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Citiy as a wholle, for the development of Development District No. <br />0 <br />1 by private enterprise. The specific basis for such finding <br />0 <br />be, ing <br />It will enable the renovation, or clearance of structurally <br />substandard buildings and the, coin,struction of new projects <br />9 i <br />in the, City, thereby encouraging other development in the <br />areaQ1 <br />Section 41. Findillcts, for the Establishment of Tax Increment <br />Fignanicipgr Distrilct No. 121, <br />4,02,o 'The Council further finds 'that the proposed <br />development, in, the opinion of the Council, would not occur <br />solely throughpiriVate investmentwithin the reasonably <br />foreseeable future and,, tiherefore, the, use of tax increment <br />financing is deemed necessary. The specific basis for such <br />findiLng being <br />1111 15 <br />