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Resolution 8634 Page 2 reaffirms the findings previously made with respect to the establishment of Tax Increment Financing Districts Nos. 1-12. (b) The proposed redevelopment in the opinion of the City council, would not occur solely through private investment within the reasonably foreseeable future and therefore, the use of tax increment financing is deemed necessary. The reasons supporting this finding are that: Private investment will not finance these development activities set out in the Tax Increment Financing Plans for Tax Increment Financing Districts Nos. 1-12 because or prohibitive costs. It is necessary to finance these development acti vi ties through the use of tax increment financing so that other development by private enterprises will occur within Development District No.1. (c) The Tax Increment Financing Plans for Tax Increment Financing Districts Nos. 1-12 conform to the general plan for development or redevelopment of the City of Roseville as a whole. The reasons for supporting this finding are that: The Tax Increment Financing Plans for Tax Increment Financing Districts Nos. 1-12 will generally compliment and serve to implement policies adopted in the City's comprehensive plan. (d) The Tax Increment Financing Plans will afford maximum opportunity, consistent with the sound needs of the City of Roseville as a whole, for the development or redevelopment of Development District No. 1 by private enterprise. The reasons supporting this finding are that: The development activities are necessary so that development and redevelopment by private enterprise can occur within Development District No.1. 4. Public Purpose. The adoption of the amendments to the Tax Increment Financing Plans for Tax Increment Financing Districts No. 1-12 conform in all respects to the requirements of the Act and will help fulfill a need to develop an area of the City which is already built up to provide employment opportunities to improve the tax base and to improve the general economy of the state and thereby serves a public purpose. 5. Filinq. The City Manager is further authorized and directed to file a copy of the Modified Tax Increment Financing Plan amendments for Tax Increment Financing Districts No. 1-12 with the Commissioner of Revenue.