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EXTRACT OF MINUTES OF A MEETING OF THE <br />CITY COUNCIL OF THE CITY <br />OF RAMSEY, MINNESOTA <br />HELD: December 14, 2010 <br />Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of <br />Ramsey, Anoka County, Minnesota, was duly called and held on the 14in day of December, 2010, at <br />7:00 p.m. <br />The following members of the Council were present: <br />Mayor Ramsey <br />Councilmember Dehen <br />Councilmember Elvig <br />Councilmember Jeffrey <br />Councilmember Look <br />Councilmember McGlone <br />Councilmember Wise <br />and the following were absent: <br />None <br />Councilmember Elvig introduced the following resolution and moved its adoption: <br />RESOLUTION #10 -12 -267 <br />RESOLUTION APPROVING THE MODIFICATION TO THE DEVELOPMENT <br />PROGRAM FOR DEVELOPMENT DISTRICT NO. 1 AND ESTABLISHING TAX <br />INCREMENT FINANCING (REDEVELOPMENT) DISTRICT NO. 14 AND APPROVING <br />THE TAX INCREMENT FINANCING PLAN THEREFORE WITHIN DEVELOPMENT <br />DISTRICT NO. 1 <br />WHEREAS: <br />A. It has been proposed that the City of Ramsey, Minnesota (the "City ") modify the <br />Development Program for Development District No. 1, and establish Tax Increment <br />Financing (Redevelopment) District No. 14 ( "TIF District No. 14 ") therein and approve and <br />accept the proposed Tax Increment Financing Plan therefore under the provisions of <br />Minnesota Statutes, Sections 469.174 to 469.1799 (the "Act "); and <br />B. The City Council has investigated the facts and has caused to be prepared a proposed <br />Modification to the Development Program for Development District No. 1 (the <br />"Development Program ") and has caused to be prepared a proposed tax increment financing <br />plan for TIF District No. 14 (the "Tax Increment Financing Plan ") and <br />Resolution #10 -12 -267 <br />Page 1 of 5 <br />