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facility and an extension of water and sanitary sewer to an area <br />designated in the Comprehensive Plan for industrial use. <br /> <br />H. ~roposed Reuse of Property <br /> <br /> The Development Program does not contemplate the acquisition <br />of private property within Development District No. 1 until such <br />time as a private developer presents an economically feasible <br />program for the reuse of that property. In order to be consid- <br />ered, proposals must be consistent with Development Program <br />objectives and financially feasible. Prior to acquisition of any <br />property, the City Council will require a development contract <br />and other guarantees that sufficient tax increment or other funds <br />will be available to repay the public cost associated with the <br />proposed acquisition. It is the intent of the City to negotiate <br />for the acquisition of property whenever possible, but the City <br />will use its powers of eminent domain to acquire property if <br />required. Appropriate restrictions regarding the reuse and <br />redevelopment of property shall be incorporated into any develop- <br />ment contract to which the City is a party. <br /> <br />I. Development District Financing <br /> <br /> Within Development District No. 1, the City plans to create <br />TIF Districts to finance development activities. The TIF Dis- <br />tricts will be created at such time as will enable the City to <br />capture the increase in assessed value of private development to <br />be constructed within the Development District. Project costs <br />will be met through pledged increments and assessments for public <br />improvements. <br /> <br />J. Relocation. <br /> <br /> The City anticipates that no relocation will be necessary <br />but accepts its responsibility for providing for relocation <br />pursuant to Section 472A.12 of the Municipal Development District <br />Act. If relocation is necessary, provisions will be made in <br />accordance with Minnesota Statutes, Sections 117.50 through <br />117.56, inclusive. <br /> <br />K. Administration of Development District. <br /> <br /> Maintenance and operation of the public improvements will be <br />the responsibility of the Administrator of Development District <br />No. 1. Each year the Administrator will submit to the City <br />Council the maintenance and operation budget for the following <br />year. The Administrator will administer the Development District <br />pursuant to the provisions of Section 472A.10 of the Municipal <br />Development District Act; provided, however, that such powers may <br />only be exercised at the direction of the City Council. No <br /> <br /> <br />