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II. Do Statement of Authority Minnesota Statutes Section 469.001-469.047 (Housing and Redev_elopment Authority Act) grants muni_cipalities the__auth0n.'..ty to designate redevelopment areas within the boundaries of the municipalities. Within these areas, the mUnicipality may adopt a redevelopment plan and establish a project consistent with the municipality's public purpose. The project as contemplated by this plan consists of a redevelopment project as defined in Section 469.001, Subdivision 14. The lease with option to Purchase agreement is authorized under Minnesota Statutes, Section 465.71. Findings and Declaration The City and the HRA make the foliowing findings: I. The certain parcels of land in the project area would not be made available for redevelopment without some public financial aid. The redevelopment plans for the Redevelopment Area in the City will afford maximum opportunity consistent with the needs of the locality as a whole, for the redevelopment of the area by private enterprise. The Redevelopment Plan conforms to the general plan for development of the locality as a whole. REDEVELOPMENT PROGRAM mo Redevelopment Plan Objectives The HRA, through implementation of this plan, seeks tO achieve the following objectives: To provide for the least costly and most efficient Highway 10 Interchange Project for the City required to provide adequate City services to the region. To promote and seek the orderly and harmonious development of the Redevelopment Area. To provide logical and organized land use for the entire Redevelopment Area consistent with the Comprehensive Land Use Plan and the Zoning Ordinance of the City. To promote the prompt development of property in theRedevelopment Area with a minimal adverse impact on the environment. 1821261vl