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<br />. <br /> <br />. <br /> <br />,. <br /> <br />12. That creation of TIF District No.5 and capture of <br />the tax increment generated by the Alltool development in the <br />district is the only available means of financing the land <br />acquisition costs necessary to allow Alltool to relocate within <br />the City and Development District No.1. <br /> <br />13. That the TIF Plan for TIF District No. 5 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 /> <br />14. That the Planning Commission for the City of Elk <br />River has been consulted with respect to the TIF Plan and that <br />the TIF Plan conforms to the City's comprehensive and land use <br />plans. That the TIF Plan does not conflict with any other <br />known private proposals or other public projects. <br /> <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 /> <br />16. That the TIF Plan adequately and accurately sets <br />forth the goals, objectives, and other details regarding TIF <br />District No.5. <br /> <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 /> <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. 5 and has offered to meet with <br />the Sherburne County Board of Commissioners and the School <br />Board. <br /> <br />19. That notice of a public hearing on the TIF Plan and <br />on establishment of TIF District No. 5 has been published in <br />the official newspaper of the City, as required by the <br />Minnesota Tax Increment Financing Act. __ <br /> <br />20. That a public hearing on the TIF Plan and on = <br />establishment of TIF 'District No. 5 was held before the City <br />Council on June 20, 1988, and that an opportunity to be heard <br />was granted at that time to all residents of the City and all <br />other interested persons. <br /> <br />RESOLVED <br /> <br />A. That the City Council of the City of Elk River hereby <br />adopts each and every one of the findings set forth above. <br /> <br />B. That the City Council of the City of Elk River hereby <br />approves and adopts the Tax Increment Financing Plan for Tax <br />Increment Financing District No.5. <br /> <br />3. <br />