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12-16-19-SR
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12-16-19-SR
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<br />City of Arden Hills <br />Tax Increment Financing District No. 5: TCAAP 15 <br /> <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 $73,186,922. <br /> <br />d. Even if some development other than the proposed development were to occur, the <br />Council finds that no alternative would occur that would produce a market value <br />increase greater than $499,285,048 (the amount in clause b less the amount in clause <br />c) without tax increment assistance. <br /> <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 /> <br />The City Council finds that the TIF Plan conforms to the general development plans for the <br />City. This City Council approved revisions to the Comprehensive Plan, TCAAP Regulating <br />Plan and TCAAP Redevelopment code on December 16, 2016, which the proposed TIF <br />Plan reflects. <br /> <br />4. Finding that the TIF Plan for Tax Increment Financing District No. 5: TCAAP will afford <br />maximum opportunity, consistent with the sound needs of the City as a whole, for the <br />development or redevelopment of Development District No. 1 by private enterprise. <br /> <br />The project to be assisted by the District will result in increased employment in the City and <br />the State of Minnesota, increased tax base of the State, add a high-quality development to <br />the City and will increase the availability of safe and decent life-cycle housing in the City. <br /> <br />
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