Agenda Packets - 1988/02/22 - Laserfiche WebLink

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�1 6. The amount of tax exempt obligations, other than those reported `` under clause (3), that were issued on behalf of private entities for facilities located in the district. Y. Assumptions It was necessary to make certain assumptions regarding income, costs and timing of the tax increment redevelopment district. These assumption are based on discussions with city officials and developers. Z. Municipal Findings 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 the reasons and a supporting information for the determination (see Appendix B): yffi, 1. The proposed development, in the opinion of the City, would not reasonably be expected to occur solely through private investment within the reasonably fo-eseeable future and, therefore, the use of tax increment financing is deemed necessary since the developers could not construct the improvements without the use of tax increments to assist with the financing of soil correction; 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 a suitable site, via soil correction for development; thereby encouraging development in the area. 3. The tax increment financing plan conforms to the general plan for the development of the city as a whole. 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 Section E of this plan exist. ZZ. Fiscal Disparities Treatment The City will elect the method of tax increment computation pursuant to Minnesota Statutes, Section 469.177, Subdivision 3, clause (a), consequently, the district shall be create pith the election to spread the N' !Ld disparities contribution outside thr nerement district. 13