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Res 2004-107 Approving Modification to TIF PlanEXTRACT OF MINUTES OF A MEETING OF THE CITY COUNCIL OF THE CITY OF MENDOTA HEIGHTS, MINNESOTA HELD: December 21, 2004 Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of Mendota Heights, Dakota County, Minnesota, was duly held on the 21 st day of December 2004, at 7:30 P.M. The following members were present: Mayor Huber, Councilmembers Vitelli, Schneeman and Duggan and the following were absent: Councilmember Krebsbach MemberVitelli introduced the following resolution and moved its adoption: RESOLUTION NO. 04-107 RESOLUTION APPROVING A MODIFICATION TO THE TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 1 WHEREAS: A. On April 1, 1981, the City Council of the City of Mendota Heights adopted a Tax Increment Financing Plan (the "Tax Increment Financing Plan") for Tax Increment Financing District No. I (the "Tax Increment District"); and B. The Tax Increment Financing Plan was heretofore amended by Modification No. I and Modification No. 2 adopted on April 16, 1986 and May 6, 1997; C. In order to clarify certain provisions of the Tax Increment Plan, including but not limited to, clarifications as to the duration of the Tax Increment District, the amounts of the budgeted revenues and expenditures, and bonded indebtedness, there has been prepared a modification to the Tax Increment Plan, a copy of which is attached to this resolution as Exhibit A (the "Modification"); and D. The City has performed all actions required by law to be performed prior to the approval of the Modification of the Tax Increment Financing Plan, including, but not limited to, notification of Dakota County and Independent School District Number 197, which have taxing jurisdiction over the property included in Tax Increment Financing District No. 1, and the holding of a public hearing upon published notice as required by law. NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Mendota Heights as follows: 1719206vl 1. The City Council ratifies and confirms the findings made in the resolution adopted by the City Council on April 1, 1981, in connection with the establishment of Tax Increment Financing District No. 1. 2. The adoption of the Modification is necessary and desirable to further the public purpose of the Tax Increment Financing Plan, which public purpose is to encourage development and redevelopment and prevent the emergence of blighted lands. 3. The Modification is hereby approved and the staff of the City is hereby directed to file the Modification with the Commissioner of Revenue. The motion for the adoption of the foregoing resolution was duly seconded by member Schneeman and upon vote being taken thereon, the following voted in favor thereof. Huber, Vitelli, Schneeman and Duggan and the following voted against the same: None. Whereupon said resolution was declared duly passed and adopted. Adopted by the City Council of the City of Mendota Heights this 21't day of December, 2004. CITY COUNCIL ATTEST: By g1 K/athleen M. Swanson 1719206vl 2 er, ayor ,I , I STATE OF MINNESOTA DAKOTA COUNTY CITY OF MENDOTA HEIGHTS I, the undersigned, being the duly qualified and acting Clerk of the City of Mendota Heights, Minnesota, DO HEREBY CERTIFY that I have compared the attached and foregoing extract of minutes with the original thereof on file in my office, and that the same is a full, true and complete transcript of the minutes of a meeting of the City Council of said City, duly called and held on the date therein indicated, insofar as such minutes relate to the adoption of a Modification to the Tax Increment Financing Plan for Tax Increment Financing District No. 1. WITNESS my hand of said City this -6 day of avt� '200d.' 4�11 ell- CleK 1719206v 1 3