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I <br /> <br />! <br /> <br />I <br /> <br />I <br /> <br /> (b) The proposed redevelopmenf in the opinion of the City Council, would not <br />occur solely through private investment within the reasonably foreseeable future and therefore <br />the usc of tax increment financing is deemed necessary. <br /> <br />The reasons, suppOrting this finding are that: <br /> <br /> Private investment will not finance these development activities because <br />of prohibitive costs. It is necessary to finance these development activities <br />through the use of tax increment financing so that other development by private <br />enterprise will occur within Development District No. 1. <br /> <br /> (c) The Tax Increment Financing Plan, as amended, for Tax Increment Financing <br />District No. 2 conforms to the general plan for development or redevelopment of the City of' <br />Ramsey as a whole. <br /> <br />The reasons for supporting this finding are that: <br /> <br />(i) Tax Increment Financing District No. 2 is properly zoned; and <br /> <br />The Tax Increment Financing Plan, as amended, will generally <br />compliment and serve to implement policies adopted in the City's <br />comprehensive plan. <br /> <br /> (d) The Tax Increment Financing Plan, as amended, will afford maximum <br />opportunity, consistent with the sound needs of the City of Ramsey as a whole, for the <br />development or redevelopment of Development District No. 1 by private enterprise. <br /> <br />The reasons supporting this finding are thati <br /> <br /> The development activities are necessary so that development and <br />redevelopment by private enterprise can occur within Development District No. 1.' ............................ ' <br /> <br /> 5. Tax Increment Financinq District No. 8. There is established in the City of <br />Ramsey within Development District No. 1 a tax increment financing district, the initial <br />boundaries of which are fixed and determined as described in the Tax Increment Financing Plan. <br /> <br /> 6. Tax Increment Financing Plan. The Tax Increment Financing Plan, is <br />adopted as the Tax Increment Financing Plan for Tax Increment Financing District No. 8, and the . <br />City Council makes the following findings: <br /> <br /> (a) Tax Increment Financing District No. 8 is a redevelopment district as <br />defined in Minnesota Statutes, Section 469.174, Subd. 10(a)(1), the specific basis for such <br />determination being that...parcels consisting of 70% of the area of the district are occupied by <br /> <br />1212291.2 3 <br /> <br />-155- <br /> <br /> <br />