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under the Tar Increment Financing Flan, and the actual <br />amount expended for, at least, the following categories: <br />(a) acquisition of land and buildings through <br />condemnation or purchase; <br />(b) site improvements 'r preparation costs; <br />(d) installation of public utilities or other <br />public improvements; and <br />(d) administrative costs, including the allocated <br />cost of the City* <br />(5) For properties sold to developers, the total cost <br />of the property to the City and the price paid by <br />developers; . <br />(6) The amount of tax exempt obligations, other than <br />those reported under clause (3), that were issued on behalf <br />of private entities for facilities located in Tax Increment <br />Financing District No. 13. <br />y. Assumptions <br />It was necessary to mare certain assumptions regarding <br />income, costs and tuning of Tax Increment Financing District <br />No. 13. These assumptions are based on discussions with the <br />City, County, and the prospective developers. <br />Ze Municipal Findings <br />Pursuant to Minnesota Statut2sg pection 469.175, Subdivision <br />3, before or at the time of approval of the tax increment <br />financing plan, the mxinicipality shall make the following <br />findings and shall set forth in writing the reasons and <br />supporting facts for each determination* <br />1,19 The proposed development, in the opinion of the City, <br />would not reasonably be expected to occur solely <br />through private investment within the reasonably <br />foreseeable future and, therefore, the use of tax <br />increment financing is deemed necessary. Without the <br />City's assistance College Properties Inc. would not be <br />able to move forward with respect to acquisition, <br />demolition, and utility modifications to allow this <br />project to move f orward @ Furthermore, based on' the <br />expensive cost of the. land because it is currently <br />zoned for business use while the maj <br />