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the City; (ii) determining that tax increment financing assistance is necessary for the <br />Project; (iii) verification of development financing need that substantiates that "but <br />for" the use of tax increment financing the Project would be unable to proceed <br />based on an analysis performed by the City's municipal advisor; and (iv) the <br />negotiation of a development agreement addressing (among other things) the <br />conditions under which the City or the HRA will provide financial assistance. <br />2. The City Council supports the Developer's application to MHFA for tax credits for <br />the Project. <br />The City Council authorizes the Mayor to provide a supplemental letter regarding the <br />use of tax increments if needed in support of the Developer's application for low <br />income housing tax credits. <br />Passed and adopted this 6Ih day of July 2020. <br />John J. Dietz, Mayor <br />ATTEST: <br />Tina Allard, City Clerk <br />i <br />