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deteriorated exterior and substandard electrical <br /> service. <br /> 5 . The EDA is presently reviewing the proposed redevelopment <br /> plan and will meet again on August 13, 1990, to make a <br /> determination on the adoption of TIF District No. 8. <br /> 6. That the tax increment financing plan will afford maximum <br /> opportunity, consistent with the needs of the City, for <br /> the redevelopment of the project by private enterprise. <br /> 7 . That the proposed redevelopment would not be reasonably <br /> expected to occur solely through private investment as a <br /> result of the need to clear blighted structures. <br /> 8. That a public hearing and notice thereof has been <br /> published in the official newspaper of the City and was <br /> held and that an opportunity to be heard was granted to <br /> all residents of the City and all other interested persons. <br /> RESOLVED <br /> A. That the EDA of the City of Elk River hereby adopts each <br /> of the findings set forth above. <br /> B. That the EDA of the City of Elk River hereby finds that <br /> conditions exist for the creation of a Redevelopment <br /> District pursuant to Minnesota Statutes Section 469 . 174, <br /> • Subd. 10(1) . <br /> C. That the EDA of the City of Elk River hereby directs its <br /> staff and consultants to proceed to take the steps <br /> necessary to create TIF District No. 8. <br /> The foregoing resolution was introduced by Commissioner <br /> Kropuenske and duly seconded by Commissioner Schuldt . The <br /> following voted in favor of the resolution: <br /> Chairman Tralle, Commissioners Schuldt, Kropuenske, <br /> Gongoll, Dwyer, and Dobel <br /> The following voted against: <br /> None <br /> The following were absent: <br /> Commissioner Holmgren <br /> Whereupon the resolution was adop =d July 23, 1991 <br /> i <br /> 2C _ <br /> ATTEST: James A. Tralle, President <br /> Patrick D. Klaers, Executive Director <br />