Laserfiche WebLink
DEC 09 '98 02:25PM EHLERS & ASSOCIATES P.8 /8 <br />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: \Minnsota \LINOLAKE \TIF1.9 \city res.wpd <br />