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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, as enlarged by private <br />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 />4. Public Purpose. The adoption of the modified Tax <br />Increment Financing Plan for Thunder Bay Tax Increment Financing <br />District No. 1 conforms in all respects to the requirements of <br />the Act and will help fulfill a need to develop an,area of the <br />City which is already built up to provide employment <br />opportunities to improve the tax base and to improve the general <br />economy of the State and thereby serves a public purpose. <br />5. Filing. The City Administrator is further <br />authorized and directed to file a copy of the modified Tax <br />Increment Financing Plan for Thunder Bay Tax Increment Financing <br />District No. 1 with the Commissioner of Revenue. <br />The motion for the adoption of the foregoing resolution <br />was duly seconded by member and upon vote being <br />taken thereon, the following voted in favor thereof: <br />and the following voted against the same: <br />adopted. <br />20596 <br />Whereupon said resolution was declared duly passed and <br />3 <br />Page 7 <br />