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C. The City has performed all actions required by law to be performed prior to the establishment of Tax Increment Financing District No. 9 and the adoption of the proposed Tax Increment Financing Plan relating thereto and the adoption of the modified Development Program, including but not limited to, notification of Ramsey County and Independent School Districts Nos. 621 and 623 and Special Intermediate School District No. 916, a review by the City Planning Commission of the proposed Development Program for Development District No. 1 and the holding of a public hearing upon published and mailed notice as required by law. NOW THEREFORE, BE IT RESOLVED, by the City Council of the City of Roseville, as follows: 1. The Council hereby finds that the establishment of Tax Increment Financing District No. 9 is intended and, in the judgment of this Council, its effect will be, to provide an impetus for development in the City, to increase employment and otherwise promote certain public purposes and accomplish certain objectives as specified in the modified Development Program and the Tax Increment Financing Plan for Tax Increment Financing District No.9. 2. Pursuant to Minnesota Statutes, Section 273.74, Subdivision 3, before or at the time of approval of the Tax Increment Financing Plan for Tax Increment Financing District No.9, the municipality shall make the following findings and shall set forth in writing the reasons and supporting facts for each determination: a. The proposed development or redevelopment, in the opinion of the City, would not reasonably be expected to occur solely through private investment within the reasonably foreseeable furture, and therefore, the use of tax increment financing is deemed necessary. Fine Associates, Bonestroo, Rosene, Anderlik & Associates and Northwestern Mutual Life have represented to the City that they would not undertake these projects without the City's use of tax increment financing. In addition, the use of tax increments from Tax Increment Financing District No. 9 to pay the debt service on the City's outstanding tax increment bonds, if necessary, will protect the tax base of the City by minimizing the likelihood that the City will have to levy taxes to pay debt service on the bonds.