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• 1.17. The Council has investigated the facts with respect thereto and has determined that <br /> extending the expected durations of Tax Increment Financing Districts Nos. 1 - 10 and 12 — 15 <br /> does not constitute modifications to the tax increment financing plans as defined by Minnesota <br /> Statutes, Section 469.175, Subdivision 4. <br /> Section 2. Findings. <br /> 2.01. The Council hereby finds, determines and declares that extending the expected <br /> durations of Tax Increment Financing Districts Nos. 1 - 10 and 12 — 15 is necessary in order to <br /> assist with current and future expenses as provided for in the Program and which are necessary <br /> to assure the development and redevelopment of the Project Area. <br /> 2.02. The Council hereby finds, determines and declares that extending the expected <br /> durations of Tax Increment Financing Districts Nos. 1 - 10 and 12 — 15 is further necessary in <br /> order to insure the City's ability to service public debt issued and to be issued in order to achieve <br /> the goals and objectives of the Project Area. <br /> 2.03. The Council hereby finds, determines and declares that the additional increased <br /> expenses, outstanding debt service and potential debt service associated with the continued <br /> development and redevelopment of the Project Area, for which additional tax increment from Tax <br /> 10 Increment Financing Districts Nos. 1 - 10 and 12— 15 are necessary, conform to the general plan <br /> for the development and redevelopment of the City as a whole in that they are consistent with the <br /> City's comprehensive plan. <br /> Section 3. Approval. <br /> 3.01. The expected durations of Tax Increment Financing Districts Nos. 1 - 10 and 12 <br /> — 15 are hereby extended, and are now expected to be the duration dates listed below, and are <br /> hereby approved by the Council of the City. <br /> Tax Increment Financing District No. 1 December 31, 2008 <br /> Tax Increment Financing District No. 2 December 31, 2008 <br /> Tax Increment Financing District No. 3 December 31, 2008 <br /> Tax Increment Financing District No. 4 December 31, 2010 <br /> Tax Increment Financing District No. 5 December 31, 2011 <br /> Tax Increment Financing District No. 6 December 31, 2011 <br /> Tax Increment Financing District No. 7 December 31, 2013 <br /> Tax Increment Financing District No. 8 December 31, 2012 <br /> Tax Increment Financing District No. 9 December 31, 2012 <br /> Tax Increment Financing District No. 10 December 31, 2013 <br /> 4 <br />