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through private investment within the reasonably foreseeable future and <br />therefore the use of tax increment is deemed necessary. <br />The reasons supporting this finding are that: <br />Private investment will not finance these development activities because of <br />prohibitive costs. It is necessary to finance these development activities through <br />the use of tax increment financing so that other development by private <br />enterprise will occur within the Municipal Development District No. 1. <br />(c) The Tax Increment Financing Plans for Tax Increment Financing District Nos. <br />I, 2 and 4 conform to the general plan for development or redevelopment of the <br />City of Ramsey as a whole. <br />The reasons supporting this finding are: <br />(i) Tax Increment Financing District Nos. 1, 2 and 4 are properly zoned; and <br />(ii) The tax increment financing plans will generally compliment and serve <br />to implement policies adopted in the City's comprehensive plan. <br />(d) The Tax Increment Financing Plans will afford maximum opportunity, <br />consistent with the sound needs of the City of Ramsey as a whole; for the <br />development or redevelopment of Municipal Development District No. 1 by <br />private enterprise. <br />The reasons supporting this finding are that: <br />The development activities are necessary so that development and <br />redevelopment by private enterprise can occur within Municipal Development District <br />No. 1. <br />5. Public Purpose. The Modifications to the Tax Increment Financing Plans for Tax <br />Increment Financing District Nos. 1, 2 and 4 conform in all respects to the requirements <br />of the Act and will help fulfill a need to develop an area of the City which is already <br />built up to provide employment activities and improve the tax base and to improve the <br />general economy of the State and thereby serves as a public purpose. <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 <br />District Nos. 1, 2 and 4 with the Commissioner of Revenue. <br />Resolution #09-12-276 <br />Page 2 of 3 <br />