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1. Notwithstanding the fact that the Purchase Agreement did not recite the full fair <br /> market value purchase price for the Development Property and the City's intention to pay, <br /> through tax increments generated by TIF District 1-13, the portion of the fair market value <br /> purchase price in excess of the amount paid or to be paid by the Developer, the City Council <br /> hereby recognizes that Tax Increment Financing District No. 1-13 is obligated to reimburse the <br /> City's Business Park Fund in an amount equal to $63,400 for a portion of the purchase price of <br /> the Development Property. <br /> The motion for adoption of the foregoing resolution was duly seconded by member <br /> Oraskovich and, after full discussion thereof, and upon a vote being taken thereof, the following <br /> voted in favor thereof: Mayor Malecha, Council Members Nagel, Ryan, Sjoblad, and Oraskovich <br /> and the following voted against same: None <br /> Adopted this 18th day of December, 2007. 9 <br /> " . )0,;_ _- . <br /> Mayor <br /> Attest. l,L X.4 ' 1., , <br /> City Clerk <br /> 2118717v1 2 <br />