1219.01 Findings.
1219.02 Public purpose.
1219.03 Best interest of the public.
1219.04 Approval and adoption of plan.
1219.05 Preparation of base year assessment roll.
1219.06 Preparation of annual tax increment assessment roll.
1219.07 Establishment of Project Fund; approval of depository.
1219.08 Payment of tax increments to authority.
1219.09 Use of moneys in the Project Fund.
1219.10 Annual report.
1219.11 Refund of surplus tax increments.
1219.12 Conflict and severability.
1219.13 Section headings.
1219.14 Publication and recordation.
1219.15 Effective date.
CROSS REFERENCES
Municipal bonds - see M.C.L.A. Secs. 117.4a, 117.4b, 117.4e, 117.4g, 117.5, 117.14a, 117.35a
Improvements in home rule cities - see M.C.L.A. Secs. 117.4d et seq.
Downtown Development Authority - see M.C.L.A. Secs. 125.1651 et seq.; ADM. Ch. 185
Planning Commission - see P. & Z. Ch. 1210
Commercial and industrial developments - see P. & Z. 1226.12
Tax Increment Finance Authority - see B.R. & T. Ch. 896
(a) The Development Area Citizens Council has reviewed the Development Plan and Tax Increment Financing Plan (hereinafter "the Plan") for the Development Area in the Downtown District in the City, and, after discussions with the Downtown Development Authority concerning its findings and recommendations, has approved the Plan.
(b) The Development Plan included in the Plan meets the requirements set forth in Section 17(2) of Act 197 of the Public Acts of Michigan, 1975, and the tax increment financing plan meets the requirements set forth in Section 14(2) of the Act.
(c) The proposed method of financing the development is feasible and the Authority has the ability to arrange the financing.
(d) The development is reasonable and necessary to carry out the purposes of the Act.
(e) The land included within the Development Area to be acquired is reasonably necessary to carry out the purposes of the Act.
(f) The Development Plan is in reasonable accord with the Master Plan of the City.
(g) Public services, such as fire and police protection and utilities, are or will be adequate to serve the Development Area.
(h) Changes in zoning, streets, street levels, intersections, and utilities, to the extent required by the Plan, are reasonably necessary for the project and for the City.
(Ord. 543. Passed 5-6-91.)
The City Council hereby determines that it is in the best interest of the public 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 to proceed with the Plan.
(Ord. 543. Passed 5-6-91.)
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