Laserfiche WebLink
b. If the proposed development occurs, the total increase in market value will be $5,945,400 (see <br />Appendix D and G of the TIF Plan) <br />c. The present value of' tax increments from the District for the maximum duration of the district <br />permitted by the TIF Plan is estimated to be $1,136,931 (see Appendix D and (3 of the TIF Plan). <br />d. Even if some development other than the proposed development were to occur, the Council finds <br />that no alternative would occur that would produce a market value increase greater than $4,808,469 <br />(the amount in clause b Tess the amount in clause c) without tax increment assistance. <br />3. Finding that the TIF Plan for the 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 general <br />development plan of the City. <br />4. Finding that the TIF Plan for the District will afford maximum opportunity, consistent with the sound needs <br />of the City as a whole, for the development or redevelopment of Development District No. 5 by private <br />enterprise. <br />The project to be assisted by the District will result in increased employment in the City and the State of <br />Minnesota, the renovation of substandard properties, increased tax base of the State and add a high quality <br />development to the City. <br />Through the implementation of the TIF Plan, the City will increase the availability of safe and decent life - <br />cycle housing in the City. <br />