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\: <br /> F <br /> L <br /> -2- <br /> WHEREAS, the tax increment financing plan will afford maximum opportunity consistent <br /> with the sound needs of the municipality as a whole for the development of the <br /> district by private enterprise; and <br /> WHEREAS, the tax increment financing plan, conforms to the general plan for the <br /> development of the Chandler Place �Redevelopment Area and municipality as a whole; and <br /> WHEREAS, the City Council of the City' of St:. Anthony, ,Minnesota, finds that the <br /> proposed tax increment financing district is a housing district; <br /> NOW, THEREFORE, BE IT RESOLVED by the City. Council of the City of St. Anthony, <br /> does hereby designate and establish Housing District Number 3 and a tax increment <br /> district, adopts a Finance Plan and Development Program for said tax increment <br /> housing district and finds: <br /> 1 . That the project comprising the proposed tax increment financing district is <br /> _a housing project intended for the purpose of providing occupancy, in part, <br /> by persons or families of low or -'moderate income as defined in Chapter .462A, <br /> Title II of the National Housing Act of 1934, the National Housing Act of <br /> 1959,. and the United States Housing Act of 1937, as amended, Title V of the <br /> Housing Act-.of 1949, as amended, any other similar present or future Federal , <br /> State, -or Municipal legislation, or the regulations promulgated under any of <br /> these acts. <br /> 2. That the proposed development, in the opinion of the City of St. Anthony City <br /> Council would not occur solely through private investment within the reasonable <br /> foreseeable future, and, therefore, the use of tax increment financing is deemed <br /> • necessary. <br /> 3. That the tax increment financing plan conforms to the general plan for the <br /> development of the municipality as a whole. <br /> 4. That the tax increment financing plan will afford maximum opportunity consistent <br /> with the sound needs of the City of St. Anthony as a whole for the development <br /> .of the district by private enterprise. <br /> 5. That the City of St. Anthony elects the method of tax increment computation <br /> set forth in Section 6, Subdivision 3, Clause B. <br /> AND, FURTHERMORE, that the City Council approves the tax increment financing plan. <br /> Adopted this day of 985. <br /> ° /J0 <br /> Mayor <br /> ATTEST: <br /> City Clerk <br /> Reviewed for admi ni strati on: <br /> • ��' ' City Manager <br /> � �� : ISI •- t'1 <br />