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98-046
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98-046
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7/15/2005 10:17:14 AM
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7/14/2005 11:06:27 AM
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<br />",,-'- <br /> <br />" . <br /> <br />Area and a Proposed TIP Plan for the Proposed TIP District, defining more precisely the properties <br />to be included, the public costs to be incurred and other matters relating thereto. <br /> <br />1.05. The Council has performed all actions required by law to be performed prior to the <br />approval and adoption of the modifications to the Program and Existing TIP Plans and the <br />approval and adoption of the proposed TIP Plan. <br /> <br />1.06. The Council hereby determines that it is necessary and in the best interests of the City <br />at this time to approve and adopt the modifications to the Program and Existing TIP Plans, to <br />create the Proposed TIP District and to approve and adopt the Proposed TIF Plan relating thereto. <br /> <br />Section 2. Findings. <br /> <br />2.01. The Council hereby finds, determines and declares that the assistance to be provided <br />through the adoption and implementation of the modified Program, modified Existing TIF Plans <br />and Proposed TIF Plan (collectively the "Plans") are necessary to assure the development and <br />redevelopment of the Project Area. <br /> <br />2.02. The Council hereby finds, determines and declares that the Plans conform to the <br />general plan for the development and redevelopment of the City as a whole in that they are <br />consistent with the City's comprehensive plan. <br /> <br />2.03. The Council hereby finds, determines and declares that the Plans afford maximum <br />opportunity consistent with the sound needs of the City as a whole for the development and <br />redevelopment of the Project Area by private enterprise, and it is contemplated that the <br />development and redevelopment thereof will be carried out pursuant to redevelopment contracts <br />with private developers. <br /> <br />2.04. The Council hereby finds, determines and declares that the modification, approval <br />and adoption of the Plans is intended and, in the judgement of this Council, its effect will be to <br />promote the purposes and objectives specified in this Section 2 and otherwise promote certain <br />public purposes and accomplish certain objectives as specified in the Plans. <br /> <br />2.05. The Council hereby finds, determines and declares that the Proposed TIF District <br />constitutes a "tax increment financing distrid' as defined in Minnesota Statutes, Section 469.174, <br />Subdivision 9, and further constitutes a type of "redevelopment district" as defined in Minnesota <br />Statutes, Section 469.174, Subdivision 10. <br /> <br />2.06. The Council hereby fmds, determines and declares that the proposed redevelopment <br />in the Proposed TIP District, in the opinion of the Council, would not occur solely through private <br />investment within the reasonably foreseeable future and, therefore, the use of tax increment <br />financing is deemed necessary. <br /> <br />2 <br />
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