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2. The HRA further finds that the Modification and Plan will afford maximum opportunity, <br /> consistent with the sound needs for the City as a whole, for the development or redevelopment <br /> of the Project Area by private enterprise in that the intent is to provide only that public <br /> assistance necessary to make the private developments financially feasible. <br /> 3. The boundaries of the Project Area are not being expanded. <br /> 4. The reasons and facts supporting the findings in this resolution are described in the Modification <br /> and Plan. <br /> 5. The HRA elects to calculate fiscal disparities for the District in accordance with Minnesota <br /> Statutes, Section 469.177, Subd. 3, clause b, which means the fiscal disparities contribution <br /> would be taken from inside the District. <br /> 6. Conditioned upon the approval thereof by the City Council following its public hearing thereon, <br /> the Modification and Plan, as presented to the HRA on this date, are hereby approved, <br /> established and adopted and shall be placed on file in the office of the Executive Director of the <br /> HRA. <br /> 7. Upon approval of the Modification and Plan by the City Council, the staff, the HRA's advisors <br /> and legal counsel are authorized and directed to proceed with the implementation of the <br /> Modification and Plan and for this purpose to negotiate, draft, prepare and present to this Board <br /> for its consideration all further plans, resolutions, documents and contracts necessary for this <br /> purpose. Approval of the Modification and Plan does not constitute approval of any project or a <br /> Development Agreement with any developer. <br /> • 8. Upon approval of the Modification and Plan by the City Council, the Executive Director of the <br /> HRA is authorized and directed to forward a copy of the Modification and Plan to the Minnesota <br /> Department of Revenue and the Office of the State Auditor pursuant to Minnesota Statutes <br /> 469.175, Subd. 4a. <br /> 9. The Executive Director of the HRA is authorized and directed to forward a copy of the <br /> Modification and Plan to the Hennepin County Auditor and request th t the Auditor certify the <br /> original tax capacity of the District as described in the Plans, all in ac rdance with Minnesota <br /> Statutes 469.177. <br /> Approved by the Board on February 18, 2014. <br /> -hair <br /> ATTEST: <br /> Secretary <br /> • <br />