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Financi-'~? i~~i ~n For T. ax Increment Financing District No. 2; and
<br />holding ~)! a~ public hearing regarding the Program and the Plan
<br />upon su"h r(~-i Jc:e as ia required by law.
<br />
<br /> ].(I/' ?'l:,c, proposed modified Development Program and proposed
<br />Tax Inc,'-em~:~'i Fi~ancing Plan are contained in a document entitled
<br />"Develoi~,m~m~ Program, Development District No. 1 and Tax Incre-
<br />ment FJ~,.o~.,::~:~. Plan, q~ax Increment Financing District No. 2, City
<br />of Ramsev~ i~iinnesota'', dated June 30, 1986 and on file in the
<br />office ,I ~.h~ C~.~:y Ac.m]..n]~trator.
<br />
<br />District Nc,., '_1 .
<br />
<br />Findinqs for the Modification of Development
<br />
<br /> 2.(~J '?l:e Counci) hereby finds that the modification through
<br />enlarge).nr~]~'~ < f Development District No. 1 is intended, and in the
<br />judgmenl~ (~l ~l-!e Council, its effect will be to provide an impetus
<br />for con, meFc, J.~] and industrial development in the City, to in-
<br />crease :'_m'~>[~(~j-men~, and_ otherwise promote certain public purposes
<br />an~ accc~m?..~i::l~, certaJ_n objectives as specified in the modified
<br />Deve]olpm~-,],? l'rogram.
<br />
<br /> .,e :~:ic,~ .:~ Findings Related to the Establishment of Tax
<br />Incremer,.~u ~!~.~i [~:_r.,_cj~g District No. 2.
<br />
<br /> B.(il 'P:.e Council finds that at least 70 percent of the
<br />parcels ~i~}~n [!!ax Increment Financing District No. 2 are occu-
<br />pied by ~,~il iinqs, streets, utilities or other improvements and
<br />that a-h f.c:,~'~ ~t 20 percent of the buildings are structurally
<br />substan't~-~'J ;.nd that at least an additional 30 percent of the
<br />buildin~{~': ]eou~re substantial renovation or clearance within the
<br />meaning ~,~ l',lJnnesota Statutes, Section 273.73, subd. 10(a} (2), as
<br />spec, ifi~:~i]y :i. OentJ. fied in. the Tax Increment Plan.
<br />
<br /> 2.~)7 !i': is the opinion of the Council that the proposed
<br />develop]r.,',~[ ,.-~ouild not reasonably be expected to occur solely
<br />throuqh ~.,:c 4 va'he inves±:ment within the reasonably foreseeable
<br />future ;-~,! I~i~.at the use of tax increment financing is therefore
<br />nece s ~ Et:~ [5,
<br />
<br /> 3 ~ !):: I'_t(~ (~ouncil finds that the Tax Increment Financing
<br />Plan fo~- 'i'~ux In¢:rement Financing District No. 2 conforms to the
<br />genera]_ it~l~]~ f~r development of the City, based upon the recom-
<br />mendati~ ;~ (,'~ c:i. ty staf:f and the planning commission.
<br />
<br /> :~.04 't')~o Council finds that the Tax Increment Financing
<br />Plan fo~- ?.'~::. Increment Financing District No. 2 will afford
<br />maximum ,:>i/r,~:~-huDity, consistent with the sound needs of the City
<br />as a w]ao[~-,, for development of the District by private enter-
<br />prise ~
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