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Consider Resolution Finding a TIF Plan for <br /> Downtown Phase I Tax Increment Financing District No. 22 <br /> Conforms to the General Plans of the City <br /> October 26,2004 Planning Commission <br /> Page 2 of 2 <br /> 10,000 square feet of commercial space and 32 rental housing units. The proposed location of the <br /> District is indicated on the map within the attached Tax Increment Financing Plan. <br /> The City Council has scheduled a public hearing on the Tax Increment Financing Plan for <br /> November 1, 2004, at approximately 6:30 P.M. The MN Tax Increment Financing Act requires that <br /> prior to the adoption of a tax increment financing plan the City or its Planning Commission must <br /> determine that the tax increment financing plan conforms to the general plan for the development <br /> or redevelopment of the city as a whole. <br /> Recommendation <br /> Staff recommends that the Planning Commission consider approval of the Resolution Finding a Tax <br /> Increment Financing Plan for Downtown Phase I Tax Increment Financing District No. 22 <br /> Conforms to the General Plans for the Development and Redevelopment of the City. <br /> • <br /> H:\SHRDOC\Downtown Revitalization\TIF\Oct planning comnilssion.doc <br />