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P.3/4 JUI'1 28 ' '35 (1;~: 2SHl EHLEPS 8. A'3SOC IATES 2.02. The Council hereb> finds thai the modification of the Development Program for Development District N(l.1. and the est~bHshrntflt of Tax Increment Financing District No. 1-4 and the approval of the Ta.v. lncremellt Fit\andng Plan rtl:i.ting thereto, are intended and, in the judgem~nt of this Council, the effect of such actions will be, to provide an impetus for commercial and industrial development in the public purposes and accomplish certain objectj...es as spt:cified in the Plan 2.03. The Council funhe.r finds that the proposed development, in the opinion of the Council, would not occur solely through private investm~nt within thl;; r~ason:.tbly foreseeable future and, therefore, the use of tax. increment fin:,lm.:ing is deemed net:essary; that the Plan cN\forrns to the general plan for the development IX r~d~...cloprncnt of the City as a whole; Hlid that the plan will affmd maximum opportUnity consistent with the sound ne~ds of th~ City as a whole, for L'le development of Tax Increment Financing District No. t.4 by private enterprise. 2.04. The Council furth~r finds. tJ.eclar~s and determines that tbt City l'nade the above findings stated in S~ction 2 and h:as set forth the reasons and supporting facts for each determination in writing, attached hereto a Exhibit A. Section 3. Aw.Iova1 of the Plans. 3.01. The modifications to the Development Program for Development District No.1 and the Tax Increment Financing PlAn for Tax Increment Finandng District No. 1-4 are hereby approved and adopted, and shall be placed on file in the office of the City Clerk-Administrator. 3.02. Th~ Ciry staff of the City, the City's advisors and legal counsel are authorized and directed to proceed with the implementation of the Plans and for this purposed to negotiate, draft. prepare and present to this Council for its consid~ration all fut'.her plans, resolutiom, documents and contracts necessary for this purpose. () 1'~ the adoption of the foregoi"~ resol.tion w.,d .ulY seconded by Councilmember I~'" _' d upon a vote being t.1ken thereon, the following voted in favor thereof: and the following voted against .he same: Dated: June 28, 1995 C-/~~v~ Mayor (Seal) N\\.\'PDA T A\CENTER VI\'r!Fl-4\CJTYCOUN.RES