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P .-:' ,.j .,-/,- Juf~ 28 '95 02:0EH1 EHl.ER'3 3. FlSSOCIHTES The rea,ons and f",1S snpporting the findings for the adoption of the Tax Incrcmeot financing Pia. for Tal< Inereroont financing Distnct No. 1.4" required purs_tta Minn..ot. Slatutes, Section 469.175, Subdivision 3 are as follows: EXHIBiT A TO RESOLUTION NO. 3s - ~ L finding tl\l>t Tax Increment Financing District No. 1.4 is an economic deVelopment district as defined in Minnesota Statutes, Section 469.175. Subd. 12. District No. 1.4 consist' of 11 parcels of property, 155.2 acre' in size witll development plans for a manufacturing facility toWing 225,000 square feet. The manufacNring facilities are expected 10 increasc eOlployment in the state. 2. finding that the propo.ed development, in the opinion of the Council, would not occur solely through private inves_nt w itbi. tbe reasonably for.....ble future and, tllerefore, the use of tax increment rmancing is deemed necessary. - Due to the limitations which exist in the real estate lendiog market and variations in law. in difference .tates, any future comm=iailindustrW project; are fea.<ible only through substantial privare equitY and a public participation to atd in the equalizauon of development and operational costS across state boundaries. 3. finding that lbe Tax Increment Finan<:ing Plan confonns to tbe general plan for tlle development or redevelopment of the municipality as a whole. Tile site j, .ppropriately zoned. The Tax Increment Financing Plan fnr T..lncreroe" fi..ncing District No. 1-4 will generallY compliment and serve to implement policies adopted in the CitY's comprebensi'le plan. 4. Finding that Ille Ta:< Increment FinatlCing Plan for Tax Increment Financing District No. 1-4 will afford maximuro opportUnity, consistent witll tlle sound need. of tlle City as a whole. for tlle development of Development District No.1 by private enterprise. Tile commereiallindustria1 development to be asaisled by District No. 1-4 will result in inc....ed employment in tbe City and State of MilUlesota and add a high quality development 10 the City. N:\WPDA T A\CEl'.7ER Vl\11FI-4\ClTYCOUN.RfS