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land use relationships, overcrowding of buildings on the land, <br />excessive dwelling unit density, obsolete buildings but <br />suitable for improvement or conversion, or other identified <br />hazards to the health, safety and general well -being of the <br />community. <br />(b) The proposed redevelopment in the opinion of <br />the City Council, would not occur solely through private <br />investment within the reasonably foreseeable future and there- <br />fore the use of tax increment financing is deemed necessary. <br />The reasons supporting this finding are that: <br />LEB Development, Inc. has represented to the <br />City that it would not undertake the project in <br />Little Canada without the City's use of tax <br />increment financing. Private investment will not <br />finance these development activities because of <br />prohibitive costs. It is necessary to finance these <br />development activities through the use of tax <br />increment financing so that other development by <br />private enterprise will occur within Development <br />District No. 2. <br />(c) The Tax Increment Financing Plan for Tax <br />Increment Financing District No. 2 -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 <br />that: <br />(i) Tax Increment Financing District No. 2 -1 <br />is properly zoned; and <br />(ii) The tax increment financing plan will <br />generally compliment and serve to <br />implement policies adopted in the City's <br />comprehensive plan. <br />(d) The Tax Increment Financing Plan will afford <br />maximum opportunity, consistent with the sound needs of the <br />City of Little Canada as a whole, for the development or <br />redevelopment of Development District No. 2 by private <br />enterprise. <br />The reasons supporting this finding are that <br />3 <br />