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value on the site that could reasonably be expected to occur without the use of tax increment <br /> financing would be less than the increase in the market values estimated to result from the <br /> proposed development after subtracting the present values of the projected tax increments for the <br /> maximum duration of District No. 1 -3 permitted by the Plan, that the Plan conforms to the <br /> general plan for the development of the City as a whole; and that the Plan will afford maximum <br /> opportunity consistent with the sound needs of the City as a whole, for the development of <br /> District No. 1 -3 by private enterprise. <br /> Section 4. Approval and Adoption of the Plan <br /> 4.01, The Plan, as presented to the Council on this date, including without limitation the <br /> findings and statements of objectives contained therein, are hereby approved, ratified, established, <br /> and adopted and shall be placed on file in the office of the City Administrator. <br /> 4.02. The staff of the City, the City's advisors and legal counsel are authorized and <br /> directed to proceed with the implementation of the Plan and to negotiate, draft, prepare and <br /> present to this Council for its consideration all further plans, resolutions, documents and contracts <br /> necessary for this purpose. <br /> 4.03. The staff of the City is authorized to file the Plan with the State Department of <br /> Revenue and the Anoka County Auditor. <br /> DATED: September 24, 1997 <br /> ATTEST: <br /> Mayor Wilharber City Administrator <br />