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6 . That the tax increment financing plan will afford maximum opportunity, consistent with the needs of the City, for the • redevelopment of the project by private enterprise. 7 . That the proposed redevelopment would not be reasonably expected to occur solely through private investment as a result of the need to clear blighted structures . 8 . That a public hearing and notice thereof has been published in the official newspaper of the City and was held and that an opportunity to be heard was granted to all residents of the City and all other interested persons . RESOLVED A. That the EDA of the City of Elk River hereby adopts each and every one of the findings set forth above. B. That the EDA of the City of Elk River hereby finds that conditions exist for the creation of a Redevelopment District pursuant to Minnesota Statutes Section 469 . 174, Subd. 10( 1) . C. That the City Council and the EDA of the City of Elk River hereby establishes that area of the City designated in the TIF Plan for TIF District No. 8 as TIF District No. 8 . D. That the EDA of the City of Elk River hereby directs its • staff and consultants to proceed to take the steps necessary to create and implement TIF District No. 8, including the filing of the TIF Plan and this Resolution with the Minnesota Commissioner of Energy, Planning, and Development and the Sherburne County Auditor, and requesting the Sherburne County Auditor to certify the original assessed value of the property within TIF District No. 8 . The foregoing resolution was introduced by Commissioner Gongoll and duly seconded by Commissioner Dobel The following voted in favor of the resolution: Chairman Tralle, Commissioners Dobel, Dwyer, Holmgren, Schuldt Gongoll and Kropuenske The following voted against: None • 2 .