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i i and building remediation and site and public improvements and utilities make redevelopment of the site for any purpose other than its current industrial/warehouse use infeasible without tax increment assistance. This site has been marketed and sold several times over the last several years and no previous owners have contemplated or made improvements to the existing substandard building. The City reasonably determines that no redevelopment could be anticipated on this site without substantially similar assistance. Therefore, the City concludes as follows: a. The City's estimate of the amount by which the market value of the entire District will increase without the use of tax increment financing is $0. b. If the proposed development occurs,the total increase in market value will be $4,254,200. C. The present value of tax increments from the District for the maximum duration of the district permitted by the TIF Plan is estimated to be $1,642,146. d. Even if some development other than the proposed development were to occur, the Council finds that no alternative would occur that would produce a market value increase greater than $2,612,054 (the amount in clause b less the amount in clause c) without tax increment assistance. 3. Finding that the TIF Plan for the District conforms to the general plan for the development or redevelopment of the municipality as a whole. The City has reviewed the TIF Plan and finds that the TIF Plan conforms to the general development plan of the City. Specifically, the City finds that the parcel included in the TIF District is located within a designated Community Mixed Use ("CMU") district within the City's zoning code. A CMU district is designed to encourage the development or redevelopment of mixed uses that may include housing, office, commercial,park, civic, institutional, and open space. 4. Finding that the TIF Plan for the District will afford maximum opportunity, consistent with the sound needs of the City as a whole, for the development or redevelopment of Redevelopment Project No. 1 by private enterprise. The project to be assisted by the District will result in increased employment in the City and the State of Minnesota, the renovation of a substandard property into . a code-compliant, productive use, increased tax base of the State, and the addition of a high quality development to the City.