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• 5 . Based upon the reasons and supporting facts <br /> set forth in the Redevelopment Plan and Financing Plan, pursuant <br /> to Minnesota Statutes, Section 469 . 175 , subdivision 3 , it <br /> is hereby found that: <br /> (A) For the reasons stated in Section <br /> 3 of this Resolution, the District is <br /> a Soils Condition District as defined <br /> in Minnesota Statutes, Section 469 . 174 , <br /> subdivision 19 . <br /> (B) The proposed development to <br /> be undertaken in accordance with the <br /> Redevelopment Plan in the opinion of <br /> this Council would not occur solely through <br /> private investment within the reasonably <br /> foreseeable future and therefor the use <br /> of tax increment financing is deemed <br /> necessary. <br /> (C) The .Financing Plan conforms <br /> to the general plan for the development <br /> of the City as a whole . <br /> • (D) The Financing Plan will afford <br /> maximum opportunity consistent with the <br /> sound needs of the City as a whole for <br /> the development of the District by private <br /> enterprise. <br /> (E) The City elects the method <br /> of tax increment computation set forth <br /> in Minnesota Statutes, Section 273 .76 , <br /> subdivision 3 , clause ( a) . <br /> Passed by the Council this day of <br /> 1989 . SPr� <br /> Attest : <br /> ity C1 -rk <br /> • �i,i', !;� City M <br /> anag er <br /> -3- <br />