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underdeveloped and/or underutilized properties, blight and blighting conditions, will help finance critical <br />transportation improvements, and protect and enhance redevelopment of the TIF Districts, the <br />Development District and the Projects as described above. These public purposes and benefits exceed <br />any benefits expected to be received by private developers, because most of the new expenditures <br />described in the TIF Plan Modifications represent investment in public infrastructure, and any developers <br />receive direct assistance only in the amount needed to make the proposed development financially <br />feasible. <br />Section 4. Approval and Adoption of the TIF Plan Modifications <br />4.01. The TIF Plan Modifications are hereby approved, and shall be placed on file in the office <br />of the City Administrator. Approval of the TIF Plan Modifications does not constitute approval of any <br />project or a development agreement with any developer. <br />4.02. City staff is authorized to file the TIF Plan Modifications with the Commissioner of <br />Revenue, the Office of the State Auditor and the Anoka County Auditor. <br />4.03. City staff, the City's advisors and legal counsel are authorized and directed to proceed <br />with the implementation of the TIF Plan Modifications and for this purpose to negotiate, draft, prepare <br />and present to this Council for its consideration all further modifications, resolutions, documents and <br />contracts necessary for this purpose. <br />The motion for the adoption of the foregoing resolution was duly seconded by Council member <br />, and upon a vote being taken thereon, the following voted in favor thereof: <br />and the following voted against the same: <br />Dated: December 13, 2011 <br />Mayor <br />(Seal) <br />ATTEST: <br />City Administrator <br />