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redevelopment of similar scope is anticipated on this site without substantially similar <br /> assistance being provided to the development. <br /> Therefore, the City concludes as follows: <br /> a. The City's estimate of the amount by which the market value of the entire District <br /> will increase without the use of tax increment financing is $0. <br /> b. If the proposed development occurs, the total increase in market value will be <br /> $9,747,368 (see Appendix D and G of the TIF Plan) <br /> c. The present value of tax increments from the District for the maximum duration <br /> of the district permitted by the TIF Plan is estimated to be $2,119,387 (see <br /> Appendix D and G of the TIF Plan). <br /> d. Even if some development other than the proposed development were to occur, <br /> the Council finds that no alternative would occur that would produce a market <br /> value increase greater than $7,627,981 (the amount in clause b less the amount in <br /> clause c) without tax increment assistance. <br /> 3. Finding that the TIF Plan for the District conforms to the general plan for the <br /> development or redevelopment of the municipality as a whole. <br /> The City Council has reviewed the TIF Plan and has found that the TIF Plan conforms to <br /> the general development plan of the City. <br /> 4. Finding that the TIF Plan for the District will afford maximum opportunity, consistent <br /> with the sound needs of the City as a whole, for the development or redevelopment of <br /> Redevelopment Project No. 1 by private enterprise. <br /> The project to be assisted by the District will result in increased employment in the City and the <br /> State of Minnesota, the renovation of substandard properties, the remediation of environmentally <br /> contaminated land, and increased tax base in the State, and will bring a high-quality development <br /> and living-wage employment opportunities to the City. <br /> 555858v2 MN1 RS275-16 <br />