Laserfiche WebLink
which found that they conform to and are not in conflict with the <br />general plan for the development of the City as a whole. <br /> <br /> 1.07. Copies of the modified Program and TIF Plans have <br />been forwarded to Independent School District No. 11 and to Anoka <br />County along with a notice of the public hearing as required by <br />the Acts. <br /> <br /> 1.08. The City Council has fully reviewed the contents of <br />the modified Program and TIF Plans and has this date conducted a <br />public hearing thereon at which the views of all interested <br />persons were heard. <br /> <br />Section 2. Findings; Development District. <br /> <br /> 2.01. The City council finds that the modified Program for <br />Development District No. 1 is intended, and in the judgment of <br />the Council its effect will be, to provide an impetus for com- <br />mercial and industrial development in the City, increase employ- <br />ment, and otherwise promote the public purposes and accomplish <br />the objectives as specified in the modified Program. <br /> <br /> 2.02. The findings made by the City Council at the time of <br />the adoption of the Program on August. 27, 1985 are hereby reaf- <br />firmed. <br /> <br /> Section 3. ~i~dSn~s; <br />No. 1. <br /> <br />Tax Increment FinanciD~ District <br /> <br /> 3.01~ It is found and determined that it is necessary and <br />desirable for the sound and orderly development of the Develop- <br />ment District and the City as a whole, and for the protection and <br />preservation of the public health, safety, and general welfare, <br />that the authority of the TIF Act be exercised by the City to <br />provide public financial assistance to the TIF and Development <br />Districts. <br /> <br /> 3.02. It is further found and determined, and it is the <br />reasoned opinion of the City, that the development proposed in <br />the modified Program and the modified TIF Plan for TIF District <br />No. 1 could not reasonably be expected to occur solely through <br />private investment within the reasonably foreseeable future and <br />that therefore the use of tax increment financing is necessary. <br /> <br /> 3.03. The proposed public improvements to be financed in <br />part through tax increment financing are necessary to permit the <br />City to realize the full potential of the TIF and Development <br />Districts in terms of development intensity, employment opportu- <br />nities and tax base. <br /> <br /> 3.04. The modified TIF Plan conforms to the general plan of <br />development of the City as a whole. <br /> <br />2 <br /> <br /> <br />