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Section 2. Findings for the Adoption and Approval of the <br /> Plans. <br /> 2 . 01. The Council 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 because the anticipated development is in furtherance of <br /> long range plans of the City for the development areas; and that <br /> the Plans will afford maximum opportunity, consistent with the <br /> sound needs of the City as a whole, for the development of the <br /> Mounds View Economic Development Project by private enterprise <br /> because they will enable the EDA to provide and finance suitable <br /> and necessary public inducements. <br /> 2 . 02 . The Council further finds that the Plans are intended <br /> and, in the judgment of this Council, 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 Economic Development Project, which are <br /> all consistent with the efforts already made for the development <br /> of the subject areas. <br /> 2 . 03 . The bases, reasons and justifications for the <br /> findings made in the Plans and this Resolution include the nature <br /> and location of the various properties to be improved, the <br /> deficiencies respecting those properties, and the development and <br /> redevelopment needs of the City, all of which necessitate tax <br /> increment and related public assistance in order to facilitate <br /> the desired improvements. <br /> Section 3 . Approval and Adoption of the Plans. <br /> 3 . 01. The Plans, as presented to the Council on this date, <br /> including without limitation the findings and statements of <br /> objectives contained therein, are hereby approved, ratified, <br /> established, and adopted and shall be placed on file in the <br /> office of the City Clerk-Administrator. <br /> Adopted on May 9, 1994 , by the Mounds View City Council. <br /> Councilmember moved the adoption of the <br /> foregoing resolution, the reading of which was dispensed with by <br /> unanimous consent of the Council, and said motion was duly <br /> seconded by Councilmember , and upon vote <br /> being taken thereon, the following voted in favor thereof: <br /> and the following voted against the same: <br /> whereupon said resolution was declared duly adopted. <br /> 7471171 1 <br />