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125 <br /> • private investment within the reasonably foreseeable future and that the increased <br /> market value of the property included in the District that could reasonably be expected <br /> to occur without the use of tax increment financing would be less than the increase in <br /> market value estimated to result form the proposed redevelopment after subtracting the <br /> present value of the projected tax increments for the maximum duration of the District <br /> permitted by the Financing Plan. <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 /> Passed by the Council this 25°i day of July, 2000. <br /> Mayor <br /> Attest: <br /> City Clerk <br /> City Manager <br /> The motion for the adoption of the foregoing resolution was duly seconded by Member <br /> , and upon vote being taken thereon, the following voted in favor thereof: <br /> and the following voted against the same: <br /> whereupon said resolution was declared duly passed and adopted, and was signed by the Mayor, <br /> whose signature was attested by the City Clerk. <br /> • <br /> -3- <br />