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(3) <br />(4) <br />Section K <br />City of Roseville, Minnesota <br />Even if some development other than the proposed development were to occur, the <br />Council finds that no alternative would occur that would produce a market value increase <br />greater than $15,978,745 (the amount in clause b less the amount in clause c) without tax <br />increment assistance. <br />A comparative analysis of estimated market values both with and without establishment of <br />the TIF District and the use of tax increments assumes no development will occur on the <br />site without assistance. The site is controlled by a developer that only anticipates creating <br />an affordable housing project requiring assistance. We assume the estimated market <br />value without creation of the district would only increase at most by an incremental <br />inflationary amount. The increase in estimated market value of the proposed development <br />(less the indicated subtractions) exceeds the estimated market value of the site absent the <br />establishment of the TIF District and the use of tax increments. <br />The TIF Plan conforms to the general plan for development or redevelopment of the City as a <br />whole; and <br />The reasons and facts supporting this finding are that the TIF District is properly zoned, <br />and the TIF Plan has been approved by the City Planning Commission and will generally <br />complement and serve to implement policies adopted in the City's Comprehensive Plan. <br />The TIF Plan will afford maximum opportunity, consistent with the sound needs of the City as a <br />whole, for the development of the Project Area by private enterprise. <br />The reasons and facts supporting this finding are that the development activities are <br />necessary so that development and redevelopment by private enterprise can occur within <br />the Project Area. <br />Estimated Public Costs <br />The estimated public costs of the TIF District are listed below. Such costs are eligible for reimbursement from tax <br />increments of the TIF District. <br />LandlBuilding acquisition <br />Site ImprovementslDemolition costs <br />Installation of public utilities <br />Streets and sidewalks <br />BondlNote principal <br />BondlNote interest, inc. capitalized interest <br />Administrative expenses <br />Other —Potential Affordable Housing Costs <br />Total <br />$913,610 <br />0 <br />0 <br />0 <br />0 <br />1,027,207 <br />219, 461 <br />59, 337 <br />$2,219, 615 <br />The City reserves the right to administratively adjust the amount of any of the items listed above or to incorporate <br />additional eligible items, so long as the total estimated public cost is not increased. <br />SPRINGSTED Page 5 <br />