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5. Preserve and enhance the tax base of the city; <br /> 111/ 6. Preserve and enhance the quality of life of the city; and, <br /> 7. Provide maximum opportunity, consistent with the needs of the city for <br /> development by private enterprise. <br /> Data on file regarding the qualifications of the redevelopment tax increment financing district. <br /> C. DEVELOPMENT PROGRAM OVERVIEW <br /> 1. 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 /> 2. Relocation - Complete relocation services are available pursuant to Minnesota <br /> Statutes. Chapter 117 and other relevant state and federal laws. <br /> 3. 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 /> 4. 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 /> D. DESCRIPTION OF PROPERTY IN DISTRICT NO. 16 <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 /> 75-405-0160 305 & 307 King Avenue <br /> 75-405-0150 317 King Avenue <br /> 75-405-0140 812 Main Street <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 /> See the map in Exhibit A for further information on the location of District No. 16. <br /> E. CLASSIFICATION OF THE TAX INCREMENT FINANCING DISTRICT <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 469.179, as amended, inclusive, find that <br /> District No. 16 to be established is a redevelopment district pursuant to Minnesota Statutes, Section <br /> 469.174, Subdivision 10 as defined below: <br /> Tax Increment Financing District No.16 <br /> Page 11-2 <br />