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. . . . . 13. That the TIF Plan has been transmitted by the City to the Sherburne County Board of Commissioners and to the School Board for Independent School District No. 728. 14. That the City has met with the Sherburne County Board of Commissioners and the School Board and has presented to the County Board and the School Board the City's estimate of the fiscal and economic implications of Tax Increment Financing District No. 1. 15. That the Sherburne County Board of Commissioners has presented its written comment on the TIF Plan for TIF District No. 1 to the City. 16. That notice of a Public Hearing on the TIF Plan and on establishment of TIF District No. 1 has been published in the official newspaper of the City, as required by Minnesota Statutes ~ 273.74, Subd. 3. 17. That a Public Hearing on the TIF Plan and on establishment of the TIF District was held before the City Council on April 1, 1985 and that an opportunity to be heard was granted at that time to all residents of the City and all other interested persons. RESOLVED: A. That the City Council of the City of Elk River hereby approves the Tax Increment Financing Plan for Tax Increment Financing District No. 1. B. That the City Council of the City of Elk River hereby determines to proceed with Tax Increment Financing and establishes that area of the City designated in the TIF Plan for Tax Increment Financing District No. 1 as Tax Increment Financing District No. 1. C. That the City Council of the City of Elk River hereby directs its staff and consultants to proceed to take those steps necessary to implement Tax Increment Financing District No.1, including filing of the Tax Increment Financing Plan and this Resolution with the Minnesota Commissioner of Energy, Planning and Development and the Sherburne County Auditor, and requesting the Sherburne County Auditor to certify the original assessed value of the property within Tax Increment Financing District No.1. 4.