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N 4. Findings Under the Act. Pursuant to Minnesota Statutes, Section <br /> 469.175, subdivision 4, it is hereby found that: <br /> (A) The District is a soils condition district as defined <br /> in the Act for the reasons set forth in previous findings by <br /> this Council, and the Amendment does not alter these <br /> previous findings. <br /> (B) The proposed development or redevelopment in <br /> the area subject to the Redevelopment Plan, in the <br /> opinion of the City, would not reasonably be expected to <br /> occur solely through private investment in the reasonably <br /> foreseeable future and therefore the use of tax increment <br /> financing is deemed necessary. <br /> (C) The Financing Plan, as amended by the <br /> Amendment, conforms to the general plan for the <br /> development of the City as a whole. <br /> (D) The Financing Plan, as amended by the <br /> Amendment, 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 the <br /> Redevelopment Plan by private enterprise. <br /> (E) The City confirms its election of the mehtod of tax <br /> increment computation set forth in Minnesota Statutes, Section <br /> 469.177, subdivision 3, clause (a) with respect to the District. <br /> Passed by the Council this 27th day of June, 1995. <br /> Mayor <br /> Attest: <br /> City Clerk <br /> Reviewed for Administration: <br /> City Manager <br /> -2- <br />