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2. The total square foot area of buildings and site improvements on the parcels in the <br />proposed TIF District was obtained from City records, GIS mapping and site <br />verification. <br />3. The percentage of coverage for each parcel in the proposed TIF District was <br />computed to determine if the 15 percent minimum requirement was met. The total <br />square footage of parcels meeting the 15 percent requirement was divided into the <br />total square footage of the entire district to determine if the 70 percent requirement <br />was met. <br />Finding: <br />The proposed TIF District met the coverage test under Minnesota Statutes, Section <br />469.174, Subdivision 10(e), which resulted in parcels consisting of 100 percent of the <br />proposed TIF District being occupied by buildings, streets, utilities, paved or gravel <br />parking lots, or other similar structures (Diagram 2). This exceeds the 70 percent area <br />coverage requirement for the proposed TIF District under Minnesota Statutes, Section <br />469.174, Subdivision (a) (1). <br />Diagram 2 — Coverage Diagram <br />Shaded area depicts a parcel more than 15 percent occupied by buildings, streets, utilities, <br />Paved or gravel parking lots or other similar structures <br />Note: parcel 7 includes a municipal infrastructure project that does not appear in this aerial photo. <br />Page 8 <br />