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c. The present value of tax increments from the TIF District for the maximum duration of the <br />district permitted by the TIF Plan is estimated to be $3,691,880. <br />d. Even if some development other than the proposed development were to occur, the Council <br />finds that no alternative would occur that would produce a market value increase greater than <br />$11,853,020 (the amount in clause b less the amount in clause c) without tax increment <br />assistance. <br />3. Finding that the TIF Plan for the TIF District conforms to the general plan for the development or <br />redevelopment of the municipality as a whole. <br />The Planning Commission reviewed the TIF Plan and found that the TIF Plan conforms to the <br />general development plan of the City. <br />4. Finding that the TIF Plan for the TIF District will afford maximum opportunity, consistent with the <br />sound needs of the City as a whole, for the development or redevelopment of Development District <br />No. 7 by private enterprise. <br />The project to be assisted by the TIF District will result in increased employment in the City and the <br />State of Minnesota, the renovation of substandard properties, increased tax base of the State and add <br />a high-quality development to the City. <br />But-For Analysis <br />Current Market Value 5,229,700 <br />New Market Value - Estimate 20,774,600 <br />Difference 15,544,900 <br />Present Value of Tax Increment 3,691,880 <br />Difference 11,853,020 <br />Value Likely to Occur Without TIF is Less Than: 11,853,020 <br />Appendix G-2