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4i.,04i., The Council further finds that the Tax Increment <br />Financing Plan f or Tax Increment Financing District No. 12 will <br />af f orld Lm opportunity cons istent w 16th the sound needs of the <br />City as a wholle,, for the development, of Development District No. <br />1 by pr ivate, enterprise 'The specif ic basis for such f inding <br />being <br />It will enable the renovation or clearance of structurally <br />substandard bu ildings and the construction of new projects <br />in the City, thereby encouraging other development in the <br />area . <br />1115 <br />