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EXHIBIT C - SPECIFIC FINDINGS FOR SUBDISTRICT In addition to the findings included in Exhibit A, the reasons and facts supporting the additional findings for the Subdistrict Plan for the Subdistrict pursuant to Minnesota Statutes, Section 469.175, Subdivisions 3 and 7, are as follows: 1. Finding that the Subdistrict is a "hazardous substance subdistrict" as defined in Minnesota Statutes. The Subdistrict consists of 21 parcels which the Council reasonably expects will be designated as a hazardous substance site as defined in Minnesota Statutes, Section 469.174, Subdivision 16 and will be included in a Development Action Response Plan. The Council will certify to the County Auditor that it will enter into an agreement(s) providing for the removal or remedial actions as specified in its Development Action Response Plan. The Council acknowledges that the parcels to be included in the Subdistrict will not be certified until the Development Action Response Plan has been approved. 2. Finding that the proposed development within the Subdistrict, in the opinion of the Council, would not occur solely through private investment within the reasonably foreseeable future and, therefore, the use of tax increment financing is deemed necessary. The activities expected to occur within the Subdistrict include the removal and/or remedial actions necessary to be undertaken and completed in order to facilitate the construction of the housing units, office space, retail and restaurant space as described in Item 2 of Exhibit B. City staff has reviewed the estimated costs of the necessary removal and/or remedial actions and the available methods of financing these activities. Although some of the tax increment generated from the District will assist with the remediation and removal efforts, additional assistance is required for these extensive costs. Without the additional tax increment generated by the Subdistrict, the redevelopment of the District is economically unfeasible and cannot proceed. Additional background and analysis supporting this Finding are included in Exhibit F of the Subdistrict Plan and in correspondence from American Engineering Testing, Inc. to Rottlund Homes dated February 16, 2005 attached as Exhibit E. 3. Finding that other parcels not designated as hazardous substance sites are expected to be developed together with the designated hazardous substance site. All parcels are to be included in the Subdistrict and it is anticipated that they will all be designated as a hazardous substance site. In the event a parcel(s) is not designated 9