(A) The City Council hereby determines that the amended tax increment financing plan and development plan constitute a public purpose.
(B) The City Council hereby determines that it is in the best interests of the public to proceed with the amended tax increment financing plan and development plan and that the joint plan will halt property value deterioration, increase property tax valuation, eliminate the cause of property value deterioration and promote economic growth in the development area.
(Ord. 516, passed 12-13-2005; Am. Ord. 531, passed 5-22-2007)