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facades, roofs, and interior repair <br />• essential for an appropriate use for <br />building to contribute to the City's <br />base and provide a vital business <br />intersection for the City of Falcon <br />would be <br />th e <br />economic <br />Heights. <br />(b) The proposed redevelopment in the opinion of the <br />City Council, would not occur solely through private investment <br />within the reasonably foreseeable future and therefore the use <br />of tax increment financing is deemed necessary. <br />The reasons supporting this finding are that in over <br />two years since a fire destroyed the largest business in the <br />district no development has occurred. The buildings remaining <br />are substandard and must be upgraded or cleared to generate any <br />new business or revenues for the City. <br />(c) The Tax Increment Financing Plan conforms to the <br />general plan for development or redevelopment of the City of <br />Falcon Heights as a whole. <br />The reasons supporting this finding are that the <br />proposed retail/office project conforms with the Master Plan <br />for t'ne City of Falcon Heights. The district is the hub of the <br />City of Falcon Heights business zone which is in need of <br />revitalizing.. It is anticipated that this project is the first <br />• phase of anticipated comprehensive redevelopment of the area. <br />(d) The Tax Increment Financing Plan will afford <br />maximum opportunity, consistent with the sound needs of the <br />City of Falcon Heights as a whole, for the development ar <br />redevelopment of Tax Increment Finance District No. 1 by <br />private enterprise. <br />The reasons supporting this finding are that since a <br />fire destroyed the principal retail business in the District <br />two years ago, this principal business district and major <br />intersection of the City of Falcon Heights has remained a <br />blighted area. The developer has indicated an interest in <br />pursuing a development but such development is dependent upon. <br />the Tax Increment Financing Plan. The development is critical <br />to the first phase of anticipated, comprehensive development of <br />the entire intersection. It is the first step and is essential <br />to the on-going interest and development for the entire area. <br />(e) The City of Falcon Heights elects the method of <br />tax increment computation set forth in Minnesota Statutes, <br />Section 273.76, Subd. 3, clause a <br />• <br />