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<br />'. ' <br /> <br />Development Program relating to Development District No.1, <br />the amendment of Tax Increment Financing Plans for Tax <br />Increment Financing Districts No. 1 through No. ll, the <br />establishment of Tax Increment Financing District No. l2 and <br />the adoption of the proposed Tax Increment Financing Plan <br />relating thereto, including, but not limited to, notifica- <br />tion of Ramsey County and School Distr ict No. 621, which <br />have taxing jurisdiction over the property to be included in <br />Tax Increment Financing District No. 12, a review by the <br />City Planning Commission of the proposed amendment of the <br />Modified Development Program for Development District No. 1 <br />and the proposed Tax Increment Financing Plan for Tax Incre- <br />ment Financing District No. 12 and the holding of a public <br />hearing thereon following published notice as required by <br />law. <br /> <br />Section 2. Findings for the Establishment of Tax Incre- <br />ment Financing District No. 12. <br /> <br />2.01. The Council hereby finds that Tax Increment <br />Financing District No. 12 is a redevelopment district, as <br />defined in Minnesota Statutes, Section 273.73, Subdivision <br />10(a) (3) due to site preparation costs and conditions, as <br />represented to the City by the developer. <br /> <br />2.02. The Council further finds that the proposed de- <br />velopment would not occur solely through private investment <br />within the reasonably foreseeable future and, therefore, the <br />use of tax increment financing is deemed necessary; that the <br />Tax Increment Financing Plan conforms to the general plan <br />for the development or redevelopment of the City as a whole; <br />and that the Tax Increment Financing Plan will afford maxi- <br />mum opportunity consistent with the sound needs of the City <br />as a whole, for the development of Tax Increment Financing <br />District No. 12 by private enterprise. <br /> <br />2.03. The Council further finds that the establishment <br />of Tax Increment Financing District No. 12 and the approval <br />and adoption of the Tax Increment Financing Plan relating <br />thereto is intended and, in the judgment of this Council, <br />its effect will be, to promote the public purposes and <br />accomplish the objectives specified in the Tax Increment <br />Financing Plan. <br /> <br />Section 3. Findings for the Amendment of Tax Increment <br />Financing Plans for Tax Increment Financing Districts No. 1 <br />Through No. 11. <br /> <br />3.01. The Council further finds that the amendment of <br />the Tax Increment Financing Plans for Tax Increment Financ- <br />ing Districts No.' 1 through No. II is intended and, in the <br />judgment of this Council, its effect will be, to promote the <br /> <br />- 2 - <br />