Agenda - Council - 04/24/1990 - Laserfiche WebLink

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1.07. Independent School District No. 11 and Anoka County both notified the City in writing of their intent to waive the 30-day notice period in advance of the public hearing, as provided in Section 469.175, Subd. 2 of the TIF Act. 1.08. The City Council has fully reviewed the contents of the modified Program and the Plan and on this date conducted a public hearing thereon at which the views of all interested persons were heard. Section 2. Findinqs; Development District. 2.01. The City Council finds that the modified Program for Development District No. 1 is intended, and in the judgment of the Council its effect will be, to provide an impetus for commercial and industrial development in the City, increase employment, and otherwise promote the public purposes and accomplish the objectives as specified in the modified Program. 2.02. The findings made by the City Council at the time of the adoption of the Program on August 27, 1985 are hereby reaffirmed. Section 3. Findinqs; Tax Increment Financinq District. 3.01. It is found and determined that it is necessary and desirable for the sound and orderly development of the Development District and the City as a whole, and for the protection and preservation of the public health, safety, and general welfare, that the authority of the TIF Act be exercised by the City to provide public financial assistance to the TIF and Development Districts. 3.02. It is further found and determined, and it is the reasoned opinion of the City, that the development proposed in the Program and the Plan could not reasonably be expected to occur solely through private investment within the reasonably foreseeable future and that therefore the use of tax increment financing is necessary. 3.03. The proposed public improvements to be financed in part through tax increment financing are necessary to permit the City to realize the full potential of the TIF and Development Districts in terms of development intensity, employment opportun- ities and tax base. 3.04. The Plan conforms to the general plan of development of the City as a whole.