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Attachment D 196 redevelopment of similar scope is anticipated on this site without substantially similar 197 assistance being provided to the development. 198 199 Therefore, the City concludes as follows: 200 201 a. The City's estimate of the amount by which the market value of the entire District 202 will increase without the use of tax increment financing is $0. 203 204 b. If the proposed development occurs, the total increase in market value will be 205 $9,747,368 (see Appendix D and G of the TIF Plan) 206 207 c. The present value of tax increments from the District for the maximum duration 208 of the district permitted by the TIF Plan is estimated to be $2,119,387 (see 209 Appendix D and G of the TIF Plan). 210 211 d. Even if some development other than the proposed development were to occur, 212 the Council finds that no alternative would occur that would produce a market 213 value increase greater than $7,627,981 (the amount in clause b less the amount in 214 clause c) without tax increment assistance. 215 216 3. Finding that the TIF Plan for the District conforms to the general plan for the 217 development or redevelopment of the municipality as a whole. 218 219 The City Council has reviewed the TIF Plan and has found that the TIF Plan conforms to 220 the general development plan of the City. 221 222 4. Finding that the TIF Plan for the District will afford maximum opportunity, consistent 223 with the sound needs of the City as a whole, for the development or redevelopment of 224 Redevelopment Project No. 1 by private enterprise. 225 226 The project to be assisted by the District will result in increased employment in the City and the 227 State of Minnesota, the renovation of substandard properties, the remediation of environmentally 228 contaminated land, and increased tax base in the State, and will bring a high-quality development 229 and living-wage employment opportunities to the City. 230 231 232 555858v2 MNI RS275-16