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..... .-,. ,." ,,'.- ._~~-'. . ~ ,....I.....~. ~.....'-' t.1.l .. '" adoption of the Development plan and Financing Plan relating thereto, including consultations with Ramsey County and the School District having taxing jurisdiction over the property proposed to be included in the Tax Increment Districts, a review of the proposed Development District and Tax Incre- ment Districts and the Development Plan and Financing Plans by the City Planning Department and the holding of a public hearing tipon published and mailed notice as required by law. 1.04. The Council hereby determines that it is neces- sary and in the best interests of the City at this time to establish the Development Distr ict and the Tax Increment Districts and to adopt and approve the Development Plan and the Financing Plans relating thereto. Section 2. District Findings and Establishment of Development 2.01. The Council hereby finds, determines and declares that the Development Distr iet consti tutes a "development district" as defined in Minnesota Statutes, Section 472A.02, subdivision 11, and further constitutes a "project," as de- fined in Minnesota Statutes, Section 273.73, Subdivision 8. 2.02. The Council further finds, determines and de- clares that the establishment of the Development Distr ict and the financing of the Development Plan by the City pur- suant to the Financing Plans is intended and, in the judg- ment of this Council, its effect will be, to promote the public purposes and accomplish the objectives specified in the Development Plan, Minnesota Statutes, Section 472A.Ol, and Minnesota Statutes, Sections 273.71 to 273.78, inclu- sive, as amended. 2.03.... ,under; "and pur sUilut,tQ,Mi nneso ta S tat ute s , . C~ i'ipt e r 472A, as amended, and Minnesota Statutes, Sections27'j(',;~,71"",~'dh\ 273.78, inclusive, as amended, Development District No.1 is hereby established in and for the Ci ty. The property in- cluded in the Development Distr ict shall be the property described in the Development Plan for the Development Dis- trict approved in Section 4 hereof. Section 3. Districts. Findings and Establishment of Tax Increment 3.01. The Council hereby finds, determines and declares that each of the Tax Increment Dis):.ricts constitutes a "tax increment financing district", as d~fined in Minnesota Stat- utes, Section 273.73, Subdivision 9, and further constitutes an "redevelopment district", as defined in Minnesota Statutes, Section 273.73, Subdivision 10. - 2_.-