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<br />related regulations and encourages the provision and <br />development of commercial and industrial land as set forth <br />in the City's Land Use/Comprehensive Plans. <br /> <br />2.04. The Council has heretofore found that the Finance <br />Plan for Tax Increment Financing District No. 11 will afford <br />maximum opportunity consistent with the sound needs of the City <br />as a whole, for the development of Development District No. 1 by <br />private enterprise. The specific basis for such finding being: <br /> <br />It will enable the City to provide suitable sites for future <br />development: thereby encouraging redevelopment in the area. <br /> <br />.~ section 3. Findinqs for the Creation of Hazardous Substance <br />Subdist~ict No. 11A. <br /> <br />The Council hereby finds that the creation of Hazardous <br />Substance Subdistrict No. 11A is intended and, in the judgment of <br />this Council, its effect will be, to cause the removal of <br />blighted buildings, increase employment and otherwise promote <br />certain public purposes and accomplish certain objectives as <br />specified in the Development Program and Finance Plan. <br /> <br />section 4. Findinqs for the Establishment of Hazardous <br />Substance Subdistrict No. 11A. <br /> <br />4.01. The Council hereby finds that Hazardous Substance <br />Subdistrict No. 11A is a hazardous substance subdistrict pursuant <br />to Minnesota statutes, Section 469.175, Subdivision 7(a). <br /> <br />4.02. The Council further finds that the proposed <br />development or redevelopment of the sites within Hazardous <br />Substance Subdistrict No. 11A, in the opinion of the City, would <br />not reasonably be expected to occur solely through private <br />investment and tax increment otherwise available, and therefore <br />the hazardous substance district is deemed necessary. The <br />specific basis for such finding being: <br /> <br />The City acquired the former Midwest Great Dane site (PIN <br />number 04-29-23-34-0006) and subsequently sold the site to <br />Ryan Construction for development of their Phase I building. <br />Initial environmental review indicated no problems. The <br />City utilized tax increment to clear the property and write <br />down the acquisition costs of the developer to make the <br />proposed development economically feasible. However, during <br />the construction process, soil contamination was discovered <br />and the City has worked closely with the Minnesota Pollution <br />Control Agency to clean the site up. The City will incur <br />expenses approximately equal to $500,000 to complete the <br />clean up of the site. The City has attempted to recover <br />costs from the previous property owner but has not been <br />successful. The City has initiated a lawsuit against the <br />property owner, however. The $500,000 of additional costs <br /> <br />268465.1 <br /> <br />3 <br />