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City of Mounds View TIF District No. 1 Modification 27 | P a g e sites and without the use of tax increments to assist with the financing of the public improvements, the developers would not have constructed these developments in the City; and 2. The tax increment financing plan will afford maximum opportunity, consistent with the sound needs of the City as a whole, for the development by private enterprise as it will enable the City to provide the necessary public improvements to service the Redevelopment sites; thereby encouraging redevelopment in the area. 3. The tax increment financing plan conforms to the general plan for the development of the city as a whole as it will result in the construction of a commercial/industrial development including an office/service facility, warehouse and restaurant, thereby encouraging other new commercial facilities and retention of business in the city. 1. The tax increment district to be established is a redevelopment district pursuant to Minnesota Statutes, Section 273.73, Subdivision 10 in which the conditions described in Part II, Section E, of this plan exist. (AS MODIFIED JUNE 12, 1989) Pursuant to Minnesota Statutes, Section 469.175, Subdivision 3, before or at the time of approval of the tax increment financing plan, the municipality shall make the following findings and shall set forth in writing the reasons and supporting facts for each determination: 1. The proposed development or redevelopment, in the opinion of the city, would not reasonably be expected to occur solely through private investment within the reasonably foreseeable future and, therefore, the use of tax increment financing is deemed necessary since the developers could not construct and operate the redevelopment project without the necessary public improvements to service the sites and without the use of tax increments to assist with the financing of the public improvements, the developers would not have constructed these developments in the City; and 2. The tax increment financing plan will afford maximum opportunity, consistent with the sound needs of the City as a whole, for the development by private enterprise as it will enable the City to provide the necessary public improvements to service the Redevelopment sites; thereby encouraging redevelopment in the area. 3. The tax increment financing plan conforms to the general plan for the development of the city as a whole as it will result in the construction of a commercial/industrial development including an office/service facility, warehouse and restaurant, thereby encouraging other new commercial facilities and retention of business in the city. 4. The tax increment district to be established is a redevelopment district pursuant to Minnesota Statutes, Section 469.174, Subdivision 10 in which the conditions described in Part II, Section E, of this plan exist.