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foreseeable future and therefore the use of tax increment <br /> • financing is necessary. <br /> 12 . That creation of TIF District No. 7 and capture of <br /> the tax increment generated by the ERM Properties in the <br /> district is the only available means of financing the land <br /> acquisition costs necessary to allow ERM Properties to locate <br /> within the City and Development District No. 1. <br /> 13 . That the TIF Plan for TIF District No. 7 is <br /> consistent with and conforms to the comprehensive plan for the <br /> development of the City as a whole and to the City's adopted <br /> land use plan. <br /> 14 . That the TIF Plan does not conflict with any other <br /> known private proposals or other public projects. <br /> 15. That the TIF Plan will afford maximum opportunity, <br /> consistent with the sound needs of the City as a whole, for <br /> development by private enterprise. <br /> 16 . That the TIF Plan adequately and accurately sets <br /> forth the goals, objectives, and other details regarding TIF <br /> District No. 7 . <br /> 17 . That the TIF Plan has been transmitted by the City to <br /> the Sherburne County Board of Commissioners and to the School <br /> • Board for Independent School District No. 728 . <br /> 18. That the City has presented to the County Board and <br /> the School Board the City's estimate of the fiscal and economic <br /> implications of TIF District No. 7 . <br /> 19 . That notice of a public hearing on the TIF Plan and <br /> on establishment of TIF District No. 7 has been published in <br /> the official newspaper of the City, as required by the <br /> Minnesota Tax Increment Financing Act. <br /> 20 . That a public hearing on the TIF Plan and on <br /> establishment of TIF District No. 7 was held before the <br /> Authority, and that an opportunity to be heard was granted at <br /> that time to all residents of the City and all other interested <br /> persons. <br /> RESOLVED <br /> A. That the Economic Development Authority of the City <br /> of Elk River hereby adopts each and every one of the findings <br /> set forth above. <br /> B. That the Economic Development Authority of the City <br /> of Elk River hereby approves and adopts the Tax Increment <br /> • Financing Plan for Tax Increment Financing District No. 7 . <br /> 3. <br />