RES 20-57 - Laserfiche WebLink

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and that the goal of the Development Program is to encourage development in accordance with the general plan of development of the City as a whole. The City hereby reaffirms the original findings for the Development Plan. Section 3. Findings for the Modification of the Tax Increment Financing Plan. The City hereby finds that the Modification is intended and, in the judgment of the City, its effect will be, to carry out the objectives of the TIF Plan and the Development Program including, but not limited to, facilitating the demolition of existing blighted buildings, facilitating the construction of an approximately 7,216 square foot facility to operate a light maintenance facility for the Beaudry Oil existing fleet, providing necessary public infrastructure and facilitating future development in the TIF District. 3.01. The Council hereby ratifies and reaffirms the original findings made in connection with the establishment of the TIF Plan. 3.02. The Council hereby finds that the TIF District, as amended by the Modification is in the public interest and is a redevelopment district, as defined in Minnesota Statutes, Section 469.174, Subdivision 10 for the reasons set forth in the original findings made by the Council in connection with the establishment of the TIF District. 3.03. The Council hereby makes the following additional findings: (a) The Council further finds that the TIF Plan, as amended by the Modification, in the opinion of Council, would not occur solely through private investment within the reasonably foreseeable future and, therefore, the use of tax increment financing is deemed necessary. The specific basis for such finding being: The property on which the proposed development will occur would not be developed in the reasonably foreseeable future. The demolition and redevelopment costs are higher than for new development and the costs of the public necessary to enable development in this area would make development infeasible. The TIF Plan, as amended by the Modification, will help finance the public infrastructure necessary for the proposed development. (b) The Council further finds that the TIF Plan, as amended by the Modification, conforms to the general plan for the development or redevelopment of the City as a whole. The specific basis for such finding being: The TIF Plan, as amended by the Modification, will generally complement and serve to implement policies adopted in the City's comprehensive plan. The construction of the development contemplated is or will be in substantial accordance with the existing zoning or any permitted exception for the property and is consistent with other uses in the area. (c) The Council further finds that the TIF Plan, as amended by the Modification, will afford maximum opportunity consistent with the sound needs of p 0 1 E I E I I I NATURE