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. . . 12. That the Modification prepared by City staff and consultants adequately serves the goals and objectives of the TIF District No.3. 13. That the Modification 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. 3 and the Modification. 15. That the Sherburne County Board of Commissioners has presented its written comment on the Modification to the city. 16. That notice of a Public Hearing on the Modification has been published in the official newspaper of the City, as required by Minnesota Statutes ~ 469.175, subds. 3 and 4. 17. That a Public Hearing on the Modification was held before the City Council on November 30, 1987, and that an opportunity to be heard was granted at that time to all residents of the City and all other interested person. RESOLVED A. That the City Council of the City of Elk River hereby approves the Modification of the Tax Increment Financing Plan for Tax Increment Financing District No.3. B. That the City Council of the City of Elk River hereby determines to proceed with the additional Tax Increment Financing proposed in the Modification of the TIF Plan for Tax Increment Financing District No.3. 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 the Modification, including filing of the Modification and this Resolution with the Minnesota Commissioner of Energy, Planning and Development and the Sherburne County Auditor. 4 .