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<br /> <br />{ <br /> <br />( -~- <br /> <br />. <br /> <br />Section 2. Findings. <br /> <br />2.01. The City Council. hereby declares and determines that there is a <br />need for new development in the Development District and TIF District to <br />provide employment opportunities, to improve the tax base and to enhance <br />the general economy of the City and state. · <br /> <br />2.02. The TIF District is declared to be an "Economic Development TIF <br />Distric't" within the meaning of Minnesota Statutes, Section 469.174, Subd. <br />12. <br /> <br />2.03. It is the opinion of the City Council that the proposed devel- <br />opment within the TIF District could not reasonably be expected to occur <br />within the re~sonably.foreseeable future and that the use of tax increment <br />financing for public improvements identified is therefore necessary and in <br />the public interest. <br /> <br />2.04. The C1ty Council finds that the TIF Plan conforms to the <br />general plans for development of the City based upon consultation with the <br />planning commission. <br /> <br />2.05. The City Council finds that the TIF Plan will afford maximum <br />opportunity, consistent with the sound needs of the City as a whole, for <br />development of the Development District by private enterprise. <br /> <br />Section 3. Establishment of the Development District and TIF Dis- <br />trict. <br /> <br />3.01. The Program is approved. Development District No. 1 is estab- <br />lished. <br /> <br />3.02. The TIF Plan is adopted. TIF District No. 1-1 is established. <br /> <br />3.03. The Clerk-Treasurer is hereby authorized and directed to <br />transmit a certified copy of this resolution together with a certified copy <br />of the TIF Plan to the auditor of Anoka County with a request that the <br />original assessed valuation of the property within the TIF District be <br />certified to the 'City pursuant to Section 469.177, Subd. 1 of the Act and <br />to file a copy of the TIF Plan with the Minnesota Commissioner or Trade and <br />Economic Development. <br /> <br />3.04. The City will at the appropriate time take action to issue and <br />sell its seneral obligation bonds pursuant to the TIF Plan to finance the <br />public costs identified in the Plan. <br /> <br />The motion for the adoption of the foregoing resolution was duly <br /> <br />seconded by Councilmember Ca ro 1 Fr; tell i e <br /> <br />, and upon vote being taken <br /> <br />thereon, the following voted in favor thereof: <br /> <br />L~ a 1 tE: r r~eumann <br /> <br />TOlil t.:i 1 ha rue r <br /> <br />Leon L't\llier <br /> <br />Carol Fritchie <br />