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Development District in terms of redevelopment of blighted property, development intensity, and tax base. 2.04. The TIF Plan conforms to the general plan for development of the City as a whole. 2.05. The TIF Plan will afford maximum opportunity, consistent with the sound needs of the City as a whole, for the redevelopment of the TIF District and the Development District by private enterprise. 2.06. The TIF District is a redevelopment district under Section 469.174, subdivision 10 of the TIF Act. 2.07. Reasons and facts supporting all the above findings are set forth in the TIF Plan and in Exhibit A attached to this resolution and are incorporated herein by reference. The Council has also relied upon reports and recommendations of its staff and consultants, as well as the personal knowledge of members of the Council, in reaching its conclusions regarding the TIF Plan. 2.08. The Council elects to calculate the fiscal disparities for the TIF District in accordance with Section 469.177, subdivision 3(b) of the Act, which means that the fiscal disparities contribution will be taken from inside the TIF District. Section 3. Public Purpose. The adoption of the modified Development Program and the TIF Plan conforms in all respects to the requirements of the TIF Act. The modified Development Program and the TIF Plan will help facilitate redevelopment that will create additional affordable rental housing and market-rate rental housing, create new commercial uses, and improve the tax base. The City expressly finds that any private benefit to be received by any potential private redevelopers is incidental, as the tax increment assistance is provided solely to make the redevelopment financially feasible and thus produce the public benefits described. Therefore, the City finds that the public benefits of the modified Development Program and the TIF Plan exceed any private benefits. Section 4. Approvals; Further Proceedings. 4.01. The modified Development Program and the TIF Plan are hereby approved and adopted in substantially the forms on file at City Hall and shall be placed on file in the office of the Economic Development Program Manager. 4.02. The Auditor of Ramsey County is requested to certify the original net tax capacity of the TIF District, as described in the modified Development Program and the TIF Plan, and to certify in each year thereafter the amount by which the original net tax capacity has increased or decreased. REDA is authorized and directed to forthwith transmit this request to the County Auditor in such form and content as the County Auditor may specify, together with a list of all properties within the TIF District for which building permits have been issued during the eighteen (18) months immediately preceding the adoption of this resolution.