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<br />Councilmember Jeffrey introduced the following resolution and moved its adoption: <br /> <br />RESOLUTION #07-01-037 <br /> <br />RESOLUTION APPROVING THE MODIFICATION TO THE DEVELOPMENT <br />PROGRAM FOR DEVELOPMENT DISTRICT NO.1 AND ESTABLISHING TAX <br />INCREMENT FINANCING DISTRICT NO. 11 AND APPROVING THE TAX <br />INCREMENT FINANCING PLAN THEREFOR WITHIN DEVELOPMENT DISTRICT <br />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 Financing <br />District No. 11 therein and approve and accept the proposed Tax Increment Financing Plan <br />therefor under the provisions of Minnesota Statutes, Sections 469.174 to 469.1799 (the "Act"); <br />and <br />B. The City Council has investigated the facts and has caused to be prepared a <br />proposed 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 Tax Increment Financing District No. 11 (the "Tax Increment Financing Plan"); and <br />C. The City has performed all actions required by law to be performed prior to the <br />modification of Development District No. 1 and establishment of Tax Increment Financing <br />District No. 11 therein, and the adoption of a proposed Development Program, as amended, and <br />Tax Increment Financing Plan therefor, including, but not limited to, notification of Anoka <br />County and Independent School District No. 11 having taxing jurisdiction over the property to be <br />included in Tax Increment Financing District No. 11 and the holding of a public hearing upon <br />published and mailed notice as required by law; and <br /> <br />NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of <br />Ramsey as follows: <br /> <br />1. Modification Findings. The City finds, determines and declares that with respect <br />to the Modification: <br />(a) The City is not modifying the boundaries of Development District No. 1. <br />(b) The City is, however, modifying the Development Program to allow for <br />the increased costs associated with Tax Increment Financing District No. 11 as described in the <br />Modification. <br />2. Tax Increment Financing District No. 11. There is established in the City of <br />Ramsey within Development District No. 1 a Tax Increment Financing District, the initial <br />boundaries of which are fixed and determined as described in the Tax Increment Financing Plan. <br />3. Tax Increment Financing Plan. The Tax Increment Financing Plan is adopted as <br />the tax increment financing plan for Tax Increment Financing District No. 11, and the City <br />Council makes the following findings: <br />(a) Tax Increment Financing District No. 11 is a Tax Increment Financing <br />District as defined in Minnesota Statutes, Section 469.174, Subd. 11, the specific basis for such <br />determination being that the 151-unit elderly housing development project consisting of 103 <br />independent living units, 30 assisted living units and 18 memory care assisted living units will <br /> <br />Resolution #07-01-037 <br />Page 1 of3 <br />