(A) In accordance with § 17 of Public Act 197 of 1975, being M.C.L.A. §§ 125.1651 through 125.1681, as amended, the City Downtown Development Authority Board prepared a revised Development Plan as the basis for extending its Tax Increment Financing Plan and submitted this plan to the City Commission. Thereafter on 4-18-2011, the City Commission held a public hearing with notice as required by § 18 of the DDA Act, which provided full opportunity for expression of opinion, for argument on the merits, and for introduction of documentary evidence pertinent to the development plan.
(B) The City Commission hereby determines that the amended Development Plan and the extension of the Financing Plan submitted by the DDA Board constitute reasonable efforts and direction towards the furtherance of public purposes.
(C) The City Commission further determines the following.
(1) The Plans meet the requirements of § 17(2) of the Act.
(2) The proposed method of financing the development is feasible and the Authority has the ability to arrange the financing.
(3) The development is reasonable and necessary to carry out the purposes of the Act.
(4) The land included within the development area to be acquired is reasonably necessary to carry out the purposes of the plans and of the Act in an efficient and economically satisfactory manner.
(5) The development plan is in reasonable accord with the master plan of the city.
(6) Public services such as fire and police protection and utilities are or will be adequate to service the project area.
(7) There are no currently contemplated or proposed zoning changes, street changes or utility changes within the project area.
(D) The City Commission does accordingly approve the amended Development Plan and the Financing Plan submitted to the City Commission on the 3-28-2011 and the Clerk shall keep copies of said plans on file with the city for review by the public.
(Ord. 194, passed 5-2-2011)