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CITY OF ELK RIVER <br />COUNTY OF SHERBURNE <br />STATE OF MINNESOTA <br /> <br /> RESOLUTION NO. <br /> <br />RESOLUTION APPROVING DEVELOPMENT DISTRICT <br />AND! TAX INCREMENT FINANCING DISTRICT PLANS <br /> <br /> BE IT RESOLVED by the City Council (the "Council") of the <br />City of Elk RiVer, Minnesota (the "City"), as follows: <br /> <br />Section ii Recitals. <br /> <br /> 1.01. <br />Development Pr( <br />"Development DJ <br />and costs for t <br />District Tax I~ <br />District") and <br /> <br />It has been proposed that the City amend the <br /> ~gram for its Development District No. 1 (the <br /> .strict") toj reflect additional goals, activities <br /> ~hat project; establish within the Development <br /> Lcrement Financing District No. 21 (the "TIF <br /> adopt the related Tax Increment Financing Plan <br /> <br />therefor (coll~ctively, the "Plans"); all pursuant to and in <br />conformity with applicable law, including Minnesota Statutes, <br />Sections 469.1~4 through 469.134 and 469.174 through 469.179; all <br />as reflected in that certain document of the City entitled in <br />part "Modifications to the Development Program for Development <br />District No. 1~" dated August 21, 2000, and presented for the <br />Council's consideration. <br /> <br />1.02. Thc Council has investigated the facts relating to <br />the Plans. <br /> <br /> 1.03. The City has performed all actions required by law to <br />be performed prior to the adoption and approval of the Plans, <br />including but not limited to 30 days prior notification of the <br />County Auditor~and School District Clerk, a review of_an~ comment <br />on the Plans by the Elk River Planning Commission, and the <br />Council's holding of a public hearing thereon following notice <br />thereof published in the City's official newspaper at least 10 <br />but not more than 30 days prior to the public hearing. <br /> <br />1.04. Ceirtain written reports and other documentation <br />(collectively,! the "Reports") relating to the Plans, including <br />the tax increment application made and other information supplied <br />by or on behal!f of SoftPac and/or Opus Northwest, L.L.C. <br />(collectively, the "Company") and to the activities and project <br />contemplated Within the TIF District, and including the Plans <br />themselves, have heretofore been assembled or prepared by staff <br />or others and submitted to the Council and/or made a part of the <br />City files and proceedings on the Plans. The Reports include <br />data, information and/or substantiation constituting or relating <br /> <br />1198600.1 <br /> <br /> <br />