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development after subtracting the present value of the projected tax <br />increments for the maximum duration of the District permitted by the TIF <br />Plan: The City supported this finding on the grounds that the project <br />includes expansion of a facility within Ramsey that could be developed in <br />another state. The City reasonably determines that no other development <br />of similar scope is anticipated on this site without substantially similar <br />assistance being provided to the development. <br />Therefore, the City concludes as follows: <br />a. The City's estimate of the amount by which the market value of the <br />entire District will increase without the use of tax increment financing <br />is $0. <br />b. If the proposed development occurs, the total increase in market value <br />will be $5,222,400 (see Appendix C of the TIF Plan) <br />c. The present value of tax increments from the District for the maximum <br />duration of the district permitted by the TIF Plan is estimated to be <br />$542,787 (see Appendix C of the TIF Plan). <br />d. Even if some development other than the proposed development <br />were to occur, the Council finds that no alternative would occur that <br />would produce a market value increase greater than $4,679,613 (the <br />amount in clause b less the amount in clause c) without tax increment <br />assistance. <br />3. Finding that the TIF Plan for Tax Increment Financing District No. 19 (Zero <br />Zone) conforms to the general plan for the development or redevelopment <br />of the municipality as a whole. <br />The City Council reviewed the TIF Plan and found that the TIF Plan <br />conforms to the general development plan of the City. <br />4. Finding that the Tax Increment Financing Plan for Tax Increment Financing <br />District No. 19 (Zero Zone) will afford maximum opportunity, consistent <br />with the sound needs of the City as a whole, for the development of <br />Development District No. 1 by private enterprise. <br />The project to be assisted by the District will result in increased <br />employment in the City and the State of Minnesota, increased tax base of <br />the State, and add a high -quality development to the City. Further, the <br />assistance will ensure the company does not invest in an alternative <br />facility this is not located with the State. <br />City of Ramsey <br />Tax Increment Financing District No. 19 (Zero Zone) <br />