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Section 1. Recitals CITY OF RAMSEY ANOKA COUNTY STATE OF MINNESOTA Councilmember Wise introduced the following resolution and moved its adoption: RESOLUTION #11 -12 -244 RESOLUTION ADOPTING A MODIFICATION TO THE TAX INCREMENT FINANCING PLANS FOR TAX INCREMENT FINANCING DISTRICT NOS. 1 AND 2. NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: 1.01. The City Council of the City of Ramsey have heretofore established Development District No. 1 (the "Development District ") and adopted the Development Program therefore, and have also established within the Development District Tax Increment Financing District Nos. 1 and 2 (the "TIF Districts ") and approved tax increment financing plans ( "TIF Plans ") for the TIF Districts. It has been proposed that the City adopt a Modification to the Tax Increment Financing Plans (the "TIF Plan Modifications ") for the TIF Districts, all pursuant to and in conformity with applicable law, including Minnesota Statutes, Sections 469.124 to 469.134 and Sections 469.174 to 469.1799, all inclusive, as amended, (the "Act ") all as reflected in the TIF Plan Modifications, and presented for the Council's consideration. 1.02. The City has investigated the facts relating to the TIF Plan Modifications and has caused the TIF Plan Modifications to be prepared. 1.03. The City have performed all actions required by law to be performed prior to the adoption and approval of the proposed TIF Plan Modifications, including, but not limited to, notification of Anoka County, Independent School District No. 11, having taxing jurisdiction over the property included in the TIF Districts, a review of and written comment on the TIF Plan Modifications by the City Planning Commission on December 1, 2011, and the holding of a public hearing upon published notice as required by law. 1.04. The City is not modifying the boundaries of the Development District or the TIF Districts. Section 2. Findings for the TIF Plan Modifications 2.01 The Council hereby reaffirms the original findings for the TIF Districts, namely that when the TIF Districts were established, the TIF Disstricts were established as redevelopment districts. In addition, the City makes the following findings: 2.02 (i) The proposed redevelopment described in the TIF Plan Modifications would not reasonably be expected to occur solely through private investment within the reasonably foreseeable future. The major purpose of the TIF Plan Modification is to authorize additional expenditures to allow for the acquisition of right -of -way easements and construction of a rail stop along the North Star Rail Corridor and allow for Resolution #11 -12 -244 Page 1 of 3