Laserfiche WebLink
RESOLUTION NO, 2491 <br />PAGE TWO OF TWO <br />BE IT FURTHER RESOLVED that the City Council of the City of <br />Mounds View hereby finds that in certain portions of the Modified <br />Tax Increment Financing District No. 1, at least 70 percent of <br />the parcels in the district are occupied by buildings, streets, <br />utilities, or other improvements and 20 percent of the buildings <br />are structurally substandard and an -additional 30 percent of the <br />bu-idings are found to require substantial renovation or <br />clearance in order to remove such existing conditions as: <br />inadequate street layout, incompatible uses or land use <br />relationships, overcrowding of buildingson the land, excessive <br />dwelling unit density, obsolete buildings not suitable for <br />improvement or conversion, or other identified hazards to the <br />health, safety and general well being of the community. <br />BE IT FURTHER RESOLVED that the City Council of the City of <br />Founds View finds that the proposed development, in the opinion <br />of the Council, would not occur solely through private invest- <br />ment within the reasonably foreseeable future and, therefore; the <br />use of tax increment financing is deemed necessary; that the <br />Modified Tax Increment Financing Plan conforms to the general <br />plan for the development or redevelopment of the City as a whole; <br />and that the Tax Increment Financing Plan will afford maximum <br />opportunity consistent with the sound needs of the City as a <br />whole, for the development of Tax Increment Financing District <br />No. 1 by private enterprise. <br />BE IT FURTHER RESOLVED that the modification of Tax Increment <br />Financing District No. 1 and the approval and adoption of the Tax <br />Increment Financing Plan thereto is intended and, in the <br />judgement of this Council, its effect will be, to promote the <br />public purposes and accomplish the objectives specified in the <br />Tax Increment Financing Plan. <br />Ba IT FINALLY RESOLEVED the Modified Development Program <br />for Development District No. 2, and Tax Increment Financing Plan <br />for Tax Increment Financing District No. 1 are hereby approved <br />and adopted and shall be placed on file in the office of the <br />Clerk -Administrator. <br />Adopted this day of , 1989. <br />ATTEST: <br />Mayor <br />(SEAL) <br />Clerk -Administrator <br />