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I <br />1 <br />I <br />1 <br />I <br />I <br />1 <br />1 <br />1 <br />I <br />1 <br />EXHIBIT II -C <br />Analysis of City's Finding of Blight for Purposes of <br />Qualifying Tax Increment Financing District No. 1 as a <br />Redevelopment District pursuant to Minnesota Statutes <br />5273.73, Subd. 10(3): "Less than 70 percent of the parcels <br />in the district are occupied by buildings, streets, <br />utilities or other improvements, but due to unusual terrain <br />or soil deficiencies requiring substantial filling, grading <br />or other physical preparation for use at least 60 percent of <br />the total acreage of such land has a fair market value upon <br />inclusion in the redevelopment district which, when added to <br />the estimated cost of preparing that land for development, <br />excluding costs directly related to roads as defined in <br />section 160.01 and local improvements as described in <br />section 429.021, subdivision 1, clauses 1 to 7, 11 and 12, <br />and section 430.01, if any, exceeds its anticipated fair <br />market value after completion of said preparation; ". <br />1. Estimated Fair Market Value of <br />Property in Tax Increment <br />Financing District No. 1 <br />2. Cost of Physical Preparation of <br />the Land within Tax Increment <br />Financing District No. 1: <br />A . <br />17p <br />TOTAL <br />Estimated Fair Market Value of <br />Property in Tax Increment <br />Financing District No. 1 after <br />Physical Preparation of Land <br />is completed <br />$ <br />1 II -C -1 <br />