(a) Review and determination of public purpose.
(1) Following a duly noticed public hearing on the amended downtown development and tax increment financing plans, which were recommended to the
by the Downtown Development
(“DDA”) on May 17, 2006, City Council reviewed said plans and found the plans to meet the following standards and criteria, as set forth in the Recodified Tax Increment Financing Act, Public
of 2018 (the “Act”), being M.C.L.A. §§ 125.4101 through 125.4915.
A. A Development Area Citizens Council is not required by the Act for the city’s DDA District.
B. The Downtown Development Plan meets the requirements set forth in M.C.L.A. § 125.4217 of the Act, and the Tax Increment Financing Plan meets the requirements set forth in M.C.L.A. § 125.4214 of the Act.
C. The proposed method of financing the development is feasible and the DDA has the ability to arrange financing.
D. The development is reasonable and necessary to carry out the purposes of the Act.
E. Any 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.
F. The downtown development plan is in reasonable accord with the master plan of the
.
G. Public services, such as fire and police protection and utilities, are or will be adequate to serve the project area.
H. Potential changes to zoning, streets, street levels, intersections and utilities are reasonably necessary for the project and for the
.
(2) In deliberations toward the adoption of this section, the
has determined that the adoption and implementation of amended downtown development and tax increment financing plans constitutes a public purpose.
(b) Approval of plan. Premised upon the determination made in division (a) above and upon further finding that the execution of the downtown development plan and the tax increment financing plan appear to be in the best interest of the , the amended plans are hereby approved and adopted by reference. No additional amendments to the plans shall be effective unless and until submitted to and approved by the in accordance with the procedures established by the Act.
(Ord. 1911-01, passed 12-11-2019)