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. , _ _ . <br />Section 2. Findings ror the Adoption and Approval of the <br />Plans. <br />2.01. The Board hereby finds that the Plans are in the <br />public interest and that the proposed development would not occur <br />solely through private investment within the reasonably <br />foreseeable future and, therefore, the use of tax increment <br />financing is deemed necessary; that the Plans conform to the <br />general plan for -the development or redevelopment of the City as <br />a whole; and that the Plans will afford maximum opportunity, <br />consistent with the sound needs of the City as a whole, for the <br />development of the Mounds View Economic Development Project by <br />private enterprise. <br />2.02. The Board further finds that the Plans are intended <br />and, in the judgment of the Board, their effect will be, to <br />promote the public purposes and accomplish the objectives <br />specified in the tax increment financing plans and the Project <br />Plan for the Mounds View Ecanomic Development Project. <br />Section 3. Approval and Adoption of the Plans. <br />3.01. The Plans, as presented to the Board on this date, <br />are hereby approved, established, and adopted; provided that the <br />foregoing approval is conditioned upon approval thereof by the <br />City Council following its public hearinq thereon. <br />Adopted by the Board of Commissioners of the Mounds.View <br />Economic Development Authority on May 9, 1994. <br />Commissioner moved the adoption of the <br />foregoing resolution, which motion was duly seconded by <br />Commissioner , and upon vote being taken <br />thereon, the following vo�ed in favor thereof: <br />and the following voted against the same: <br />262071.1 <br />