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SECTION II. <br /> <br />TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT <br />FINANCING DISTRICT NO. 2 <br /> <br /> A. Statutory Authority. <br /> <br /> The City seeks to adopt a TIF Plan for Tax Increment Financ- <br />ing District No. 2 pursuant to the TIF Act. <br /> <br />~tatement of Objectives. <br /> <br /> In addition to the objectives outlines in Section I, subdi- <br />vision D hereof, the City seeks to achieve the following objec- <br />tives through the Plan for TIF District No. 2: <br /> <br />1. provide employment opportunities within the City; <br /> <br />improve the tax base of the City and the general <br />economy of the City and State; <br /> <br />encourage development in an area of the City which has <br />not been utilized to its full potential; <br /> <br />improve street, water and sanitary sewer facilities <br />within a portion of the City guided for industrial use; <br />and <br /> <br />5. implement relevant portions of the Comprehensive Plan. <br /> <br />C. Statement of Public Purpose. <br /> <br /> In amending the Development Program and adopting the Plan <br />for TIF District No. 2, the City Council intends to make the <br />following findings: <br /> <br />Anticipated development would not reasonably be expect- <br />ed to occur solely through private investment within <br />the reasonably foreseeable future and, therefore, the <br />use of TIF is deemed necessary; <br /> <br />The TIF Plan will afford maximum opportunity, consis- <br />tent with the sound needs of the City as a whole, for <br />development of the District by private enterprise; and <br /> <br />The TIF Plan conforms to general plans for development <br />of the City as a whole. <br /> <br />6 <br /> <br /> <br />