4.3. SR 12-21-1995 - Laserfiche WebLink

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b.) To increase employment opportunities in the city by encouraging additional business and industrial development. c.) To preserve and enhance the tax base of the city. d.) To provide financing for public improvements within the Development District as found by the City Council to be necessary or appropriate to meet the purposes of the Development District. e.) To provide maximum opportunity, consistent with the needs of the City, for development by private enterprise. The TIF Plan states that tax increment generated by the TIF District will be used for public improvements and facilities determined by the City Council to be necessary and appropriate to meet_the purposes of the Development Program. The City Council has determined that paying for certain public infrastructure improvements, redevelopment activities, and business park and industrial park initiatives identified in this Modification is necessary and appropriate to meet the purposes of the Development District because these activities will: i) Preserve and enhance the tax base of the city, ii) Encourage additional business and commercial development through the elimination of the blighting influence in certain residential, central commercial, office, highway commercial, and business park and industrial areas throughout the city, and, iii) Increase employment opportunities in the city. These purposes are consistent with the goals and purposes of the Development Program and the TIF Plan. 2.) Property to be Acquired - In order to achieve the goals and objectives of the Development Program, it is hereby deemed necessary and appropriate for the City of Elk River or the Economic Development Authority for the City of Elk River (the EDA) or the Housing and Redevelopment Authority for the City of Elk River (the HRA) to acquire certain property located • throughout the Development District. The acquisition of property in support of private development activity will be done