It is hereby determined to be necessary and in the best interests of the public to halt property value deterioration and increase property tax valuation where possible in the Business District of the City, to eliminate the causes of that deterioration and to promote economic growth, by establishing and providing for the operation of the City of Ionia Downtown Development Authority, pursuant to Act 197 of the Public Acts of 1975, as amended.
(Ord. 283. Passed 5-5-81.)