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Project Area and to approve and adopt the proposed Tax Increment Financing ubdistrict Plan") relating thereto, pursuant to and in accordance with Minnesota , Sections 469.174 to 469.1799, inclusive, as amended and supplemented from time. .05. The Special Law was adopted by the Legislature and approved by Ramsey to assist the City in redeveloping the area bounded on the north by the south ry line of Tax Increment District NO.8 extended to Long Lake Regional Park, on t by 1-35W, on the south by 1-694, and on the west by Long Lake Regional Park ("NW uad"). The original portion of the Modified District, as approved on December 14, 2004, i situated in the approximate southern one-half of the NW Quad lying west of Old High Y 8; the increased geographic area, as proposed for approval on December 13, 2005, i situated in the approximate northern one-half of the NW Quad lying west of Old High Y 8. The proposed Subdistrict is situated in the approximate upper two-thirds of the dified District and encompasses seven of the sixteen parcels comprising the Modifi d District. .06. The Council has caused to be prepared and has investigated the facts with thereto: (1) a modified Program for the Project Area reflecting increased project nd increased bonded indebtedness within the NW Quad and the Project Area, (2) d Existing Plans for the Existing Districts reflecting increased project costs and ed bonded indebtedness within the NW Quad and the Project Area; (3) a Restated r the Modified District reflecting increased project costs and increased bonded indeb dness within the Modified District, the NW Quad and the Project Area and further reflec i g increased geographic area within the Modified District; and, (4) a Subdistrict Plan r the Subdistrict, defining more precisely the properties to be included, the public costs be incurred and other matters relating thereto. 1.07. The Council has performed all actions required by law to be performed prior pproval and adoption of the modified Program, the modified Existing Plans, the d Plan and the Subdistrict Plan. 1.08 The Council hereby determines that it is necessary and in the best interests ity at this time to approve and adopt all modifications to the Program, the Existing Plans nd the Restated Plan, to create the Subdistrict, and to approve and adopt the Subd trict Plan relating thereto. Section 2. General Findings. 2.01. The Council hereby finds, determines and declares that the assistance to be p vided through the adoption and implementation of the modified Program, the modi d Existing Plans, the Restated Plan and the Subdistrict Plan (collectively the 2