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<br />permitted by the Tax Increment Financing Plan. The specific basis for such <br />finding being: <br /> <br />Without the City's assistance with the assemblage of developable but <br />substandard or improperly zoned parcels in order to make sites suitable for <br />future commercial/industrial development, the developers could not feasibly <br />construct their developments and without the use of tax increments to <br />assist with the financing of public improvements, the sites would not be <br />available for future commercial/industrial development. The area consists <br />primarily of aging commercial and industrial with, in many instances, <br />hazardous underground tank leakage problems. A comprehensive <br />development therefore cannot occur in this area without public <br />intervention. <br /> <br />A comparative analysis of estimated market values both with and without <br />establishment of Tax Increment Financing District No. 15 and the use of tax <br />increments has been performed as described above. Such analysis is on <br />file in the office of the City Manager, and indicates that the increase in <br />estimated market value of the proposed development (less the <br />indicated subtractions) exceeds the estimated market value of the site <br />absent the establishment of Tax Increment Financing District No. 15 <br />and the use of tax increments. <br /> <br />3.03. The Council further finds that the Tax Increment Financing Plan for <br />Tax Increment Financing District No. 15 conforms to the general plan for the <br />development or redevelopment of the City as a whole. The specific basis for <br />such finding being: <br /> <br />Tax Increment Financing District No. 15 will result in the availability of <br />needed land for commercial/industrial development and such development <br />is compatible with the City's zoning ordinances and other related <br />regulations and encourages the provision and development of commercial <br />and industrial land as set forth in the City's Land Use/Comprehensive <br />Plans. <br /> <br />3.04. The Council further finds that the Tax Increment Financing Plan for <br />Tax Increment Financing District No. 15 will afford maximum opportunity <br />consistent with the sound needs of the City as a whole, for the development of <br />Development District NO.1 by private enterprise. The specific basis for such <br />finding being: <br /> <br />3 <br />