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EXHIBIT A TO RESOLUTION NO. 99-0')6 The reasons and facts supporting the findings for the Proposed TIP Plan for the Proposed TIP District pursuant to Minnesota Statutes, Section 469.175, Subdivision 3, are as follows: 1. Finding that the Proposed TIF Disrrict is a "redevelopment district" as defined m Minnesota Statutes. The Proposed TIP District consists of yacant railroad property, and as such qualifies 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 withi=l the reasonably foreseeable future and, therefore, the use of tax increment financing is deemed rie~essary. City staff has reviewed the redevelopm-em: costs including acquisition, demolition, relocation and site preparation and the available meThods of fmancing this project, and has determined that without tax increment assistance, the re:ie\"elopment would not be economically feasible to construct and fmance, and therefore would ::lot proceed without City intervention. In addition, City staff has detennined that the incre2.SeC. market value realized from a project receiving no tax increment assistance would be considerably less than the increased market value (less the present value of tax increment receipts) ~OIIl a project utilizing tax increment assistance. (see attached Schedule 1). 3. Finding that the Proposed TIP PIa comonns to the general plan for the development or redevelopment of the municipality as a "..-hole. The City Council has reviewed the Pro~c.;.-n for the Project Area and has determined that it confonns to the City's Comprehensive Plan. 4. Finding that the Proposed TIP Plac"1 v,ill afford maximum opportunity, consistent v..ith the sound needs of the City as a whole Ior me development or redevelopment of the Project Area by private enterprise. Development within the Proposed TIT Disrrict includes the construction of approximately 49,600 square feet of multi-purpose ITIa:mfacturingloffice/warehouse facilities in 2000. Because of the unusual shape of the p2:"ce~ located within the Proposed TIP District, these parcels can only be developed in conn;x::ion with other properties within the Project Area which the City has previously purchased. G,\WPDATA\N\NEw BRI~1TON\29\TIF\COUNCIL RESOL~~:~.=~~ 5