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and
<br />(2) the condi tions described in clause (I) are reasonable distributed throughout the geographic
<br />area ()Pile district.
<br />(h) For purposes redetermining whether a building is struchwally substandard, whether parcels are
<br />occupied by buildings, streets., utilities, paved or gravel parking lots, or other similar. structures,
<br />or whether noncontiguous areas qualify, the provisions of subdivision 10, paragraphs (c), (e),
<br />and. (f) apply.
<br />In meeting the statutory criteria the City relies on the following facts and findings:
<br />• The District is a renewal and renovation district consisting of ten parcels in two separate areas and each
<br />area meets the requirements separately.
<br />• An inventory shows that parcels consisting of more than 70 percent of the area in the District are
<br />occupied by buildings, streets, utilities, paved or gravel parking lots, or other similar structures.
<br />• An inspection of the buildings located within the District finds that more than 20 percent of the buildings
<br />are structurally substandard as defined in the '1'IF Act. (See Appendix F).
<br />• An inspection of the buildings located within the District finds that more than 30 percent of the buildings
<br />require substantial renovation or clearance to remove existing conditions such as defined in the TIF Act.
<br />(See Appendix F).
<br />Pursuant to MS., Sections 469.176 Sabel. 7, the District does not contain any parcel or part of a parcel that
<br />qualified under the provisions of Iv1.S., Sections 273.111 or 273.112 or Chapter 473H for taxes payable in
<br />any of the five calendar years before the filing of the request for certification of the District.
<br />Subsection 2 -7. Duration of the District
<br />Pursuant to MS., Section 469.175, Subd. 1, and Section 469.176, Subd. 1, the duration of the District must
<br />be indicated within the TIF Plan. Pursuant to M.S., Section 469.176, Subd. I b, the duration of the District
<br />will be 15 years after receipt of the first increment by the City (a total of 16 years of tax increment). The date
<br />of receipt by the City of the first tax increment is expected to be 2010. Thus, it is estimated that the District,
<br />including any modifications of the III' Plan for subsequent phases or other changes, would terminate after
<br />2025, or when the TIF Plan is satisfied. I f increment is received in 2009, the term of the District will be 2024.
<br />The City reserves the right to decertify the District prior to the legally required date.
<br />(AS MODIFIED , 2011)
<br />Pursuant to M.S., Section 469.175, Subd. 1, and Section 469.176, Subd. 1, the duration of the District
<br />must be indicated within the TIF Plan. Pursuant to M.S., Section 469.176, Subd. 1b, the duration of
<br />the District will be 15 years after receipt of the first increment by the City (a total of 16 years of tax
<br />increment). The date of receipt by the City of the first tax increment was July, 2010. Thus, it is
<br />estimated that the District, including any modifications of the TIF Plan for subsequent phases or other
<br />changes, would terminate after December 31, 2025, or when the'FIF Plan is satisfied. The City reserves
<br />the right to decertify the District prior to the legally required date.
<br />Subsection 2 -8. Original Tax Capacity, Tax Rate and Estimated Captured Net Tax Capacity
<br />Value /Increment and Notification of Prior Planned Improvements
<br />Pursuant to MS., Section 469.174, Subd. 7cnnd NLS., Section 469.177, Subd. 1, the Original Net Tax Capacity
<br />City of Little Canada
<br />Fax Increment Financing Plan !briar Increment Financing District No. 3 -1 2 -3
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