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CITY OF ELK RIVER PLANNING COMMISSION <br />RESOLUTION NO. <br />RESOLUTION OF THE PLANNING COMMISSION <br />CONCERNING DEVELOPMENT DISTRICT NO. 1 AND A PROPOSED TAX INCREMENT <br />FINANCING DISTRICT OF THE CITY OF ELK RIVER <br />WHEREAS, the proposal by the City of Elk River, Minnesota to amend the Development <br />Program for Development District No. 1 (the "Program ") to reflect increased public development <br />and redevelopment costs and activities, establish Tax Increment Financing (Redevelopment) <br />District No. 24 (Beaudry Redevelopment Project), and adopt the Tax Increment Financing Plan <br />relating thereto (the "TIF Plan" and, together with the Program, the "Plans "), all pursuant to and <br />in conformity with applicable law, including Minnesota Statutes, 469.124 to 469.133 and <br />Sections 469.174 to 469.1794, as amended, has been submitted to the City of Elk River Planning <br />Commission (the "Commission "); and <br />WHEREAS, the Commission has reviewed the Plans to determine the consistency of the <br />Plans with the comprehensive plan for the City of Elk River: <br />NOW THEREFORE, BE IT RESOLVED AND DETERMINED by the City of Elk River <br />Planning Commission that the Plans are consistent with the comprehensive plan for the City of <br />Elk River and conform to general plans for development or redevelopment of the City as a <br />whole. <br />Adopted June 27, 2017 <br />Chair <br />501899v1 JSB EL185 -52 <br />