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5. Preserve and enhance the tax base of the city; <br /> <br />Preserve and enhance the quality of life of the city; and, <br /> <br />Provide maximum opportunity, consistent with the needs of the city for <br />development by private enterprise. <br /> <br />Data on file regarding the qualifications of the redevelopment tax increment financing district. <br /> <br />C. DEVELOPMENT PROGRAM OVERVIEW <br /> <br />Property to be Acquired - Property located entirely within District No. 16 is owned <br />by the Authority and is further described in Subsection F of this Plan. <br /> <br />Relocation ~ Complete relocation services are available pursuant to Minnesota <br />Statutes, Chapter 117 and other relevant state and federal laws. <br /> <br />Upon approval of the developer's plan relating to the project and completion of the <br />necessary legal requirements, the Authority may sell to the developer selected <br />properties it currently owns within District No. 16. <br /> <br />o <br /> <br />The City or the Authority may perform or provide for some or all necessary <br />relocation, removal of substandard structures, site preparation, demolition, <br />construction of required utilities and public parking/streets work within District No. <br />16. <br /> <br />5. District No. 16 contains property zoned central commercial. All development in the area <br /> will conform to applicable state and local codes and ordinances. <br /> <br />D. DESCRIPTION OF PROPERTY IN DISTRICT NO. 16 <br /> <br />District No. 16 encompasses the parcels as identified below in addition to all adjacent (King <br />Avenue and Main Street) and interior right-of-ways: <br /> <br />75~405-0160 <br />75-405-0150 <br />75-405-0140 <br /> <br />305 & 307 King Avenue <br />317 King Avenue <br />812 Main Street <br /> <br />The City or the Authority reserves a right to approve all or a portion of the area of the parcels listed <br />as being designated for District No. 16. <br /> <br />See the map in Exhibit A for further infOrmation on the location of District No. 16. <br /> <br />E. CLASSIFICATION OF THE TAX INCREMENT FINANCING DISTRICT <br /> <br />The City and the Authority, in determining the need to create a tax increment financing district in <br />accordance with Minnesota Statutes, Section 469.174 to 469.1 79, as amended, inclusive, find that <br />District No. 16 to be established is a redevelopment district pursuant to Minnesota Statutes, Section <br />469.1 74, Subdivision 10 as defined below: <br /> <br />Tax Increment Financing District No. 16 Page II-2 <br /> <br /> <br />