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EDA RESOLUTION 96 - <br /> • A RESOLUTION FOR THE ECONOMIC DEVELOPMENT AUTHORITY <br /> FOR THE CITY OF ELK RIVER, MINNESOTA, RELATING TO THE <br /> ESTABLISHMENT OF TAX INCREMENT FINANCING DISTRICT NO. 15 <br /> AND THE ADOPTION AND APPROVAL OF THE TAX INCREMENT <br /> FINANCING PLAN RELATING THERETO, LOCATED WITHIN <br /> DEVELOPMENT DISTRICT NO. 1 <br /> BE IT RESOLVED by the Economic Development Authority for the City of <br /> Elk River, Minnesota (EDA), as follows: <br /> Section 1. - Recitals. <br /> 1.01. It has been proposed that the EDA establish Tax Increment <br /> Financing District No. 15 within Development District No. 1. <br /> 1.02 The EDA has caused to be prepared a proposed Tax Increment <br /> Financing Plan (the Plan) for Tax Increment Financing District No. 15. <br /> 1.03 The EDA has performed all actions by Minnesota Statutes to be <br /> performed prior to the establishment of Tax Increment Financing District No. <br /> • 15 and the adoption of the Plan relating thereto. <br /> 1.04 The EDA hereby determines that it is necessary and in the best <br /> interest of the City at this time to establish Tax Increment Financing District <br /> No. 15 and to approve the Plan relating thereto. <br /> Section 2. - Findings for the Establishment of Tax Increment <br /> Financing District No. 15. <br /> 2.01 The EDA hereby finds, determines, and declares that the <br /> establishment of Tax Increment Financing District No. 15 within <br /> Development District No. 1 is intended and, in the judgment of this EDA, its <br /> effects will be, to provide an impetus for commercial and industrial <br /> development, increase employment and otherwise promote certain public <br /> purposes and accomplish certain objectives as specified in the Plan for Tax <br /> Increment Financing District No. 15. <br /> 2.02 The EDA further finds, determines, and declares that Tax <br /> Increment Financing District No. 15 qualifies as an Economic Development <br /> District pursuant to Minnesota Statutes, Section 469.174, Subdivision 12. <br /> • 2.03 The EDA further finds, determines, and declares that the <br /> proposed development, in the opinion of the EDA, would not occur solely <br />