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r <br /> 4, '-.. .� . � . <br /> �;�F�^ �.. . . <br /> I CITY OF ORONO <br /> • HENNEPIN COUNTY <br /> STATE OF N�NNESOTA <br /> Council member F�int introduced the following resolution <br /> and moved its adoption: � <br /> i RESOLUTION NO. 4 S e5 � <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. I . Recitals. � <br /> � <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")thereiri 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 andlor 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. Findin�:s for the Ado�tion and Ap�roval 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 /> f <br />