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Therefare, the City concludes as follows: 4. a. The City's estimate of the amoun� by which the market value of the entire District will increase without the �se of tax increinent financing is an amount iess than the amount described in clause d below. b. Ifthe proposed development occurs, the total increase in market value will be $i2,623,600 (see Appendices D and G oithe TI� Plan) c. 'I'he present value of t� increments from the District for the maximum duration of the District permitted 6y the TIF Plan is estimated ta be $2,650,975 (see Appendices D and G of the TIF Plan}. d. Even if some development other than the praposed de�elopment were to occur, tne Council finds that no alternative wauld occur ihat would produce a market value increase greater #han $4,972,625 {the amount in clause b less the arnount in clause c) without tax increment assistance. Current Market Value New Market Value - Estimate Difference Present Value of Tax Increment Difference Value Likel_y to Occur Without TIF is Less Than: 3 8,238,800 50,862,400 12,623,600 2,650,975 9,972,625 9,972,625 Finding that the TIF Plan for the District conforms to the general plan for the development or redevelopment of the municrpality as a whole. The Planning Commission reviewed the TIF Plan and found that the TIF Plan conforms to the generaI development plan of the City. Finding that the TIFPlan for the District will afford maximum oppartunity, consistent with the sound needs of the Ciry as a whole, for the development or redevelopment of Development Distj-ict Na. 1 hy private enterprise. The project to be assisted by the District will result in the redevelopment of substandard properties, increase the availability of safe and decent life-cycle housing in the Ci�y, increase the tax base of the State and add a high quality development to the City. Appendix G_2