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2.3 The policies identified in Development District No. I 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 seeps to achieve the following: Improve financial base of the City. Provide maximum opportunity for development by private enterprises. o 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 vacant, unused, underused or inappropriately used. Acquire and remove property containing structurally substandard buildings where rehab is not feasible. Ell mate blighting influences which impede potential private development. Provide adequate rods, sideways and other public improvements to enhance fiew development. 3,0 TIF Distinct no. 12 HISTORY 3.1 TIF District not 12 was established in 1990 per a financing plan dated 2122/1990. (Attached as Exhibit 91). 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 TIF District was established. Shortly after the district was established the market took a turn 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. Therefore, the site has not generated any tax increment revenue since its inception in 1990. 3A The following is a summary of the Financing Flan which provides information regarding the use of tax increment generated from development within TIF District no. 12 Carona site). Development Program The Development Program for TIF District no. 12 states the following that NCR will be constructing its m anu fac ng facility in the rear area of its current facility. Demolition of the school facility is required. 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. I plan (as summarized in 2.3 above). RCA TIF District #12 (080403) - Page 2 of 5