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9 <br /> i <br /> and this Council on March 23, 1993, held a public hearing on the same after notice of <br /> the public hearing was published in the official newspaper of the City, not less than <br /> 10 days prior to the date of the hearing. All persons desiring to be heard were heard. <br /> 2. The 1993-1 Amendment, Financing Plan and establishment of the <br /> District are hereby approved. <br /> 3. This Council finds that the District is a redevelopment district <br /> within the scope of Minnesota Statutes, Section 469.174, subdivision 10, for the <br /> following reasons: (i) parcels consisting of 70% of the area in the District are <br /> occupied by buildings, streets, utilities or other improvements and (ii) more than <br /> 50% of the buildings (not including outbuildings) are structurally substandard to a <br /> degree requiring substantial renovation or clearance. In making this determination <br /> the City Council has reviewed and is relying on the report of The Runyan/Vogel <br /> Group, included in the 1993-1 Amendment and Financing Plan, and information <br /> otherwise available to the City. <br /> 4. Based upon the reasons and supporting facts set forth in the <br /> Redevelopment Plan and Financing Plan, pursuant to Minnesota Statutes, Section <br /> 469.028, it is hereby found that: - <br /> (A) The land located within the project area subject to the <br /> ® Redevelopment Plan would not be made available for redevelopment <br /> without financial aid sought; <br /> (B) The Redevelopment Plan for the area within the City included <br /> therein will afford maximum opportunity, consistent with the sound <br /> needs of the City as a whole, for the redevelopment of such areas by <br /> private enterprise; and <br /> (C) The Redevelopment Plan conforms to the general plan for the <br /> development of the City as a whole. <br /> 5. Based upon the reasons and supporting facts set forth in the <br /> Redevelopment Plan and Financing Plan, pursuant to Minnesota Statutes, Section <br /> 469.175, subdivision 3, it is hereby found that: <br /> (A) For the reasons stated in Section 3 of this Resolution, the <br /> District is a Redevelopment District as defined in Minnesota Statutes, <br /> Section 469.174, subdivision 10. <br /> (B) The proposed redevelopment to be undertaken in accordance <br /> with the Redevelopment Plan in the opinion of this Council would <br /> not occur solely through private investment within the reasonably <br /> • -2- <br />