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PART 4 — FINDINGS <br />A. Coverage Test <br />L The total square foot area o� each parcel in the proposed TIF District was obtained <br />firorn City records, GIS mapping and site veri�catio�. <br />2. Th.e total square foot ar�a of buildings and site improvements on the parce�s in the <br />proposed TIF District was obtained fro�n City records, GIS mapping and site <br />verification. <br />3. The percentage of coverage for each parcel in t�e prapased TIF District was <br />computed to determine ii the 15 percent minimUm requirement was met. T�e total <br />square footage of parcels meeting the 1 S percent requirernent was divided into the <br />#otal square %otage of the entire district to determine if the 70 percent requirement <br />was met. <br />Fi�ding: <br />The proposed TIF' District nnet the coverage test under Mrnnesota Statutes, Section <br />469.174, Subdivisian 10(e), which resulted in parcels consisting of 100 percent of the <br />area of the pra�aosed TIF Dis�rict being occupied by buildings, streets, utilities or <br />paved drives or parking Iots {Diagram 2). This exceeds the 70 percent area co�erage <br />requirement for tk�e proposed TIF District under Minnesota Statutes, Section 469.I74, <br />Suhdivision IOa {a} (1). <br />Aiagram 2 <br />Shaded area denotes parcels more than 15 percent occupied by <br />huildings, streets, utilities or paved drives or parking lots <br />Page 7 <br />