzvities ofDeve�opnaent Distr�ct �io. 1, t�Ze Re�evelapznent Project Area and Indusl:rial Development Disirict No. 1 to be fnaneed irt part by tax i�crements from tl�e Ta�c Incre�nent D�strict. 2116002v3