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()- <br />TAX INCREMENT FINANCING REDEVELOPMENT DISTRICT NO. 18 <br />SECTION 1.03 PLAN PREPARATION <br />This document was prepared for the City by Northland Securities, Inc. <br />- <br />ARTICLE II MODIFICATION TO DEVELOPMENT PROGRAM <br />SECTION 2.01 OVERVIEW <br />The City established the Development District and the related Development Program as a tool <br />Development Program describes the City’s objectives for the development of this area and the <br />The City has determined that it is necessary to further amend the Development Program to <br />establish the TIF District within the Development District. The Development District is not <br />program and all prior amendments hereto, which are incorporated herein by reference. <br />The City hereby establishes the Development District and the related Development Program as <br />a tool to achieve the objectives described in Section 2.02. The Development District serves as the <br />Development Program describes the City’s objectives for the development of this area and the <br />SECTION 2.02 STATEMENT OF OBJECTIVES <br />The establishment of the Development District pursuant to the Development District Act is in <br />the best interests of the City and its residents and is necessary to give the City the ability to meet <br />intervention by the City in the normal development process. <br />1. <br />development of the Development District and adjacent areas of the City. <br />2. Encourage the redevelopment of blighted and under-utilized areas of the City. <br />3. Facilitate the removal of deteriorated structures and encourage redevelopment in <br />commercial areas providing high levels of property maintenance and private investment. <br />4. Provide parking needed to support development and encourage use of shared parking to <br />promote additional private development. <br />5. Build, maintain improve, and reconstruct public improvements and utilities needed to <br />support development. <br />6. <br />Development District, which property is not now in productive use or in its highest and best <br />use, with a minimum adverse impact on the environment, and thereby promote and secure <br />the desirable development of other land in the City. <br />7. Promote and secure additional employment opportunities within the Development District <br />DRAFT AS OF JUNE 5, 2024 2 <br /> <br />