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<br />II <br />I' <br />;1. <br />I <br /> <br />III <br />H <br /> <br />redevelopment, the City's tax base will increase 8.9 times, or approximately <br />$55.0 million, from $6.9 million to $62.0 million_ <br /> <br />6. Finding that the expenditure of tax increment serves a primarily <br />public purpose. <br /> <br />The expenditure of tax increment is not intended as a private benefit, and <br />any such benefit is incidental. The principal intent for the tax increment <br />expenditures includes the removal of impediments to the development <br />described in the Plans. These activities include the (i) elimination of blight <br />as described in paragraph 1 of this Exhibit and further described in the <br />Redevelopment Eligibility Assessment on file at the City; (ii) demolition and <br />removal of existing structures; Oii) removal of asbestos and other <br />environmental remediation; (iv) relocation of existing tenants; and (v) <br />replacement of substandard or insufficient infrastructure. Among the public <br />benefits are (i) the development of hundreds of housing units for the City; <br />(ii) the utilization of existing infrastructure including sanitary sewer, water, <br />and roads; (iii) the utilization of existing capital improvements including <br />schools, parks, the community center; and (iv) the approximate 9 times <br />increase in the City's tax base. <br /> <br />8 <br />