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b.) To increase employment opportunities in the city by <br />encouraging additional business and industrial <br />development. <br />c.) Provide adequately serviced business and industrial <br />areas of the city to accommodate desirable users. <br />d.) Remedy a deficiency in the storage capacity of the <br />existing water system, which is restricting development <br />in areas the city planned and designated for business and <br />industrial use. <br />e.) Preserve and enhance the tax base of the city. <br />£) Provide maximum opportunity, consistent with the needs <br />of the city, for development by private enterprise. <br />The TIF Plan states that tax increment generated by the TIF <br />District will be used for public improvements determined by the <br />City Council to be necessary and appropriate to meet the <br />purposes of the TIF Plan and the Development Program. The <br />City Council has determined that paying for certain public <br />infrastructure improvements, redevelopment and urban <br />development activities, and business park and industrial park <br />initiatives identified in this Modification is necessary and <br />appropriate to meet the purposes of the Development District <br />because it will: <br />i) Preserve and enhance the tax base of the city, <br />ii) Encourage additional business and commercial <br />development through the elimination of blight in <br />residential, central commercial, office, highway <br />commercial, and business park and industrial park <br />areas, <br />iii) Increase employment opportunities in the city. <br />These goals are consistent with the goals and purposes of <br />the Development Program and the TIF Plan. <br />2.) Property to be Acquired - In order to achieve the goals and <br />objectives of the Development Program, it is hereby deemed <br />necessary and appropriate for the City of Elk River or the <br />Economic Development Authority for the City of Elk River (the <br />