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<br />C. The City has performed all actions required by <br />law to be performed prior to the establishment of Tax Increment <br />Financing Districts Nos. 6, 7 and 8, and the adoption of <br />the proposed Tax Increment Financing PaIn relating thereto <br />and the adoption of the modified Development Program, including, <br />but not limited to, notification of Ramsey County and Independent <br />School Districts No. 621 and 623 and Special Intermediate <br />School District No. 916, a review by the City Planning Commission <br />of the proposed Development Program for Development District <br />No. 1 and the holding of a public hearing upon published <br />and mailed notice as required by law. <br /> <br />NOW THEREFORE, BE IT RESOLVED, by the City Council of <br />the City of Roseville, as follows: <br /> <br />1. The Council hereby finds that the establishment <br />of Tax Increment Financing Districts Nos. 6, 7 and 8 are <br />intended and, in the judgment of this Council, its effect <br />will be, to provide an impetus for development in the City, <br />to increase employment and otherwise promote certain public <br />purposes and accomplish certain objectives as specified in <br />the modified Development Program and the Tax Increment Financing <br />Plans for Tax Increment Financing Districts Nos. 6, 7 and <br />8 . <br /> <br />2. Pursuant to Minnesota Statutes, Section 273.74, <br />Subdivision 3, before or at the time of approval of the Tax <br />Increment Financing Plan for Tax Increment District No.6, <br />the municipality shall make the following findings and shall <br />set forth in writing the reasons and supporting facts for <br />each determination: <br /> <br />a. The proposed development or redevelopment, <br />ln the opinion of the City, would not reasonably <br />be expected to occur solely through private investment <br />within the reasonably foreseeable future and, therefore, <br />the use of tax increment financing is deemed necessary. <br />Brutger Companies, Inc. has represented to the <br />City that it would not undertake the housing project <br />without the City's use of tax increment financing. <br />In addition, the use of tax increments from Tax <br />Increment District No. 6 to pay the debt service <br />on the City's outstanding tax increment bonds, <br />if necessary, will protect the tax base of the <br />City by minimizing the likelihood that the City <br />will have to levy taxes to pay debt service on <br />the bonds. <br /> <br />-2- <br />