Laserfiche WebLink
<br />" <br /> <br />1.03. The City has performed all actions required by <br />law to "be performed prior to the amendment of the Modified <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. 10, the <br />establishment of Tax Increment Financing District No. 11 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 District No. 621, which <br />have taxing jurisdiction over the property to be included in <br />Tax Increment Financing District No. 11, a review by the <br />Ci ty 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. 11 and the holding of a public <br />hearing upon published and mailed notice as required by law. <br /> <br />Section 2. Findings for the Establishment of Tax Incre- <br />ment Financing District No. 11. <br /> <br />2.01. The Council hereby finds that due to unusual <br />terrain or soil deficiencies, substantial filling, grading <br />or other physical preparation is required within Tax Incre- <br />ment Financing District No. 11. Based on this finding, the <br />City Council has classified Tax Increment Financing District <br />No. 11 as a "redevelopment district" as defined by Minnesota <br />Statutes, Section 273.73, Subdivision 10(a)(3). <br /> <br />2.02. The Council further finds that the proposed de- <br />ve10pment, in the opinion of the Council, would not occur <br />solely through private investment within the reasonably <br />foreseeable future and, therefore, the use of tax increment <br />financing is deemed necessary; that the Tax Increment <br />Financing Plan conforms to the general plan for the develop- <br />ment or redevelopment of the City as a whole; and that the <br />Tax Increment Financing Plan will afford maximum opportunity <br />consistent with the sound needs of the City as a whole, for <br />the development of Tax Increment Financing District No. 11 <br />by private enterprise. <br /> <br />2.03. The Council further finds that the establishment <br />of Tax Increment Financing District No. 11 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 />- 2 - <br />