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City of Mounds View TIF District No. 1 Modification 5 | P a g e other improvements and 28 percent of the buildings are structurally substandard and an additional 71 percent of the buildings are found to require substantial renovation or clearance in order to remove such existing conditions as: inadequate street layout, incompatible uses or land use relationships, overcrowding of buildings on the land, excessive dwelling unit density, obsolete buildings not suitable for improvement or conversion, or other identified hazards to health, safety and general well-being of the community. The 7 structures on the 10 parcels of land constituting the redevelopment district have been investigated by consultants. Two of the 7 buildings are deteriorated and structurally substandard to a degree requiring clearance and 5 other structures are found to require substantial renovation in order to remove such existing conditions as: inadequate street layout, incompatible uses or land use relationships, overcrowding of buildings on the land, excessive dwelling unit density, obsolete buildings not suitable for improvement or conversion, or other identified hazards to the health, safety and general well-being of the community. Thus, the tax increment financing district appears to meet the statutory requirements of a redevelopment district and will henceforth be referred to as a redevelopment tax increment financing district. The parcels that have been used to establish eligibility as a redevelopment tax increment financing district are listed in Appendix C. F. Parcels in Acquisition 1 Properties identified for acquisition will be acquired by the City in order to accomplish one or more of the following: remove, prevent, or reduce blight, blighting factors, causes of blight, or the spread of blight and deterioration; to eliminate unhealthful, unsafe, and unsanitary structures and conditions; reduce traffic hazards; provide land for needed public streets, utilities, and facilities; remove incompatible land use, eliminate obsolete or detrimental uses; assemble land for redevelopment; carry out clearance and/or , redevelopment to accomplish the uses and objectives set forth in this plan. 2 There are three properties identified for acquisition by the City at the present time. (Refer to Appendix C). (AS MODIFIED JUNE 12, 1989) 2. There are four properties identified for acquisition by the City. (Refer to Appendix C) (AS MODIFIED MARCH 26, 1990) 1 Properties identified for acquisition will be acquired by the City in order to accomplish one or more of the following: remove, prevent, or reduce blight, blighting factors, causes of blight, or the spread of blight and deterioration; to eliminate unhealthful, unsafe, and unsanitary structures and conditions; reduce traffic hazards; provide land for needed public streets, utilities, and facilities; remove incompatible land use, eliminate obsolete or detrimental uses; assemble land for redevelopment; carry out clearance and/or ,