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EXHIBIT A TO RESOLUTION NO. 03-081 The reasons and facts supporting the findings for the TIF Plan for the TIF District pursuant to Minnesota Statutes, Section 469.175, Subdivision 3, are as follows: 1. Finding that the proposed TIF District is a "redevelopment district" as defined in Minnesota Statutes. The non-continuous TIF District consists of two areas to be redeveloped. The Brighton Village Shopping Center site consists of a single parcel and contains a blighted and obsolete building and the Beisswenger site consists of four parcels also containing blighted buildings. All buildings have been determined to be structurally substandard and require demolition and clearance thereby qualifying the parcels as a redevelopment district under Minnesota Statutes, Section 469.174, Subdivision 10. 2. Finding that the proposed development, in the opinion of the Council, would not occur solely through private investment within the reasonably foreseeable future and, therefore, the use of tax increment financing is deemed necessary. City staff has reviewed the redevelopment costs including acquisition, demolition, relocation and site preparation and the available methods of financing each project, and has determined that without tax increment assistance, neither redevelopment project would not be economically feasible to construct and finance, and therefore would not proceed without City intervention. In addition, City staff has determined that the increased market values realized from both projects receiving no tax increment assistance would be considerably less than the increased market value (less the present value of tax increment receipts) from projects utilizing tax increment assistance. (See attached Schedule 1). 3. Finding that the TIF Plan conforms to the general plan for the development or redevelopment of the municipality as a whole. The City Council has reviewed the Program for the Project Area and has determined that it conforms to the City's Comprehensive Plan. 4. Finding that the TIF Plan will afford maximum opportunity, consistent with the sound needs of the City as a whole for the development or redevelopment of the Project Area by private enterprise. The Brighton Village Shopping Center component of the redevelopment area includes demolition of the existing shopping center and construction of an 12,518 square foot drug store, two retail buildings totaling 28,750 square feet, a 28,000 square foot medical office building, a 3,000 square foot restaurant, and internal driveways, parking lots, ponds and 5