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Attachment D 91 3.03. The Council further finds, declares and determines that the City has properly 92 made the findings stated in this Section and has set forth the reasons and supporting facts for 93 each finding in writing, attached hereto as Exhibit A. 94 95 3.04. The Council elects to calculate fiscal disparities for the District in accordance 96 with Section 469.177, Subd. 3, clause b of the Act, which means the fiscal disparities 97 contribution will be taken from inside the District. 98 99 Section 4. Public Purpose 100 101 4.01. The adoption of the Program and Plan conforms in all respects to the 102 requirements of the Act and will help fulfill a need to redevelop an area of the City which is 103 already built up, to provide employment opportunities, to improve the tax base, and to improve 104 the general economy of the State, and thereby serves a public purpose. For the reasons described 105 in Exhibit A, the City believes these benefits directly derive from the tax increment assistance 106 provided under the TIF Plan. A private developer will receive only the assistance needed to 107 make this development financially feasible. As such, any private benefits received by a 108 developer are incidental and do not outweigh the primary public benefits. 109 110 Section 5. Approval and Adoption of the Program and Plan 111 112 5.01. The Program and Plan, as presented to the Council on this date, including without 113 limitation the findings and statements of objectives contained therein, are hereby approved, 114 ratified, established, and adopted and shall be placed on file in the office of the Economic 115 Development Program Manager. 116 117 5.02. The staff of the City, the City's advisors and legal counsel are authorized and 118 directed to proceed with the implementation of the Program and Plan and to negotiate, draft, 119 prepare and present to this Council for its consideration all further plans, resolutions, documents 120 and contracts necessary for this purpose. 121 122 5.03 The Auditor of Ramsey County is requested to certify the original net tax capacity 123 of the District, as described in the Program and Plan, and to certify in each year thereafter the 124 amount by which the original net tax capacity has increased or decreased; and REDA is 125 authorized and directed to forthwith transmit this request to the County Auditor in such form and 126 content as the Auditor may specify, together with a list of all properties within the District for 127 which building permits have been issued during the 18 months immediately preceding the 128 adoption of this resolution. 129 130 5.04. The Economic Development Program Manager is further authorized and directed 131 to file a copy of the Program and Plan with the Commissioner of the Minnesota Department of 132 Revenue and the Office of the State Auditor pursuant to Section 469.175, Subd. 4a of the Act. 133 134 135 136 555858v2 MNI RS275-16