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F. Parcels In Acquisition the City in <br />1. Properties identified for acquisition may be acquirere by the <br />prevent, <br />order to accomplish one or more of the following the spread read of <br />or reduce blight, blighting factors, causes of blight, orand <br />blight and deterioration; to eliminate unhealthful, unsaferovide <br />unsanitary structures and conditions; reduce traffic hazards; p <br />land for needed public streets, utilities, and facilities; remove <br />incompatible land use, correct soil problems,development; ocarrybsoleteoor <br />detrimental uses; assemble land <br />for clearance and/or redevelopment to accomplish the uses and <br />objectives set forth in this plan.. <br />2. Properties so identified include the following parcels: <br />State of Minnesota <br />Excess Taking <br />Doc.1632844-5 <br />3. Conditional Acquisition <br />Parcels may, be acquired by the City should they become necessary <br />for future redevelopment with the condition that there is sufficient <br />acquiarcels <br />tax increment to finance <br />the <br />"F"costs <br />torassociated <br />these parcels. See Appendixconditional acquisitton p.ol <br />G. Estimate of Costs <br />The public costs associated with this project are outlined In Appendix "D", <br />Project Costs, it is expected that the public costs will be financed by the <br />City. <br />H. Estimated Amount of indebtedness <br />See Appendix I'D" of this Plan. <br />Sources of Revenue <br />The principle source of revenue to be used to finance public costs associated <br />with the projects in the redevelopment project is tax increment financing. <br />Tax increment financing refers to a funding technique that utilizes increases <br />in assessed valuation and the property taxes attributed to new development <br />to finance, or assist in the financing of public devity elopment <br />timecosts- timAppendix 'IS" for Revenue e. <br />lonsThe <br />utilize other revenue sources to finance public costs. y <br />J. Original Assessed Value <br />Pursuant to Minnesota Statutes, Section 469.175, Subdivision 1 and Section <br />469.177, Subdivision 1, the Original Assessed Value (OAV) for the City of <br />edeMounds View tax increment financing b rthe vCiou tynAssdistrict 31 <br />Assessor In1987ASeTh s <br />the value placed on the property <br />roP y y <br />assessed value is $1,6,240. Each year the Office of the County Auditor will <br />