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<br />Properties, Inc. is also facing significant cost <br />considerations with respect to buildings in multi- <br />jurisdictions that further complicate its financing <br />capacity. <br /> <br />3.03. The Council further finds that the Tax Increment <br />Financing Plan for Tax Increment Financing District No. 13 <br />conforms to the general plan for the development or redevelopment <br />of the City as a whole. The specific basis for such finding <br />being: <br /> <br />The Tax Increment Financing Plan for Tax Increment Financing <br />District No. 13 will generally compliment and serve to <br />implement policies adopted in the City's comprehensive plan. <br /> <br />3.04. The Council further finds that the Tax Increment <br />Financing Plan for Tax Increment Financing District No. 13 will <br />afford maximum opportunity consistent with the sound needs of the <br />City as a whole, for the development of Development District <br />No. 1 by private enterprise. The specific basis for such finding <br />being: <br /> <br />It will enable the renovation or clearance of structurally <br />substandard buildings and the construction of new projects <br />in the City, thereby encouraging other development in the <br />area. <br /> <br />section 4. ADDroval of the Tax Increment Financina Plans. <br /> <br />4.01. The Tax Increment Financing Plan for Tax Increment <br />Financing District No. 13 is hereby approved and adopted. <br /> <br />4.02. The staff of the City, the City's advisors and legal <br />counsel are authorized and directed to proceed with the <br />implementation of the Tax Increment Financing Plans and for this <br />purpose to negotiate, draft, prepare and present to this Council <br />for its consideration all further plans, resolutions, documents <br />and contracts necessary for this purpose. <br /> <br />4.03. The Auditor of Ramsey County is requested to certify <br />the original net tax capacity of Tax Increment Financing District <br />No. 13, as described in the Tax Increment Financing Plan, and to <br />certify in each year thereafter the amount by which the original <br />net tax capacity have increased or decreased in accordance with <br />the Act; and the City Manager is authorized and directed to <br />forthwith transmit this request to the County Auditor in such <br />form and content as the Auditor may specify, together with a list <br />of all properties within Tax Increment Financing District No. 13 <br />for which building permits have been issued during the 18 months <br />immediately preceding the adoption of this resolution. <br /> <br />238096 <br /> <br />3 <br />