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<br />Section II. <br /> <br />Tax Increment Financing District and Plan No. 16 <br /> <br />Section 2.1. Statement of Obiectives. The general <br />objectives which the City seeks to achieve through the <br />implementation of this Tax Increment District are set out in <br />Subsection 1.4 of the Development Plan. <br /> <br />Section 2.2. Development Program. The development <br />program which the City seeks to further through the <br />implementation of this Tax Increment District is the <br />Development Plan, as set out in Subsections 1.1 through 1.13 <br />of the Development Plan, as amended by Sections 1.2 and 1.3 <br />above. <br /> <br />Section 2.3. Parcels to be Included in Tax Increment <br />Financing District No. 16. This Tax Increment District shall <br />consist of the properties described in the attached Exhibit <br />II-A. A map showing the boundaries of this Tax Increment <br />District is attached to this Financing Plan as Exhibit II-B. <br /> <br />Section 2.4. Parcels in Acquisition. The City intends <br />to acquire parcels, or interest therein, within this Tax <br />Increment District or within the Development District at the <br />time or times as the City may determine to be necessary or <br />desirable to assist or implement development within the <br />Development District or the Tax Increment District. <br /> <br />Section 2.5. Development Activity Anticipated for <br />Development District No.1. The City anticipates that it <br />will enter into a suitable development agreements with Midwest <br />Bolt & Supply for the development in the Tax Increment <br />District of an approximately 10,000 to 12,000 square foot <br />facility which will be used in the distribution of industrial <br />fasteners and with Welsh Companies for the development within <br />the Tax Increment District of an approximately 26,000 square <br />foot office/showroom facility. The City anticipates that such <br />developments would be substantially completed by or about <br />January 1, 1990, and in consideration of the needed <br />development, the City also anticipates contributing not more <br />than approximately $600,000 to defray site and/or related <br />costs expected to be incurred in completing those and <br />additional developments. <br /> <br />Section 2.6. Estimated Public Improvement Costs. The <br />estimated public improvement costs and the amount of bonded <br /> <br />2-1 <br />