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increased market value would be up to$29,641,900. The present value of tax increments from District No. <br /> 1-9 is estimated to be$2,276,967. It is the Council's finding that no development with a market value of <br /> greater than$26,254,455 would occur without tax increment assistance in this district within 9 years. This <br /> finding is based upon evidence from general past experience with the high cost of acquisition and public <br /> improvements in the general area of District No. 1-9 (see Cashflow in Appendix D). <br /> 3. Finding that the Tax Increment Financing Plan for District No. 1-9 conforms to the general plan for the <br /> development or redevelopment of the municipality as a whole. <br /> The Plan was reviewed by the Planning Commission on December 9, 1998. The Planning Commission <br /> found that the Plan conforms to the general development plan of the City. <br /> 4. Finding that the Tax Increment Financing Plan for District No. 1-9 will afford maximum opportunity, <br /> consistent with the sound needs of the City as a whole,for the development of Development District No. <br /> 1 by private enterprise. <br /> The project to be assisted by District No. 1-9 will result in increased employment in the City and the State <br /> of Minnesota, increased tax base of the State, and add a high quality development to the City. <br /> N:\Mimsota\LINOLAKE\TIFI-9\city_res.wpd <br />