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• <br />• <br />(b) The proposed redevelopment in the opinion of the City Council, would not <br />occur solely through private investment within the reasonably foreseeable future and therefore <br />the use of tax increment financing is deemed necessary. <br />1212291.2 <br />The reasons supporting this finding are that: <br />Private investment will not finance these development activities because <br />of prohibitive costs. It is necessary to finance these development activities <br />through the use of tax increment financing so that other development by private <br />enterprise will occur within Development District No. 1. <br />(c) The Tax Increment Financing Plan, as amended, for Tax Increment Financing <br />District No. 2 conforms to the general plan for development or redevelopment of the City of <br />Ramsey as a whole. <br />The reasons for supporting this finding are that: <br />(i ) <br />Tax Increment Financing District No. 2 is properly zoned; and <br />(ii) The Tax Increment Financing Plan, as amended, will generally <br />compliment and serve to implement policies adopted in the City's <br />comprehensive plan. <br />(d) The Tax Increment Financing Plan, as amended, will afford maximum <br />opportunity, consistent with the sound needs of the City of Ramsey as a whole, for the <br />development or redevelopment of Development District No. 1 by private enterprise. <br />The reasons supporting this finding are that: <br />The development activities are necessary so that development and <br />redevelopment by private enterprise can occur within Development District No. 1. <br />5. Tax Increment Financing District No. 8. There is established in the City of <br />Ramsey within Development District No. 1 a tax increment financing district, the initial <br />boundaries of which are fixed and determined as described in the Tax Increment Financing Plan. <br />6. Tax Increment Financing Plan. The Tax Increment Financing Plan. is <br />adopted as the Tax Increment Financing Plan for Tax Increment Financing District No. 8, and the <br />City Council makes the following findings: <br />(a) Tax Increment Financing District No. 8 is a redevelopment district as <br />defined in Minnesota Statutes, Section 469.174, Subd. 10(a)(1), the specific basis for such <br />determination being that...parcels consisting of 70% of the area of the district are occupied by <br />