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^� RESOLUTION 2463 <br />PAGE THREE <br />(c) that the development proposed to be assisted <br />as described in the Financing Plan would not, <br />in the opinion, of the City, reasonably be <br />expected to occur within the reasonably <br />foreseeable future through private investment, <br />and that therefore the use of tax increment <br />financing for soil correction is deemed <br />necessary; <br />(d) that the Development Program and Financing <br />Plan conform to the general plan for the <br />development of the City as a whole; <br />(e) that the Financing Plan will afford maximum <br />opportunity, consistent with the sound needs <br />of the City as a whole for the development of <br />the Development District by private <br />enterprise. <br />2. The Financing Plan which establishes the Tax <br />Increment District are hereby approved and adopted <br />✓ by the City is substantially the form on file with <br />the City on this date. <br />3. The City Clerk -Administrator is authorized and <br />directed to take all action on behalf of the City, <br />subject to such approval of this Council as is <br />required by law, to implement Modification No. 1 of <br />Tax Increment District #3 and Financing Plan. <br />4. The City Clerk -Administrator is hereby authorized <br />and directed to file a copy of the modified <br />Finanrina Plan for Tax Increment District 93 with <br />the Minnesota Commissioner of Trade and Economic <br />Development. <br />5. Following approval of the Financing Plan by the <br />City, the Clerk -Administrator, together with the <br />City's financial advisor, legal counsel and bond <br />counsel, is authorized and directed to proceed with <br />i <br />the implementation or the muuiiiau F-•nancin •; Plan, <br />and for the purpose to negotiate, draft:, prepare <br />