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<br />~ <br /> <br />Private investment will not finance these development activities because of prohibitive <br />costs. It is necessary to finance these development activities through the use of tax <br />increment financing so that other development by private enterprise will occur within the <br />Municipal Development District No.1. <br /> <br />(c) <br /> <br />The Tax Increment Financing Plans for Tax Increment Financing District Nos. 1, 2 and 4 <br />conform to the general plan for development or redevelopment of the City of Ramsey as <br />a whole. <br /> <br />The reasons supporting this finding are: <br /> <br />(i) Tax Increment Financing District Nos. 1,2 and 4 are properly zoned; and <br /> <br />(ii) The tax increment financing plans will generally compliment and serve to <br />implement policies adopted in the City's comprehensive plan. <br /> <br />(d) The Tax Increment Financing Plans will afford maximum opportunity, consistent with <br />the sound needs of the City of Ramsey as a whole, for the development or redevelopment <br />of Municipal Development District No.1 by private enterprise. <br /> <br />The reasons supporting this finding are that: <br /> <br />The development activities are necessary so that development and redevelopment by <br />private enterprise can occur within Municipal Development District No.1. <br /> <br />5. Public Purpose. The Modifications to the Tax Increment Financing Plans for Tax Increment <br />Financing District Nos. 1,2 and 4 conform in all respects to the requirements of the Act and will <br />help fulfill a need to develop an area of the City which is already built up to provide employment <br />activities and improve the tax base and to improve the general economy of the State and thereby <br />serves as a public purpose. <br /> <br />6. Filing. The City Administrator is further authorized and directed to file a copy of the <br />Modifications to the Tax Increment Financing Plans for Tax Increment Financing District Nos. <br />1, 2 and 4 with the Commissioner of Revenue. <br /> <br />The motion for the adoption of the foregoing resolution was duly seconded by Councilmember <br />and upon vote being taken thereon, the following voted in favor thereof: <br /> <br />And the following voted against the same: <br /> <br />And the following abstained: <br />