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2.3 The policies identified in Development District Igo. 1 is to protect and promote the welfare of the citizens of the City by employing all means necessary and appropriate such as: 1.) acquisition and rehabilitation of land and .) infrastructure and public improvements to promote redevelopment} economic development and creation of employment opportunities. In addition, through the econornic development plan the City seep to achieve the foliowm' g: Improve financial base of the City. Provide maximum opportunity for development by private enterprises. Increase employment. Encourage retention and expansion of existing businesses Rehabihtationor expand structures within Development District no. 1. Achieve high level of design and landscape quality. Create buffers, screens and transitions between residential and non - residential uses. Provide recreational opportunities. Acquire land and space which is vacant, unused, underused or inappropriately used. Acqu ire and remove property containing structurally substandard buildings where rehab is not feasible. Eli nme ate blighting Mf luences which impede potential private development. Provide adequate roads, sidewalks and other public improvements to enhance new development., 3.0 TIF Distinct no. 12 HISTORY 3.1 TIF District no. 12 was established in 1 S oper a financingplan dated 2/22/1990. (Attached as Exhibit # 1). The boundary of the district is the entire Arona site. 3.2 NCR owned the property and was planning on implementing a redevelopment of the site as a manufacturing facility which is why the TE" District was established. Shortly aftcr the district was established the market took a tun and NCR's business was reduced. When NCR decided that they needed to sell the property, the City purchased the site with the hopes of redeveloping the site for more productive use in the future. 3.3 From 19 91 — 2000 the property was used by the City as an a6tivity center and recreation offices. Therefore, the site has not generated any tax increment revenue since its inception in 1990. 3.4 The following is a summary of the Financing Plan which provides information regarding the use of tax increment generated from development within TEF District no. 12 Carona site); Development Program The Development Program for TIC` District, no. 12 states the followingthat NCR will be constructing its manufacturing facility in the rear area of its current facility. Demolition of the school fcility is rewired. The City will enter into a development agreement with NCK However, the development program also states that not all development uses could be reasonable identified at that time, therefore the development program also could include activities outlined in the Development District no. 1 plan (as sununari.zed in 2.3 above). RCA TIF District 912 (080403)- Page 2 of 5