When the Board decides to finance a project in the downtown district by the use of revenue bonds as authorized in Section 13 or tax increment financing as authorized in Sections 14 through 16 of Public Act 197 of 1975, as amended, being M.C.L.A. §§ 125.1664 through 125.1666, it shall prepare a development plan. The development plan shall contain:
(A) The designation of boundaries of the development area in relation to highways, streets, streams, or otherwise.
(B) The location and extent of existing streets and other public facilities within the development area and shall designate the location, character, and extent of the categories of public and private land uses then existing and proposed for the development area, including residential, recreational, commercial, industrial, educational, and other uses and shall include a legal description of the development area.
(C) A description of existing improvements in the development area to be demolished, repaired, or altered, a description of any repairs and alterations, and an estimate of the time required for completion.
(D) The location of existing improvements in the development area.
(E) A statement of the construction or stages of construction planned, and the estimated time of completion of each stage.
(F) Description of any parts of the development area to be left as open space and the use contemplated for the space.
(G) A description of any portions of the development area that the Authority desires to sell, donate, exchange, or lease to or from the municipality and the proposed terms.
(H) A description of any desired zoning changes and changes in streets, street levels, intersections, and utilities.
(I) An estimate of the cost of the development, a statement of the proposed method of financing the development and the ability of the Authority to arrange the financing.
(J) Designation of the person or persons, natural or corporate, to whom all or a portion of the development is to be leased, sold, or conveyed in any manner and for whose benefit the project is being undertaken if that information is available to the Authority.
(K) The procedures for bidding for the leasing, purchasing, or conveying in any manner of all or a portion of the development upon its completion, if there is no express or implied agreement between the Authority and persons, natural or corporate, that all or a portion of the development will be leased, sold or conveyed in any manner to those persons.
(L) A plan for compliance with Public Act 227 of 1972, being M.C.L.A. §§ 213.321 through 213.332.
(M) Other material that the Authority, local public agency, or governing body deems pertinent.
(Ord. 35.01, passed 8-12-85)