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06-12-1990 Council Agenda
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06-12-1990 Council Agenda
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through the use of tax increment financing so that <br />other development will occur within Thunder Bay <br />Development District, as enlarged. <br />(c) The Tax Increment Financing Plan for Thunder Bay <br />Tax Increment Financing District No. 1 conforms to the general <br />plan for development or redevelopment of the City of Little <br />Canada as a whole. <br />The reasons for supporting this finding are that: <br />(i) Thunder Bay Tax Increment Financing District <br />No. 1 is properly zoned; and <br />(ii) The Tax Increment Financing Plan will <br />generally compliment and serve to implement <br />policies adopted in the City's comprehensive <br />plan. <br />(d) The Tax Increment Financing Plan will afford <br />maximum opportunity, consistent with the sound needs of the City <br />of Little Canada as a whole, for the development or redevelopment <br />of Thunder Bay Development District by private enterprise. <br />The reasons supporting this finding are that: <br />The development activities are necessary so that <br />development and redevelopment by private enterprise can <br />occur within Thunder Bay Development District, as <br />enlarged. <br />5. Public Purpose. The modified Development Program <br />for Thunder Bay Development District, and the adoption of the <br />modified Tax Increment Financing Plan for Thunder Bay Tax <br />Increment Financing District No. 1 conform in all respects to the <br />requirements of the Act and will help fulfill a need to develop <br />an area of the City which is already built up to provide <br />employment opportunities to improve the tax base and to improve <br />the general economy of the State and thereby serves a public <br />purpose. <br />6. ,Filing. The City Administrator is further <br />authorized and directed to file a copy of the modified <br />Development Program and modified Tax Increment Financing Plan for <br />Thunder Bay Tax Increment Financing District No. 1 with the <br />Commissioner of Revenue. <br />3187 <br />3 <br />Page 15 <br />
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