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to the same extent as if set forth in full herein.. The Council hereby confirms, ratifies and <br />adopts the Materials, which are hereby incorporated into and made as fully a part of this <br />resolution to the same extent as if set forth in full herein; and <br />WHEREAS, the City is not modifying the boundaries of Development District No. 1, but <br />is however, modifying the Development Program therefor to incorporate the TIF District. <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk <br />River, Minnesota, as follows: <br />Section 1. Findings for the Adoption and Approval of the Development Program <br />Modification. <br />1.01. The Council approves the Development Program Modification, and <br />specifically finds that: (a) the land within the Development District would not be available <br />for redevelopment without the financial aid to be sought under this Development Program; <br />(b) the Development Program Modification will afford maximum opportunity, consistent <br />with the needs of the City as a whole, for the development of the Development District by <br />private enterprise; and (c) that the Development Program Modification conforms to the <br />general plan for the development of the City as a whole. <br />Section 2. Findings for the Establishment of Tax Increment Financing District <br />(Housing) No. 28. <br />2.01. The Council hereby finds that Tax Increment Financing District (Housing) <br />No. 28 is in the public interest and is a "housing district" under Minnesota Statutes, Section <br />469.174, Subd. 11 of the Act. <br />2.02. The Council further finds that the proposed development would not occur <br />solely through private investment within the reasonably foreseeable future and, therefore, <br />the use of tax increment financing is deemed necessary; that the Program and Plan conform <br />to the general plan for the development or redevelopment of the City as a whole; and that <br />the Program and Plan will afford maximum opportunity consistent with the sound needs of <br />the City as a whole, for the development or redevelopment of the District by private <br />enterprise. <br />2.03. The Council further finds, declares and determines that the City made the <br />above findings stated in this Section and has set forth the reasons and supporting facts for <br />each determination in writing, attached hereto as Exhibit A. The provisions of Exhibit A are <br />hereby incorporated by reference into and made a part of the TIF Plan and the findings set <br />forth in the TIF Plan, in particular Section J, are hereby incorporated by reference into and <br />made a part of this Resolution <br />Section 3. Public Purpose. <br />3.01. The adoption of the Program and Plan conforms in all respects to the <br />requirements of the Act and will help fulfill a need to develop an area of the City which is <br />P 0 Y E A E® I Y <br />NATUREI <br />