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C� <br />� <br />LJ <br />�� <br />Y. <br />Z. <br />bonds issued or other loans incurred to finance ro'ect <br />costs in Tax Increment Financing District No. 11; p� <br />(4) for the reporting period and for the duration of <br />Tax Increment Financing District No. <br />under the Tax Increment Financing Plan he a d L thebuagtued <br />amount expended for, at least, the following categories; :al <br />ia) acquisition of land and buildings through <br />condemnation or purchase; <br />(b) site improvements or preparation costs; <br />(c) installation of public utilities or other <br />public improvements; and <br />(d) administrative costs, including the allocated <br />cost of the City; <br />i5) Fox' properties so�d to developers, the total cost <br />of the property to the City and the price paid b <br />developers; y <br />(6) The amount of tax-exempt obligations, <br />those reported under clause 3 <br />of private entities for facilitieshlocated insued <br />Financing District No. �.1, Tax <br />Assumptions <br />other than <br />on behalf <br />Increment <br />It Was necessary to make certain assumptions regardin <br />�ncome, costs and timing of Tax Increment Financing Distr' g <br />No. 11. These assumptions are based on discussions with the <br />City, County, and the prospective developers. <br />Municipal Findings <br />Pursuant �o Minnesota Statutes, Section 469.175, Subdivision <br />3, before or at 'the time of a <br />financin pproval of the tax increment <br />g plan, the municipality shall make the following <br />findings and shall set forth in writing the reasons <br />supporting facts for each determination. and <br />1• The proposed development or redevelopment, ln t <br />opinion of the cit � he <br />y, would not reasanably be expected <br />to occur solely through private investment within the <br />reasonably foreseeable future and, therefore, the use <br />�g tax increment financing is deemed necessar <br />Without the City's assistance with the assembla e of <br />developable but s u b s t a n d a r d o r i m proper ly zoned parcels <br />in order to m a k e s i t e s s ui ta b le for future <br />commercial/industrial development, the developers could <br />not feasibly construct their developments and without <br />the use of tax increments to assist with the financin <br />g <br />