(A) The Kingsley Village Downtown Development and Tax Increment Financing Plan (herein referred to as the Plan) submitted by the Kingsley Village Downtown Development Authority (herein referred to as the DDA) pursuant to Public Act 197 of 1975, being M.C.L.A. §§ 125.1651 to 125.1680, as amended, (herein referred to as the DDA Act) is determined to constitute a public purpose and is hereby approved by the Kingsley Village Council.
(B) The Plan meets the requirements of the DDA Act.
(C) The proposed method of financing the development is feasible and the DDA has the ability to arrange the financing.
(D) The development planned is reasonable and necessary to carry out the purposes of the DDA Act.
(E) The land included within the development area to be acquired, if any, is reasonably necessary to carry out the purposes of the plan and of the DDA Act in an efficient and economically satisfactory manner.
(F) The Plan is in reasonable accord with the Village of Kingsley Master Plan.
(G) Public services are or will be adequate to service the project area.
(H) The changes in zoning, streets, street levels, intersections, and utilities, if any, are reasonably necessary for the projects and the village.
(I) The effective date of this section shall be the 12-15-2003.
(Ord. 04-03, passed 12-15-2003)