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County along with a notice of the public hearing as req~uired by <br />the Acts. <br /> <br /> 1.07. The City Council has fully reviewed the contents of <br />the modified Program and TIF Plan 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. Findinqs~ 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 <br />commercial and industrial development in the City, increase <br />employment, and otherwise promote the public purposes and <br />accomplish 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 <br />reaffirmed. <br /> <br />Section 3. Findinqs~ Tax Increment Financinq 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 <br />Development District and the City as a whole, and for the <br />protection and preservation of the public health, safety, and <br />general welfare, that the authority of the TIF Act be exercised <br />by the City to provide public financial assistance to the TIF and <br />Development 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. 2 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 opportun- <br />ities 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 /> 3.05. The modified TIF Plan will afford maximum <br />opportunity, consistent with the sound needs of the City as a <br />whole, for the development of the TIF and Development Districts <br />by private enterprise. <br /> <br /> <br />