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92 <br /> the area in the District are occupied by buildings, streets, utilities or other improvements and (ii) more <br /> than 50% of the buildings (not including outbuildings) are structurally substandard to a degree requiring <br /> substantial renovation or clearance. The Amendment to the Financing Plan does not change such prior <br /> findings of the Council. <br /> 4. Based upon the reasons and supporting facts set forth in the Original <br /> Redevelopment Plan and Financing Plan, pursuant to Minnesota Statutes, Section 469.175, subdivision <br /> 3, this Council has hereby found that: <br /> (A) For reasons stated in Section 3 of this Resolution, the District is a <br /> Redevelopment District as defined in Minnesota Statutes, Section 469.174, subdivision <br /> 10. <br /> (B)The proposed redevelopment to be undertaken in accordance with the <br /> Original Redevelopment Plan in the opinion of this Council would not occur solely <br /> through private investment within the reasonably foreseeable future. <br /> (C) The Financing Plan conforms to the general plan for the development of the <br /> City as a whole. <br /> (D)The Financing Plan will afford maximum opportunity consistent with the. <br /> sound needs of the City as a whole for the development of the District by private <br /> enterprise. <br /> (E)The City elects the method of tax increment computation set forth in <br /> Minnesota Statutes, Section 469.174, subdivision 3,clause (a). <br /> The Amendment to the Financing Plan does not change such prior findings of this Council. <br /> Passed by the Council this 25'day of July, 2000. <br /> Mayor <br /> Attest: <br /> City Clerk <br /> City Manager <br /> • <br /> -2- <br />