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13028514v1 <br /> <br /> <br /> 2 <br /> <br />1. Findings for the Modification of the Project Area and Adoption of the <br />Redevelopment Plan Modification. <br />(a) The boundaries of the Project Area, as enlarged, are fixed and determined <br />as described in the Redevelopment Plan Modification. <br />(b) The Redevelopment Plan Modification is adopted as the redevelopment <br />plan for the Project Area, as enlarged, and the City Council makes the following findings: <br />(i) The Council hereby finds that the land in the Project Area, as <br />enlarged, would not be made available for development and <br />redevelopment without the financial aid to be sought. <br />(ii) The Council further finds that the Redevelopment Plan <br />Modification will afford maximum opportunity, consistent with the <br />needs of the City as a whole, for the development and <br />redevelopment of the Project Area, as enlarged, and adjacent areas <br />by private enterprise; <br />(iii) The Council further finds that the Redevelopment Plan <br />Modification conforms to the general plan for the development or <br />redevelopment of the City as a whole, and the anticipated <br />development is in furtherance of long range plans of the City for <br />the Project Area, as enlarged; and <br />(c) The Redevelopment Plan Modification, a copy of which is on file in the <br />office of the City Administrator, is adopted as the redevelopment plan for the Project <br />Area, as enlarged. <br />2. Findings for the TIF Plan Modification. <br />(a) The Council hereby reaffirms the original findings for the TIF District, <br />namely that when the TIF District was established, it was designated as a housing district <br />as defined in Minnesota Statutes, Section 469.174, Subd. 11, the specific basis for such <br />determination is set forth in Appendix C of the TIF Plan Modification. <br />(b) The boundaries of the TIF District are not being modified. <br />(c) The duration term of the TIF District is not being extended. <br />(i) The proposed development, in the opinion of the City, would not <br />reasonably be expected to occur solely through private investment <br />within the reasonably foreseeable future. The reasons for such <br />determination are set forth in Appendix C of the TIF Plan <br />Modification. <br />(ii) The TIF Plan Modification conforms to the general plan for <br />development or redevelopment of the City as a whole. The reasons