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<br />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 /> <br />Section 4. <br /> <br />Approval and Adoption of the Plan <br /> <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.ofthe City Administrator. <br /> <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 /> <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 /> <br />DATED: <br /> <br />September 24, 1997 <br /> <br />... <br /> <br /> <br />~~ <br />Mayor Wilharber <br /> <br /> <br />.. <br />