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The reasons supporting this finding are that: • The City of Falcon Heights needs to encourage population growth to avoid losing state aid. The ~ Plan permits private developers to develop affordable retirement housing. The project area is in a Target Area Census Tract and Home Mortgage Loan Program district for the State of Minnesota and therefore also qualifies for federally funded mortgage loans. One hundred new housing units will contribute to the City's tax base and will hopefully encourage hopefully other private enterprise. 4. Public Purpose. The modification of the Development Program for Development District No. 1 and the adoption of Tax Increment Financing Plan for Housing District No. 2 conform in all respects to the requirements of the Act and will help fulfill a need to develop an area of the City which is already built up to provide employment opportunities to improve the tax base, to provide housing for occupancy in part by persons or families of low or moderate income and to improve the general economy of the State and thereby serves a public purpose. 5. Certification. The Auditor of Ramsey County is requested to certify the original assessed value of Housing District No. 2 as described in the Tax Increment Financing Plan, and to certify in each year thereafter the amount by _ _ which the original assessed value has increased ~r decreased in accordance with the Act; and the Clerk-Administrator is authorized and directed to forthwith transmit this request to the County Auditor in such form and content as the Auditor may specify, together with a list of all properties within Housing District No. 2 for which building permits have been issued during the 18 months immediately preceding the adoption of this Resolution. 6. Filing. The Clerk-Administrator is further authorized and directed to file a copy of the Tax Increment Financing Plan for Housing District No. 2 with the Minnesota F~ergy and Economic Development Authority. 7. Administration. The administration of Development District No. 1 is assigned to the Clerk-Administrator who shall from time to time be granted such powers and duties pursuant to Minnesota Statutes, Sections 472A.09 and 472.10 as the City Council may deem appropriate.