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The HRA negotiates with the redeveloper and prepares a Term Sheet and <br />Redevelopment Contract if this is applicable. <br /> The City adopts a resolution calling for a public hearing. <br /> The City provides notice to the affected county commissioner for review <br />and comment not less than 30 days prior to publication of Notice of Public <br />Hearing. <br /> The City provides notice to the appropriate county board and school board <br />for review and comment not less than 30 days prior to public hearing. <br /> The Planning Commission reviews and comments on the geographic area <br />proposed for the Redevelopment Project No. 1. <br /> The City provides for a notice of public hearing to be published not less <br />than 10 days nor more than 30 days prior to public hearing. <br /> The HRA adopts a resolution approving Redevelopment Project No. 1, the <br />Redevelopment Plan, the TIF District and the TIF Plan, and if applicable, <br />adopts a second resolution authorizing the execution of a Contract for <br />Private Redevelopment. <br /> The City holds a public hearing and adopts a resolution approving <br />Redevelopment Project No. 1, the Redevelopment Plan, the TIF District <br />and the TIF Plan. <br /> The City certifies the TIF District with the county and files a copy with the <br />state. <br />The process, from the time the City calls for a public hearing until it holds the public <br />hearing, requires approximately 60 days. After the public hearing, the HRA has an <br />established Project Area and TIF District and may proceed with its proposed <br />redevelopment project. <br />Because final approval of any HRA tax increment district lies with the City, all <br />prospective districts must conform to the City’s Tax Increment Policy which was adopted <br />in September, 1996 and amended and restated in February, 1997. Although this Policy <br />is consistent with Minnesota Statutes in terms of its general policy statement, public <br />purpose statement, use of tax increment, and creation of tax increment funds and <br />policies, it limits the maximum term for the collection and use of tax increment to 12 <br />years for redevelopment and blighted areas. In contrast, Minnesota Statutes, section <br />469.176, subdivision 1b(4) limits the duration of redevelopment districts to 25 years from <br /> Page 3 <br /> <br />