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05-110
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05-110
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12/29/2005 1:23:27 AM
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12/22/2005 9:34:16 AM
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<br />I <br />I <br />I' <br />, I <br /> <br /> <br />II seven parcels are included in the Subdistrict and are designated as a <br />hazar us substance site, pursuant to Minnesota Statutes, Section 469.175, Subdivision <br />7. <br /> <br />inding that the Subdistrict is not larger than, and the period of time during <br />x increments are elected to be received is not longer than, that which is <br />ary, in the opinion of the Council, to provide for the additional costs due to <br />ignated hazardous substance site. <br /> <br />he Council has determined that the parcels located within the Subdistrict require <br />reme i tion and removal actions in order for the redevelopment of the Modified District to <br />proce as proposed. The Council has also determined that the duration of the <br />Subdi rict will extend only as long as is required to finance the remediation, removal and <br />relate activities. <br /> <br />5. inding that the expenditure of tax increment serves a primarily public <br />purp <br /> <br /> <br />he expenditure of tax increment is not intended as a private benefit, and any such <br />is incidental. The principal intent for the tax increment expenditures includes the <br />I and remediation actions needed, and associated costs, for the parcels included <br />ubdistrict. See also Exhibit 8, Item 4. <br /> <br />12 <br /> <br />III <br />
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