Laserfiche WebLink
<br />a hazardous substance site, it will be developed with the adjacent parcels within the <br />Subdistrict as allowed by Minnesota Statutes, Section 469.175, Subdivision 7. <br /> <br />4. Finding that the Subdistrict is not larger than, and the period of time during <br />which tax increments are elected to be received is not longer than, that which is <br />necessary, in the opinion of the Council, to provide for the additional costs due to <br />the designated hazardous substance site. <br /> <br />The Council has determined that the parcels located within the Subdistrict require <br />remediation and removal actions in order for the redevelopment of the District to proceed <br />as proposed. The Council has also determined that the duration of the Subdistrict will <br />extend only as long as is required to finance the remediation, removal and related <br />activities. <br /> <br />5. Finding that the expenditure of tax increment serves a primarily public <br />purpose. <br /> <br />The expenditure of tax increment is not intended as a private benefit, and any such <br />benefit is incidental. The principal intent for the tax increment expenditures includes the <br />removal and remediation actions needed, and associated costs, for the parcels included <br />in the Subdistrict. See also Exhibit B, Item 4. <br /> <br />10 <br />