Findings

The Council finds that: (1) Pursuant to § 1-204.90, the TIF Act provides for the issuance of TIF Bonds to finance certain public infrastructure costs of eligible projects to the extent the debt service on the TIF Bonds can be paid from tax revenues generated by those eligible projects and does not violate District law with regard to the limitations on the issue of debt. (2) The Development Sponsor has requested that the District consider the issuance of TIF Bonds, in one or more taxable or tax-exempt issues, for the purpose of financing or reimbursing the Development Sponsor for development costs of the Project in the net amount of $90 million. (3) The Project is desirable and in the public interest.