(A) Findings.
(1) Because there were not 100 or more residents residing within the development area, there was no development area citizens council formed.
(2) The plan meets the requirements set forth in the act.
(3) The proposed method of financing the development is feasible and the Authority has the ability to arrange the financing.
(4) The development is reasonable and necessary to carry out the purposes of the act.
(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) Any changes in zoning, streets, street levels, intersections, and utilities are reasonably necessary for the project and the city.
(B) Public purpose. The City Council hereby determines that the plan constitutes a public purpose.
(C) Best interest of the public. The City Council hereby determines that it is in the best interests of the public to proceed with the plan in order to halt property value deterioration, to increase property tax valuation, to eliminate the causes of the deterioration in property values, and to promote growth in the Downtown District.
(D) Approval and adoption of plan. The plan is hereby approved and adopted. A copy of the plan, as amended, and all later amendments thereto shall be maintained on file in the City Clerk's office.
(E) Amendment of article. This article is hereby amended to incorporate the changes to the amended plan as amended by the plan amendments, and it otherwise ratified and confirmed as being in full force and effect. All other ordinances, resolutions and orders or parts thereof in conflict with the provisions of this section are to the extent of such conflict hereby repealed, and each section of the article and each subdivision of any section thereof is hereby declared to be independent, and the finding or holding of any section or subdivision thereof to be invalid or void shall not be deemed or held to affect the validity of any other section or subdivision of the article.
(F) Paragraph headings. The paragraph headings in this section are furnished for convenience of reference only and shall not be considered to be a part of the section.
(G) Effective date. This section is hereby determined by the City Council to be immediately necessary for the interests of the city and shall be in full force and effect 20 days after its passage.
(1993 Code, § 22-49) (Ord. passed 6-12-2000; Ord. passed 5-27-2003)