Laserfiche WebLink
2 . 03 . The EDA further finds that 100% of the parcels in <br /> Tax Increment District No. 12 are occupied by improvements <br /> which are structurally substandard to a degree requiring <br /> III clearance before the parcels can be built upon; thereby meeting <br /> the standards in Minnesota Statutes, Section 469 . 174, <br /> Subdivision 10, paragraph (a) , clause ( 1) . <br /> 2 . 04 . The EDA further finds, determines and declares <br /> that the proposed development, in the opinion of the EDA, would <br /> not occur solely through private investment within the <br /> reasonably foreseeable future and, therefore, the use of Tax <br /> Increment Financing is deemed necessary. <br /> 2 . 05. The EDA further finds, determines and declares <br /> that the proposed Plan for Tax Increment Financing District No. <br /> 12 conforms to the Comprehensive Plan of the City. <br /> 2 . 06 . The EDA further finds, determines and declares <br /> that the proposed Plan for Tax Increment Financing District No. <br /> 12 will afford maximum opportunity, consistent with the sound <br /> needs of the City as a whole, for the development or <br /> redevelopment of Development District No. 1 by private <br /> enterprise. <br /> 2 . 07 . The EDA determines and declares that Tax <br /> Increment Financing District No. 12 located within Development <br /> District No. 1 is hereby established. <br /> Section 3 . - Adoption of the Plan. <br /> III <br /> 3. 01 . The Plan for Tax Increment Financing District No. <br /> 12 presented to the EDA on this date, is hereby approved and <br /> adopted and shall be placed on file in the office of the City <br /> Clerk. <br /> Section 4 . - Implementation of the Plan. <br /> The Executive Director of the EDA, the City Administrator, and <br /> the Finance Director are authorized and directed to proceed <br /> with implementation of the Plan, and for this purpose, to <br /> negotiate, draft, and prepare and present to the EDA for its <br /> consideration all future plans, resolutions, documents and <br /> contracts necessary for this purpose. <br /> Adopted this 15th day of November, 1993. <br /> ) 7e( i . . / <br /> Je 1. A. Gongo'. , President <br /> ATTEST: Elk •iver DA <br /> 411 . / <br /> Patrick D. Klaers, xecutive Director <br /> Elk River EDA <br />