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(a) The City's estimate of the amount by which the market value of the entire District will <br />increase without the use of tax increment financing is $0. <br />(b) If the proposed development occurs, the total increase in market value will be $80,666,000. <br />(c) The present value of tax increments from the District for the maximum duration of the <br />district permitted by the TIF Plan is estimated to be $28,242,769. <br />(d) Even if some development other than the proposed development were to occur, the Council <br />finds that no alternative would occur that would produce a market value increase greater <br />than $52,423,231 (the amount in clause b less the amount in clause b without tax increment <br />assistance. <br />3. Finding that the TIF Plan for the District conforms to the general plan for the development or <br />redevelopment of the municipality as a whole. <br />The City Council reviewed the TIF Plan and found that the TIF Plan conforms to the general <br />development plan of the City. <br />4. Finding that the Tax Increment Financing Plan for the District will afford maximum opportunity, <br />consistent with the sound needs of the City as a whole, for the development of Redevelopment Project <br />Area No. 3 by private enterprise. <br />The project to be assisted by the District will result in increased employment in the City and the <br />State of Minnesota, the redevelopment of substandard properties, increased tax base of the <br />State, add a high-quality development to the City and increase the availability of safe and decent <br />life -cycle housing in the City. <br />4831-3967-3825\I <br />