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F~hD_dingfi__R~lated to the Modification of DevelopmeDt
<br />
<br /> 2,(!ii. '~'1, ~ (b~',ncJ. 1 bexeby finds that the modification of Development
<br />bisti:i('i- ;!~;~ i Js intended, g~d in the judgment of the Council, its effect
<br />w~ll b( ~, i["i c, vicle an impetus for commercial development in the City,
<br />J.ncrea~',~~ ~i.]. ~ymei,t, and otherwise promote certain public purposes and
<br />accomp.] J>',~ ~. 71~aj.~ objectives as s~ecified in the Development Program.
<br />
<br /> 2 0q .i'I,~ Citl~ has previously adopted and modified a Program for
<br />Deve].ol',m~?~ l~i~t:rJ.ct No,, lo Except to the extent the modified Program
<br />acloL'~e~i i~ ~ ~:~..,~[t~l~ ~,xplJ¢.'.J t'.]y or by reasonably necessary implication amends
<br />tile pr~¥ [~<(~;i~':/ ~re(]if:i.ed Prcgram, such Program continues to be an expression
<br />
<br />~c:i:i(,l~. ~.. ?indings.' ' ~ ' to
<br /> · Re.laced ... the Establishment of Tax Increment
<br />
<br /> 3,(}1. .,I .:is the opi~,ion of tile Council that development of the
<br />pr'oLer'i;?_.~: j~ ,~]uded within Tax Increment Financing District No. 2 would not
<br />reasonai~l('~ ~ e;q:.ect:ed to occur solely through private investment within
<br />tile re~',()i.cb.!,./ foreseeable future due to the lack of adeuqate streets and
<br />public l~i-ij~i-I .ia,;~ and that the use of tax increment financing for certain
<br />site i]~q,r~,~:,~, ~r~:;~; withir~, this area is therefore necessary.
<br />
<br />(:c~mcJ] llJ.~(]s that the Tax Increment Financing Plan for Tax
<br />~'~i~:anc:jng District No. 2 conforms to the general plan for
<br />~:h~ CJ.ty~ based upon the recommendations of city staff,
<br />for co~struction of streets, water, sanitary sewer, storm
<br />~[.~ghtJng facilities needed to pr~ote development in the
<br />
<br /> 3.,0'.~ '.I'! ,~:- (lounci] fi,ds that the Tax Incre3aent Financing Plan for Tax
<br />inci;en~_.iil l.'-;i'.:ancJ.n(.~ Dis'h~J. ct No. 2 will afford maximum opportunity,
<br />consi,~-;: ~ml %~';i~ the soured needs ot the City as a whole, for development of
<br />the Dj~i~,j~ by private enterprise by providing the infrastructure
<br />)).ece',~.'~,~,~ y ';,~ ,~:mco~rage develo~f)ent of the area.
<br />
<br /> 3~(i/., '~] (i: Coun¢_:J]. J'urt:her finds that the establishment of Tax
<br />!ncrem~,i~[ i'.ir:lucJng District No. 2 is intended and, in the judgment of the
<br />Council.,, J-i:~ ,~-~ffeect wi[l.[l be to promote the public purposes and accomplish
<br />the ot-)],,,ci~i-,~,~ ~l.ecified :i.n the Tax Incremlent Financing Plan.
<br />
<br /> S,( ~. <,~,,. 4.. Approval of the Modified._Development Program and T~x
<br />~nc ]. e~[~.._~..~.~.~ ~.tn~.~_~La :Pla j).
<br />
<br /> 4,.I)_1 '~'},~ <~.~hf:t.ea lmvel%~ent Program for Development District No. 1
<br />and '[:h~: %-: ] ;',c~:c,ment '~' -'"
<br /> ['.,.nart(,.m9 Pl~ for Tax Incr~ent Financing District
<br />No. 2 :~)~ ]~ ~(".l~]? app):ow~d and ador~ed~
<br />
<br /> 4~(~3' '~]e ,.~(:,ograpt~J.c P~udarJ.es of expande~ Development District No. 1
<br />and o~ '[,.~;: ]~r~c];ement Fj. nancJ, rig District No. 2 are described in the
<br />~w~]ol.~e,;. ;~ ~;og~m and Tax Increment Financing Plan therefore and are
<br />ir).corp~ ~:~,4 ,,,~ ['<'~r(':J.n by refereDce.
<br /> ~solution ~88-55
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