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Counc.i].me,M~,~' (]ox introduced the following resolution and moved <br />fo]: its <br /> <br />RESOLUTION #87-134 <br /> <br />RESOLUTIO~ ADOPTING A MODIFIED DEVELOPMENT PROGRAM FOR <br />DEVELOPMENT D~[STRICT NO. 1 AND A MODIFIED TAX INCREMENT FINANCING <br />PLAN FO~' r~?AX )~i!~CRE24ENT FINANCING DISTRICT NO. 1 <br /> <br /> i~7~; ~.~ RESOLVED by the City Council (the Council) of the <br />City of [{a~a:~ey:: Minnesota (the City) as follows: <br /> <br />Recitals. <br /> <br /> .l,0J It has been proposed that the City adopt a <br />modified l)~vctopment Program for Development District No. 1 and a <br />modified Ta~ i~ncrement Financing Plan for Tax Increment Financing <br />Di~trit ~: ?~o~ 1 therein~ all pursuant to and in accordance with <br />Minnesot~J. :;t'~¥_t:es, Chapter 472A, as amended, and Minnesota Statutes <br />Section~ 2.'/3 .,'/ i. to 273.78, inclusive, as amended. <br /> <br /> .i,+07 The Council has investigated the facts and has <br />cansed i:(, b~_~ prepared a modified Development Program for <br />Develop.,r~:t l)~_st~'ict No. 1 and a modified Tax Increment Financing <br />Plan for Ta>< ~ncrement Financing District No. 1 describing the <br />acts to 1~:~ i-aken to assist development within Development <br />D~;stri,~'* ?:~ 1 and Tax Increment Financing District No. 1 . <br /> <br /> ii~0:~ The. City has performed all actions required by <br />].aw to i~: i.;c-c',!ormed prior to the modification of the Program for <br />DeveJopmr~: Distric~ No. 1 and the Plan for Tax Increment <br />FinancJ.~L ~J(st:rict No. 1 including, but not limited to, <br />notJ. ficai:i~ of Anoka County and Independent School Distric No. <br />1] ; a ~'~:,~';.c~,..~ of the Program and Plan by the City Planning <br />Comm.i.s~Jr~_; and holding a public hearing regarding the Program <br />and the Pii.~? t~or,, such notice as is required by law. <br /> <br /> i~i)z~ The modified Development Program and Tax <br />Incremr,~t ir~ancing Plan are contained in a document entitled <br />"Develo'i~,~t~i: Program, Development District No . 1 and Tax <br />In. creme~t ?jr..~rtc~ng Plan~ Tax Increment Financing District No. 1, <br />City el ~,~,~y, Minnesota", dated June 9, 1987, and on file in <br />the office! ~f !he City AdmJn. istrator. <br /> <br /> ??~.!..?. ~., __Fi~_dj__n_g._s Related to the Modification of the <br />Prog_r3~m- f<,/, D~'~.~'~_lppment District No. 1. <br /> <br /> 2,1)it Thr~. Coum. cil hereby finds that the modification of <br />the Prog~r~ [or Development District No. 1 is intended, and in <br />the judgm~,',~' of the Council, its effect will be to provide an <br />impetu,~i Ir~: ::ommercial and industrial development in the City~ <br /> <br />Resolution #87-134 <br /> <br />Page 1 of 3 <br /> <br /> <br />