The city hereby finds, determines, and reaffirms:
(A) The project area, including the Increment District, is an enterprise area as defined by the Act;
(B) The financial impacts of the proposed project plan and project on the affected taxing jurisdictions and business activities within the Increment District are positive and that the economic benefits for the community as a whole offset any adverse impacts;
(C) The improvement of the project area is likely to enhance the value of other real property in the area and to promote the general public interest;
(D) The project plan complies with the guidelines of 62 O.S. § 852, including specifically divisions (1) and (2);
(E) The aggregate net assessed value of the taxable property in all increment districts within the city, as determined pursuant to the Act, does not exceed 35% of the total net assessed value of the taxable property within the city;
(F) The aggregate net assessed value of the taxable property in all increment districts within the city, as determined pursuant to the Act, does not exceed 25% of the total net assessed value of any affected school districts located within the city;
(G) The land within all increment districts within the city does not exceed 25% of the total land area of the city; and
(H) The project plan is feasible and conforms to the city’s Comprehensive Plan.
(Ord. 2021-002, passed 8-16-2021)