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<br />EXTRACT OF MINUTES OF MEETING <br />OF THE CITY COUNCIL OF THE <br />CITY OF RAMSEY, MINNESOTA <br />HELD: October 13, 2015 <br />Pursuant to due call and notice thereof, a meeting of the City Council of the City of <br />Ramsey, Anoka County, Minnesota, was duly called and held at the City Hall in said City on <br />Tuesday, the 13th day of October, 2015, at 7:00 o'clock p.m. <br />The following members were present: <br /> <br /> Mayor Strommen <br /> Councilmember LeTourneau <br /> Councilmember Williams <br /> Councilmember Johns <br /> Councilmember Kuzma <br /> Councilmember Riley <br /> Councilmember Shryock <br /> <br />and the following were absent: <br /> <br /> None <br /> <br />Councilmember LeTourneau introduced the following resolution and moved its adoption: <br />Resolution #15-10-261 <br />AUTHORIZING EXECUTION OF A TAX INCREMENT FINANCING AGREEMENT <br /> <br /> <br />A.WHEREAS, ParkView East, LLC (the "Developer") has requested the City of <br />Ramsey, Minnesota (the "City") to assist with the financing of certain costs incurred in <br />connection with the construction of an approximately 121 units of market rate rental housing in <br />the City by the Developer (the "Project"). <br /> <br />B.WHEREAS, the Developer and the City have determined to enter into a Tax <br />Increment Financing (TIF) Agreement providing for the City's tax increment financing assistance <br />for the Project (the "Tax Increment Financing Agreement"). <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of <br />Ramsey, Minnesota, as follows: <br /> <br />1.The City Council hereby approves the Tax Increment Financing Agreement in <br />substantially the form submitted, and the Mayor and City Administrator are hereby authorized <br />and directed to execute the Tax Increment Financing Agreement on behalf of the City. <br /> <br />7279109v1 <br /> <br /> <br />