(A) Pursuant to § 19(1) of Act 197, being M.S.A. § 5.3010(19)(1), the City Council hereby finds and determines as follows:
(1) That the Development Plan and Tax Increment Financing Plan constitutes and embodies a public purpose of the city;
(2) That the Development Plan and Tax Increment Financing Plan meets the requirements set forth in §§ 14(2) and 17(2) of Act 197, being M.S.A. §§ 5.3010(14)(2) and 5.3010(17)(2);
(3) That the proposed method of financing the development activities described in the Development Plan and Tax Increment Financing Plan is feasible, and that the Downtown Development Authority had the ability to arrange the financing;
(4) That the development activities described in the Development Plan and Tax Increment Financing Plan are reasonable and necessary to carry out the purposes of Act 197;
(5) That the land to be acquired within the Downtown Development Authority District is reasonably necessary to carry out the purpose of the Development Plan and Tax Increment Financing Plan and the purposes of Act 197;
(6) That the Development Plan and Tax Increment Financing Plan is in reasonable accord with the approved community land use plan, also known as the "Master Plan," of the city;
(7) That public services, such as fire and police protection and utilities are, or will be, adequate to service the Downtown Development Authority District; and
(8) That such changes in zoning, streets, street levels intersections, and utilities as are contemplated by the Development Plan and Tax Increment Financing Plan are reasonably necessary for the Project.
(B) In accordance with the foregoing considerations, the Downtown Development Authority Development Plan and Tax Increment Financing Plan are hereby approved and adopted for all purposes of Act 197 consistent with the plan, with the following modification: Delete § 8.2(b) - Authority to levy two mills for operations.
(C) A copy of the Development Plan and Tax Increment Financing Plan, and all respective amendments thereto, shall be maintained on file in the City Clerk's office for public inspection, and shall be cross-indexed to this subchapter.
(Ord. 187, passed 5-4-92; Am. Ord. 309, passed 3-1-10)
Editor's note:
The Master Plan is available for public inspection at the office of the City Clerk.