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"Plan ') is necessary to assure the development and redevelopment of the Project Area and t NW Quad. .02. The Council hereby finds, determines and declares that the Plans conform eneral plan for the development and redevelopment of the City as a whole in that consistent with the City's comprehensive plan. .03. The Council hereby finds, determines and declares that the Plans afford m opportunity, consistent with the sound needs of the City as a whole, for the ment and redevelopment of the Project Area and the NW Quad by private ise, and it is contemplated that the development or redevelopment thereof will be out pursuant to development contracts with private developers. 2.04. The Council hereby finds, determines and declares that the approval and adopt n of the Plans is intended and, in the judgment of this Council, its effect will be to prom e the purposes and objectives specified in this Section 2 and othelWise promote certai public purposes and accomplish certain objectives as specified in the Plans. 2.05. The Council hereby finds, determines and declares that the City made the Indings stated in this Section 2 and has set forth the reasons and supporting facts h determination in the Plans and Exhibit A of this Resolution. Section 3. Specific Findings for the Modified District. 3.01. The Council hereby finds, determines and declares that the increased area of th Modified District qualifies as a "tax increment financing district" as defined in Minn ota Statutes, Section 469.174, Subdivision 9 and further qualifies as a type of "rede lopment district" as defined in Minnesota Statutes, Section 469.174, Subdivision 10. hese two qualifications are required by Minnesota Statutes, Section 469.175, Subd ision 4(d) which requires that any parcel(s) that are subsequently added to an existi redevelopment district must meet the criteria of Minnesota Statutes, Section 469.1 4, Subdivision 10 independently of the existing district. The Council hereby further finds, etermines and declares that the increased area to the Modified District meets the requi ments of Minnesota Statutes, Section 469.174, Subdivision 10. 3.02. The Council hereby finds, determines and declares that the proposed pment or redevelopment in the increased area of the Modified District, in the of the Council, would not occur solely through private investment within the ably foreseeable future and, therefore, the use of tax increment financing is d necessary. 3.03. The Council hereby finds, determines and declares that the increased mark value of the increased area of the Modified District that could reasonably be 3