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• and HRA in approving the Redevelopment Plans, the Redevelopment Projects and <br /> the Financing Plans, by developing property in the City and by providing needed <br /> facilities which will be of benefit to all residents of the City, including those residing <br /> in the area subject to the Redevelopment Plans, prior to the inclusion of the <br /> additional property by the Master Modification. <br /> 4. Pursuant to Minnesota Statutes, Section 469.175, subdivision 4, it is <br /> hereby found that: <br /> (A) Kenzie Terrace Tax Increment District, is a <br /> redevelopment district, as defined in Minnesota Statutes, <br /> Section 469.174, subdivision 10, and Chandler Place Tax <br /> Increment District is a housing district, as defined in <br /> Minnesota Statutes, Section 469.174, subdivision 11, for <br /> the reasons set forth in previous findings by this Council, <br /> and the Master Modification does not alter these previous <br /> findings. <br /> (B) The proposed development to be undertaken in <br /> accordance with the Redevelopment Plans, as amended by <br /> the Master Modification, in the opinion of this Council <br /> would not occur solely through private investment <br /> • within the reasonably foreseeable future and therefor the <br /> use of tax increment financing is deemed necessary. <br /> (C) The Financing Plans, as amended by the Master <br /> Modification, conforms to the general plan for the <br /> development of the City as a whole. <br /> (D) The Financing Plans, as amended by the Master <br /> Modification, will afford maximum opportunity <br /> consistent with the sound needs of'the City as a whole for <br /> the development of the area subject to Redevelopment <br /> Plans by private enterprise. <br /> (E) The City confirms its election of the method of <br /> tax increment computation set forth in Minnesota <br /> Statutes, Section 469.177, subdivision 3, clause (a) with <br /> respect to each of the Districts. <br /> • <br /> -2- <br />