(A) Preliminary findings. It is hereby determined that the Downtown Development Plan and Tax Increment Financing Plan (the Plan) constitutes a public purpose, and that approval of the Plan on 5-1-2006 was preceded by a public hearing pursuant to notice thereof by publication, posting, and mail as required by Public Act 197 of 1975, being M.C.L.A. §§ 125.1651 to 125.1680, as amended.
(B) Approval of Plan. The City Council of the City of the Village of Douglas hereby adopts and approves the Downtown Development Plan and Tax Increment Financing Plan of the Downtown Development Authority of the city.
(C) Effective date and publication. This section shall become effective 5-25-2006, which will be not less than 20 days after publication. This section or a summary thereof shall be published in The Commercial Record, a newspaper of general circulation in the City of the Village of Douglas.
(Ord. 04-2006, passed 5-1-2006)