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3.05. The modified TIF Plan will afford maximum opportuni- <br />ty, consistent with the sound needs of the City as a whole, for <br />the development of the TIF and Development Districts by private <br />enterprise. <br /> <br /> 3.06. Approval of the modified TIF Plan is intended, and in <br />the City's judgment its effect will be, to promote the public <br />purposes and accomplish the objectives specified in the modified <br />Plan. <br /> <br /> 3.07. The findings made by the city Council at the time of <br />the creation of TIF District No. 1 on August 27, 1985 are hereby <br />reaffirmed. <br /> <br /> Section 4. Findings; Tax Increment Financing District <br />No. 4. <br /> <br /> 4.01. 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 /> 4.02. 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. 4 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 /> 4.03. 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 /> 4.04. The modified TIF Plan conforms to the general plan of <br />development of the City as a whole. <br /> <br /> 4.05. The modified TIF Plan will afford maximum opportuni- <br />ty, consistent with the sound needs of the City as a whole, for <br />the development of the TIF and Development Districts by private <br />enterprise. <br /> <br /> 4.06. Approval of the modified TIF Plan is intended, and in <br />the City's judgment its effect will be, to promote the public <br />purposes and accomplish the objectives specified in the modified <br />Plan. <br /> <br /> <br />