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CITY OF ORONO <br /> HENNEPIN COUNTY <br /> STATE OF MINNESOTA <br /> Council member Flint introduced th following resolution <br /> and moved its adoption: <br /> RESOLUTION NO. 4 6 5 8 <br /> RESOLUTION ADOPTING THE REDEVELOPMENT PLAN <br /> FOR HOUSING PROJECT AREA NO. 1, ESTABLISHING TAX <br /> INCREMENT FINANCING DISTRICT NO. 1-1 THEREIN, AND <br /> ADOPTING THE TAX INCREMENT FINANCING PLAN <br /> THEREFOR. <br /> BE IT RESOLVED by the City Council (the "Council") of the City of Orono, <br /> Minnesota(the "City"), as follows: <br /> Section 1. Recitals. <br /> 1.01. It has been proposed by the Orono Housing and Redevelopment <br /> Authority(the "HRA") and the City that the City adopt the Development Plan for <br /> Housing Project Area No. 1, establish Tax Increment Financing District No. 1-1 (the <br /> "District")therein and adopt the Tax Increment Financing Plan therefor (collectively, <br /> the "Plans"); all pursuant to and in conformity with applicable law, including <br /> Minnesota Statutes, 469.001 through 469.047 and 469.174 through 469.179, all <br /> inclusive, as amended, (the "Act") all as reflected in the Plans, and presented for the <br /> Council's consideration. <br /> 1.02. The City has investigated the facts relating to the Plans and has <br /> caused the Plans to be prepared. <br /> 1.03. The City has performed all actions required by law to be <br /> performed prior to the establishment of the District and the adoption and approval of <br /> the proposed Plans, including, but not limited to, notification of Hennepin County and <br /> Independent School District No. 278 having taxing jurisdiction over the property to be <br /> included in the District, and the holding of a public hearing upon published notice as <br /> required by law. <br /> 1.04. Other written reports and analysis (the "Supporting Data") <br /> relating to the Plans and to the activities contemplated therein have heretofore been <br /> prepared and submitted to the Council and/or made a part of the City files and <br /> proceedings on the Plans. The Supporting Data include data, information and/or <br /> substantiation constituting or relating to the bases for the other findings and <br /> determinations made in this resolution. The Council hereby confirms, ratifies and <br /> adopts the Supporting Data, which are hereby incorporated into and made as fully a <br /> part of this resolution to the same extent as if set forth in full herein. <br /> Section 2. Findings for the Adoption and Approval of the Plans. <br /> 2.01. The Council hereby finds that the Plans, are intended and, in the <br /> judgment of this Council, the effect of such actions will be, to provide an impetus for <br />