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<br />1.04. Due to changes in the nature and extent of public improvements to be constructed <br />within the Development District, there is a need to modify the Program and the TIF Plans. <br /> <br />1.05. To formalize these modifications, the City has authorized preparation of the <br />modified Program and TIF Plans which are contained in a document entitled "Modification of <br />Development District Program, Development District 1 and Modification of Tax Increment <br />Financing Plans, Tax Increment Financing Districts 1 through 14 and 16", dated December 16, <br />1996 and on file with the city manager. <br /> <br />1.06. In accordance with Minnesota Statutes, sections 469.124 through 469.134 (the "City <br />Development Districts Act"), the modified Program and TIP Plans were referred to the Roseville <br />planning commission which on December 11, 1996, found that they conform to and are not in <br />conflict with the general plan for development of the community as a whole. <br /> <br />1.07. Notice of the public hearing to be held by the City on December 16, 1996, has been <br />sent to Independent School District No. 623, Independent School District No. 621 and Ramsey <br />County as required by Minnesota Statutes, sections 469.174 through 469.179 (the "TIF Act"). <br /> <br />1.08. The City has fully reviewed the contents of the modified Program and TIP Plans <br />and has this date conducted a public hearing thereon at which the views of all interested persons <br />were heard. <br /> <br />Section 2. Pindings: Development District. <br /> <br />2.01. It is the continuing finding and determination of the City that within the boundaries <br />of the Development District there exist conditions of economic obsolescence, physical <br />deterioration, underutilization and inappropriate uses of land. These conditions hinder the City's <br />ability to ensure that its commercial, industrial and residential neighborhoods remain vital and <br />contribute to the tax base of the City. <br /> <br />2.02. It is further specifically found and determined that: <br /> <br />a. land in the Development District would not be the subject of sufficient <br />private investment without the financial assistance for public improvements <br />described in the modified Program and TIP Plans; <br /> <br />b. the modified Program and TIF Plans will afford maximum opportunity, <br />consistent with the sound needs of the City as a whole, for the <br />redevelopment of the Development District by private enterprise; and <br /> <br />c. based on the findings of the planning commission, the modified Program <br />and TIP Plans conform to the general development plan of the City as set <br />forth in the Roseville comprehensive plan. <br /> <br />Section 3. Pindings: Tax Increment Financing Districts. <br /> <br />RHBl147S3 <br />RS200-lS <br /> <br />2 <br />