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• • • City of Lino Lakes, Minnesota (3) the City has no reason to expect that significant development would occur without assistance similar to that provided in this plan. Therefore, the City concludes as follows: a. The city's estimate of the amount by which the market value of the site will increase without the use of tax increment financing is $0, except for a small amount attributable to appreciation in land value. b. If all development which is proposed to be assisted with tax increment were to occur in the District, the total increase in market value would be approximately $16,963,000. c. The present value of tax increments from the District for the maximum duration of the district permitted by the TIF Plan is estimated to be $1,254,113 (See Exhibit V) d. Even if some development other than the proposed development were to occur, the Council finds that no alternative would occur that would produce a market value increase greater than $15,708,887 (the amount in clause b less the amount in clause c) without tax increment assistance. The TIF Plan conforms to the general plan for development or redevelopment of the City as a whole; and The reasons and facts supporting this finding are that the TIF District is properly zoned, and the TIF Plan has been approved by the City Planning Commission and will generally compliment and serve to implement policies adopted in the City's comprehensive plan. (4) The TIF Plan will afford maximum opportunity, consistent with the sound needs of the City as a whole, for the development of the Project Area by private enterprise. The reasons and facts supporting this finding are that the development activities are necessary so that development and redevelopment by private enterprise can occur within the Project Area. Section K Estimated Public Costs The estimated public costs of the TIF District are listed below. Such costs are eligible for reimbursement from tax increments of the TIF District. SPRINGSTED Page 6 P45 Original TIF (August 11, 2003) Modification No. 1 July 18, 2011 (DRAFT) Land /building acquisition 750,000 750,000 Site improvements /preparation costs 0 Public improvements 500,000 500,000 Parking facilities 0 Bond principal payments 1,785,000 1,785,000 Bond interest payments 475,000 475,000 Loan principal payments 0 Loan interest payments 0 Administrative expenses 130,000 130,000 Capitalized interest 120,000 120,000 Public improvements outside district 484,000 484,000 Other — special law for debt service payments on existing bonds 1,916,264 Total 4,244, 000 6,160,264 SPRINGSTED Page 6 P45