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2.3 The policies identified in Development District No. 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 economic development plan the City seeks to achieve the following: Improve financial base of the City. Provide maximum opportunity for development by private enterprises. Increase employment. Encourage retention and expansion of existing businesses. Rehabilitation or 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 vaunt, unused, underused or inappropriately used. Acquire and remove property containing structarally substandard buildings where rehab is not feasible. Eliminate blighting influences which impede potential private development. Provide adequate roads, sidewalks and other public improvements to enhance new development, klrf�-d - VW VMMU IT, V IPA 1163 Col. 3.1 TIF District no. 12 was established'in 1990 per a fmancingplan dated 2/22/1990. (Attached as Exhibit ## 1). The boundary of the district is the entire Aroma 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 TIF District was established. Shortly after the district was established the market took a b nn 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 1991 — 2000 the property was used by the City as an activity center and recreation offices. Wherefore, the site has not generated any tax increment revenue since its inception in 1 990. 3.4 The following is a surnmary of the Financing Flan which provides information regarding the use of tax increment generated from development within 7` ' District no. 12 Carona situ. Development Program The Development Program for TIF District no. 1 states the following that NCR will be constructing its manufacturing facility in the rear area of its current facility. Demolition of the school facility is rewired. The City will enter into a development agreement with NCR. However, the development program also states that not all development uses could be reasonable identified at that tune, therefore the development program also could include activities outlined in the Development District no. 1 plan (as summarized in 2.3 above). RCA TIF District #1 (080403)- Page 2 of 5